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21-05-2017, 01:37 PM
Renting a home can be a savvy decision
You can't call a home you live in an asset, and that down payment could be put to better use
by Lee Xin En
Published May 21, 2017
After two years living abroad - the last six months in a beautiful but mouse-infested house in hipster East London - I was over the moon to be back in Singapore.
I relished my parents' clean flat, the gym downstairs and my mother's delicious home-cooked meals.
Still, after a month or two, I was keen to move out as my place in the suburbs is over an hour's commute to the office. I had also enjoyed living downtown abroad, which I feel is the best way to fully appreciate a cosmopolitan and vibrant city.
However, family, friends and acquaintances were downright hostile to the idea of renting a place.
"You're throwing money down the drain," was a common refrain, while many emphasised that I should consider home ownership as I would "at least own something" at the end of 20 or 30 years.
I am intrigued by the deeply entrenched idea that renting a home is a poor financial decision akin to "throwing away money".
More details in http://www.straitstimes.com/business/pro...y-decision
You can't call a home you live in an asset, and that down payment could be put to better use
by Lee Xin En
Published May 21, 2017
After two years living abroad - the last six months in a beautiful but mouse-infested house in hipster East London - I was over the moon to be back in Singapore.
I relished my parents' clean flat, the gym downstairs and my mother's delicious home-cooked meals.
Still, after a month or two, I was keen to move out as my place in the suburbs is over an hour's commute to the office. I had also enjoyed living downtown abroad, which I feel is the best way to fully appreciate a cosmopolitan and vibrant city.
However, family, friends and acquaintances were downright hostile to the idea of renting a place.
"You're throwing money down the drain," was a common refrain, while many emphasised that I should consider home ownership as I would "at least own something" at the end of 20 or 30 years.
I am intrigued by the deeply entrenched idea that renting a home is a poor financial decision akin to "throwing away money".
More details in http://www.straitstimes.com/business/pro...y-decision
Specuvestor: Asset - Business - Structure.