Quote:
Originally Posted by Unregistered
Only the TOP 15% of Singapore residents live in condo.
Staying in a condo is definitely a highly desirable thing. For young couples and FTs who cannot afford a condo yet, they can start by renting a one bedroom condo. They can then save up until they can afford one. Renting a condo is affordable, you can rent a one bedroom condo for only $3500 in the West. If a couple earns $6000 each per month, their household income is $12,000 per month. Their rent is only about 30% of household income. They can then save 30% of their income over 5 years to pay for the downpayment of their condo.
Living in a condo unit is very prestigious, only those who have studied very hard in school and then have good jobs can afford a condo. Hence, if you live in a condo (whether you own or rent it), it shows you are the hardworking and successful ones.
A condo also has many nice facilities such as the gymnasium, swimming pool, Jacuzzi, tennis courts, the clubhouse and luxurious landscaping. Steeping into a condo gives you a sense of tranquillity, peace and well-being. A condo is also safer.
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Living in a condo is no different from
HDB except that you have amenities at your doorstep, and that security is better. Plus you won't feel that cluttered as the condo is sort of like a tiny village within a village (neighbourhood).
Having said that, it also depends on what kind of condo are you referring to. Nowadays, condo units are smaller and location not that ideal. Some condo may not have the full amenities as well.
I think living within one's means is better - no point trying very hard to "upgrade" from a
HDB to a condo if you need to compromise on other areas. Plus property prices are extraordinary high nowadays, better to save up the money and attempt to upgrade when you see a good opportunity.