關於「該不該買房」的討論，從來沒有標準答案，也始終是個眾人熱議的話題。尤其當這個決策發生在海外，牽涉到身分、政策、匯率、未來規劃與職涯穩定性時，複雜程度更是上一層樓。
接續之前的文章，這篇想談談：我為什麼最終決定在新加坡買房。
不是回到熟悉的台灣置產，也不是追逐其他熱門海外市場，而是選擇在這個我工作與生活近四年的城市，買下人生中的第一間海外房產。
Table of contents
- 買房 v.s. 不買房，你是哪一派？
- 為什麼我選擇在新加坡買房？
- 比「房價會不會漲」更重要的 核心問題
- 買或不買，其實 是選擇想過的人生
- 沒買房 v.s. 繳納房貸的壓力，哪個比較大？
- Buying vs Renting: Which Side Are You On?
- Why I Chose to Buy a Home in Singapore
- A More Important Question Than “Will Property Prices Rise?”
- Buying or Not Buying Is Really About Choosing the Life You Want
- Which Is Harder: Not Owning a Home, or Paying a Mortgage?
買房 v.s. 不買房，你是哪一派？
在進入個人理由前，我先整理出常見的正反論點。因為買房這件事，從來不是單純的「有錢就買」或「租房比較聰明」這麼簡單，而是每個人依照自己的人生階段、財務狀況與風險承受能力，所做出的選擇。
【買房派主要論點】
- 資產累積與equity概念：與單純負擔租金不同，買房支付出去的錢，部分會轉化為房屋的equity，最終獲得房屋的所有權，某種程度上等於一種「被動儲蓄機制」。
如同「富爸爸窮爸爸」一書中提到的「資產是能把錢放進你口袋裡的東西；而負債是把錢從你口袋裡取走的東西」。如果物件選擇得當，未來可以出租、出售，甚至抵押資產做資金的再配置，房子對我來說就不只是負債，而次具有資產屬性的資產配置。
- 長期增值潛力：購買房子後，有機會享受未來的資本增值，這應該也是大多數買房派最期待看到的部分。
- 抗通膨特性：不動產往往與通膨高度連動，因為租金通常也會隨著通貨膨脹調漲。過去在私募基金工作時，我們也常對投資人強調房地產的抗通膨特性。某種程度上，我不想永遠站在支付租金的那一方，成為房東抗通膨的工具，這也成為我加速購置房地產的動力。
- 合理合法的槓桿：在新加坡，購屋通常最高可貸款至房價的75%。從投資角度來看，等於用銀行資金共同參與資產配置，當大資金使用效率，這也是房地產這項資產類別的特殊之處。當然槓桿是雙面刃，需要謹慎使用及評估，但它確實是其他資產類別較難取得的一種結構性優勢。
- 買房等於強迫儲蓄：反對買房派常主張資金的靈活性，認為買房頭期款是一筆很大的機會成本，應該把這筆錢拿去做其他投資，賺取更高的投資報酬率。但前提是：你必須非常有紀律，確實把資金存下來，並持續投入投資市場。
【反對買房派主要論點】
- 資金彈性與機會成本：不買房，資金能夠更靈活運用，投資在收益率更高的產品上，獲得更佳的投資報酬率。相較之下，房地產變現時間長、交易成本高，需要資金時，流動性通常不如股票或基金。
- 現金流自由度：房貸可能讓生活被「鎖住」，降低工作與人生彈性，不但無法自由搬家，甚至在想轉換工作、創業或休息一段時間時，也會因為每月固定還款壓力而受到限制。
- 維持及交易成本高昂：租屋可免除房屋稅、地價稅、管理費、修繕費，傢俱添購費用，以及交易時可能產生的仲介、律師、代書的成本，無形中節省不少隱形支出。
- 免除裝修及修繕困擾：房子重要的裝修、維修保養通常是房東的責任。對租客而言，可以省去不少修繕的麻煩和費用。
- 市場風險與 lease decay（新加坡特殊情況）：這點主要針對新加坡，或其他有leasehold制度的國家。當房屋年齡來到30至40年的轉折點，房屋價值可能開始受到lease decay影響，也會影響脫手的難易度。除此之外，任何市場都可能存在房價泡沫或景氣循環風險。若買在高點，不但可能賠上多年積蓄，即使房屋折價，仍需繼續繳納房貸。
綜上所示，正反方論述都有其合理性，真正的關鍵其實不在於對與錯，而是取決於每個人當下的財務狀況，和對未來的人生規劃，以及對未來生活的期待。房子究竟是資產還是負債，是否具備增值空間，流動性好不好，也大大取決於購置的房產項目，以及購屋前是否做足功課。
「機會成本」及「資金靈活性」，應該是許多反對買房派最主要的concern。老實說，在購屋之前，我也很擔心資金會被綁住，或因此錯失讓資產更好增長的機會。但在新加坡這樣一個相對穩定的經濟環境下，考量貨幣穩定性、基礎建設、政策可預期性與長期居住需求後，我仍然認同擁有房地產所帶來的結構性優勢。
為什麼我選擇在新加坡買房？
而我自己為什麼會選擇在新加坡購屋？有個很大的原因是——新加坡房租真的太貴，而我不想成為房東對抗通膨的工具。在有自住需求的情況下，加上下述幾個原因，讓我下定決心：一定要在新加坡擁有一個真正屬於自己的地方。
- 租金飆升帶來的焦慮：當我2022年來到新加坡的時候，正值後疫情、人才大量回流新加坡的時代。當年租屋市場供不應求，一屋難求，就連租屋都要比誰動作快、出價高，才能成功簽下租約。
那段期間，屢屢聽到房東調漲房租，從20、30%，甚至翻倍的都有，因為沒有房東願意聽到自己的租金比別人便宜。身為外國人，那種「被市場推著走」的無力感非常真實。 下圖可以見到新加坡Urban Redevelopment Authority的私人住宅租金指數歷史走勢。在疫情之後租金上漲了約45%，後來雖有小幅回檔，但再也無法回到過去的水平。
而新加坡的租金究竟有多貴呢？以目前市中心condo租金的數據來看，一間約6坪大小的Studio，租金要3,300新幣一個月，約等於台幣8.3萬；而17坪左右的一房，租金要新幣4,000元，約等於台幣10萬。
- 用現在的價格，鎖住未來的不確定性：新加坡土地供給由政府定期標售，土地價格本會受到通膨、建築成本、人工成本與材料價格影響。當土地成本、建築成本與融資成本逐年上升，最終傳導到消費者身上時，房價漲幅可能不只是單純的2%至3%。提早進場，某種程度是「以現在的價格鎖定未來增長」。
- 收入與房價增長的不對等：舉例來說，假如年薪為100萬台幣，每年調漲5%，等於每年加薪5萬元。但同樣狀況之下，若房價每年增長2%，以一間1,000萬的房子來看，2%就是20萬。由於房價基數遠大於薪資基數，因此很容易產生「收入追不上房價」的感受。這也是我認為，若已經具備穩定收入與足夠頭期款，且找到適合物件，就不一定需要無限期等待的原因。
- 市場利率相對友善：新加坡房貸利率相較前幾年的高點，已回到較為友善的位置。以我當時鎖定的貸款利率來看，約為1.48%左右，這也是我認為當時購屋時機相對具吸引力的原因之一，也可以說明為什麼新加坡現在的房地產市場會如此火熱。
下圖為新加坡的基本利率Coumpound SORA 3- month，可以看到除了COVID-19的歷史低點外，目前利率仍處在偏低的位置。雖然無法保證未來走勢，但對購屋者而言，融資成本已較前幾年友善許多。
- 年齡與貸款結構：前文有提到，新加坡貸款年限受到年齡限制影響，通常以65歲作為重要上限。35歲以前購屋，較有機會貸滿30年；隨著年齡增長，貸款年限也會逐年下降，若越晚購屋，等於每月房貸負擔越重。
- CPF制度的設計：成為 PR 後，每月薪資的 20% 會強制存入自己的 CPF，公司也會另行提撥17%。這筆資金在退休前無法自由動用，因此對我而言，若能用來支付房屋頭期款與房貸，也是一種更有效率的資金配置方式。
- 宏觀經濟的穩定性及人口紅利：新加坡政經發展相對穩定，政策可預期性高，且長期對外資與人才保持開放。根據新加坡政府過去公布的人口政策方向，官方希望在 2030 年前將總人口維持在 650 萬至 690 萬之間，在出生率持續偏低的情況下，政府勢必需要持續吸引外國人才，以維持國家整體增長。
也因此，新加坡人口組成中，每10人約有3人是外籍人士，且每年約有3.3萬人取得PR的資格。這些人口流入，無論是租屋或購屋，都會持續支撐住宅市場的居住需求，進而維持住宅市場的基本面。
- 較佳的建築品質與完善的制度保障：相較於台灣，新加坡的開發商普遍具備一定規模，且受到政府較嚴格的監管。無論是在規劃設計、施工品質，或是完工後的社區管理與維護水準，新加坡整體住宅市場都給我相當成熟且有制度的感覺。
我曾經問過一位新加坡朋友，她在看過唯一一個建案後，就決定直接出手購買。當時我很驚訝地問她：「妳只看一個案子就買，不擔心遇到無良建商跑路嗎？」她回答我：「新加坡的不太可能發生這樣的事。」雖然這句話聽起來有些誇張，但也反映出許多本地人對市場制度與開發商體系的信任。
後來我實際參觀過她所購買的社區，無論是公設維護、景觀規劃、社區管理或居住品質，都讓我留下深刻印象。而那個社區後來甚至名列新加坡年度最賺錢住宅社區之一。
當然，任何市場都沒有百分之百完美的制度，也不是所有建案都值得購買。但相較於許多國家，新加坡在法規監管、建築品質與消費者保障方面，確實建立了相當高的信任度。對海外買家而言，這種制度上的安全感，其實也是我願意把大筆資金投入新加坡房地產的重要原因之一。
- 稅制優勢：新加坡雖然在購屋時有印花稅（Stamp Duty），以及額外買方印花稅（Additional Buyer’s Stamp Duty），但在房屋出售時，卻沒有課徵資本利得稅（Capital Gains Tax），這在資產規劃上相對友善。
- 實坪制計價：新加坡買房為實坪制，不需要像台灣一樣負擔高比例公設。台灣許多住宅有30%至35%的購屋總價，實際上是用來支付公設。這點也讓我更傾向在新加坡置產，因為我更能清楚知道自己實際購買的是什麼樣的使用空間。
結合以上所有原因，且以PR的角度而言（ABSD是5%左右而非60％的狀況下），我認為只要頭期款足夠，工作相對穩定，風險管理做好，對我來說，沒有太多理由不在新加坡買房。不得不說，新加坡政府的制度設計相當完整。從CPF、房貸年限、印花稅到居住政策，都在某種程度上促使人在這裡工作、生活，並逐步安定下來。
比「房價會不會漲」更重要的核心問題
身為不動產投資買方，我在做決策時，當然會看市場、利率、供需、租金、估價，也會問自己：「這個房子未來有沒有增值空間？」。但更重要的是，我不只問自己房價會不會漲，也問了自己以下問題：
- 最壞情況下，我撐得住嗎？
- 要是工作突然沒了，我能支撐多久？
- 如果房價下跌10%，我該怎麼辦？
- 如果未來需要出租，租金是否能覆蓋相當比例的持有成本？
- 如果有一天想離開新加坡，我是否有合理的退場方案？
- 這個決定會不會壓縮我未來轉職、學習或人生選擇的空間？
在評估過程中，我也確實替自己建立了財務模型，反覆確認財務狀況、現金流與壓力測試。當上述問題的答案都落在可承受範圍內時，我才最終做下這個海外置產的重大決定。
買或不買，其實是選擇想過的人生
關於買房與否，始終是個爭論不休的議題。無論站在正方或反方，都沒有絕對的對與錯。真正重要的是：你的年齡、人生階段、財務狀況、現金流承受能力，以及是否真的有合適的物件出現，這些條件都需要被全盤納入考量。
如果太年輕就決定購屋，且買房會吃掉所有的現金流，壓縮學習與未來發展空間，那也許暫緩會是更好的選擇。因為投資自己，增強專業能力、擴大收入的可能性，才是真正能增加人生未來選擇權的關鍵因素。
關於購屋與否，就像我在買方工作時所受到的訓練：每當評估一個案件，投資長總是會問我：「妳的建議是買，還是不買？原因是什麼，為什麼是這個價格？」。買或不買，都可以找到千百個理由，真正重要的是，你自己的看法是什麼？你是否做足了分析？是否評估過自己的現金流與風險？是否能為自己的投資選擇負起責任？
不要輕易聽信市場謠言或買賣話術，也不要因為別人買了就跟著買。每一個重大財務決策，最終都應該回到自己身上，因為只有你需要承擔後過，也只有你知道這個選擇是否符合自己想要的人生。對自己的投資選擇負起責任，才不會對不起自己所賺的每一塊錢。
沒買房 v.s. 繳納房貸的壓力，哪個比較大？
除了上述理性的評估分析，還有一個促使我買房的重要理由：人在異鄉，有一個真正屬於的小空間，這種踏實感，是很難被取代的。在新加坡的前幾年，我幾乎每年都要搬一次家，生活總是無法真正安定下來。每次搬家，都要花幾個月重新找房、看房、談租約、打包、搬家，反覆循環，那種勞心費力又吃力不討好的過程，讓我常常覺得自己像風中飄浮的落葉，沒有自己的根。
時常看到有人討論「沒買房的焦慮，和繳納房貸的壓力，哪個比較大？」
對我來說，是前者。 買房之後，當然會開始面對房貸壓力。但對我而言，房貸也讓生活目標變得清晰——至少我知道，自己在為什麼努力著。
對我而言，買房不代表人生從此安穩無憂，也不保證未來一定會成功。
它只是代表，在經過反覆思考與評估後，我決定把自己未來的一部分，留在這座城市。
而這個決定，我願意為它負責。
你呢？你是傾向買房派，還是不買房派？
歡迎留言和我分享你的觀察、想法，或你曾經面臨過的掙扎與考量。
➤ 關聯閱讀
The question of whether one should buy a home has never had a standard answer. It has always been a widely debated topic. This decision becomes even more complex when it takes place overseas, involving residency status, government policies, exchange rates, future plans and career stability.
Following on from my previous articles, this piece explores why I eventually decided to buy a home in Singapore.
Instead of purchasing a property back in familiar Taiwan, or chasing other popular overseas markets, I chose to buy my first overseas property in the city where I have worked and lived for nearly four years.
Buying vs Renting: Which Side Are You On?
Before sharing my personal reasons, I wanted to first lay out the common arguments on both sides. Buying a home is never simply a matter of “buy if you can afford it” or “renting is smarter”. It is a decision shaped by one’s stage of life, financial position and risk tolerance.
【The Case for Buying】
- Building equity: Unlike rent, which is paid out without ownership in return, part of each mortgage payment goes towards building equity in the property. Over time, this leads to ownership. In a sense, buying a home can act as a form of forced savings.
As Rich Dad Poor Dad puts it, an asset is something that puts money into your pocket, while a liability takes money out of it. If chosen carefully, a property can be rented out, sold, or even used as collateral for future capital allocation. To me, a home is therefore not merely a liability, but an asset-backed part of one’s broader financial portfolio.
- Long-term capital appreciation: Owning a property gives you the potential to benefit from long-term capital appreciation. This is probably one of the main reasons many people choose to buy.
- Inflation hedge: Real estate is often closely linked to inflation, as rents tend to rise alongside the cost of living. When I worked in private equity, we often highlighted real estate’s inflation-hedging characteristics to investors. In some ways, I did not want to remain forever on the rent-paying side of the equation, becoming part of someone else’s inflation hedge. This was one of the factors that pushed me to buy sooner.
- Responsible use of leverage: In Singapore, home buyers can typically borrow up to 75% of the property price. From an investment perspective, this means using bank financing to participate in a larger asset allocation. This is one of the distinctive features of real estate as an asset class. Of course, leverage is a double-edged sword and must be used with caution, but it remains a structural advantage that is harder to access in many other asset classes.
- Forced savings: Those against buying often argue that the down payment represents a significant opportunity cost, and that the money could be better invested elsewhere for higher returns. That may well be true — but only if you have the discipline to consistently save and invest that capital over time.
【The Case Against Buying】
- Flexibility and opportunity cost: By not buying, your capital remains more flexible and can be invested in products with potentially higher yields. By contrast, property is illiquid, takes time to sell and involves high transaction costs. When you need cash, it is usually far less liquid than stocks or funds.
- Cash flow flexibility: A mortgage can make life feel “locked in”. It may reduce your flexibility to move home, change jobs, start a business or take a career break, simply because you have a fixed monthly repayment to meet.
- High holding and transaction costs: Renting allows you to avoid property taxes, maintenance fees, repair costs, furniture expenses, and the transaction costs that may arise from agents, lawyers or conveyancing. These hidden costs can add up.
- Avoiding renovation and repair headaches: Major repairs, maintenance and renovations are usually the landlord’s responsibility. For tenants, this removes a great deal of inconvenience and expense.
- Market risk and lease decay: This is especially relevant in Singapore and other markets with leasehold property systems. Once a property reaches the 30- to 40-year mark, its value may begin to be affected by lease decay, which can also make resale more challenging. Beyond that, every market carries the risk of property cycles or bubbles. If one buys at the peak, years of savings may be at risk, and even if the property value falls, the mortgage still has to be paid.
In short, both sides have valid arguments. The real question is not who is right or wrong, but what fits your current financial situation, future plans and desired way of life. Whether a property is an asset or a liability, whether it has appreciation potential, and whether it is sufficiently liquid all depend heavily on the specific property and the amount of homework done before purchase.
“Opportunity cost” and “capital flexibility” are probably the biggest concerns for those who choose not to buy. To be honest, before purchasing my home, I was also worried about tying up too much capital or missing out on better opportunities for asset growth.
However, in a relatively stable economy such as Singapore, taking into account currency stability, infrastructure, policy predictability and long-term housing demand, I still believe that owning real estate offers certain structural advantages.
Why I Chose to Buy a Home in Singapore
So why did I choose to buy a home in Singapore? One major reason is simple: rents in Singapore are extremely expensive, and I did not want to spend the rest of my life helping landlords hedge against inflation. Given my intention to live here long term, together with the factors below, I ultimately decided that I wanted a place of my own in Singapore.
- The Anxiety of Soaring Rents: When I arrived in Singapore in 2022, the country was emerging from the pandemic and experiencing a strong influx of returning talent and foreign professionals. The rental market was exceptionally tight. Demand far exceeded supply, and securing a flat often came down to who could move fastest or offer the highest rent.
During that period, stories of landlords increasing rents by 20%, 30%, or even doubling them became increasingly common. After all, few landlords wanted to discover that their property was being rented below market rates. As a foreigner, the feeling of being swept along by forces beyond your control was very real.
The chart below shows the historical private residential rental index published by Singapore’s Urban Redevelopment Authority (URA). Rents rose by approximately 45% following the pandemic. Although there has since been a modest correction, rental levels have never truly returned to their previous norms.
Just how expensive are rents in Singapore today?
Based on current rental listings in central locations, a studio apartment of around 20 sqm can easily command around S$3,300 per month. A one-bedroom condominium of approximately 55 sqm may cost around S$4,000 per month.
- Locking in Tomorrow’s Prices Today: Land supply in Singapore is primarily released through government land sales. Land values are influenced by inflation, construction costs, labour expenses and financing costs. As these costs continue to rise over time, the impact is eventually passed on to buyers. In that context, future property price growth may be driven by more than just the typical 2–3% annual appreciation often assumed. Buying earlier, in some ways, is about locking in future uncertainty at today’s prices.
- Income Growth vs Property Price Growth: Consider a simple example. If someone earns SGD 80K annually and receives a 5% pay rise, their income increases by SGD 4,000 per year. By comparison, if a SGD 1 million property appreciates by just 2%, its value rises by SGD 20,000. Because property values typically start from a much larger base than salaries, many people feel as though their income struggles to keep pace with housing prices. This is one reason why I believe that if you already have stable income, sufficient savings for a deposit, and have found a suitable property, waiting indefinitely may not necessarily be the best strategy.
- More Favourable Interest Rates: Compared with the peaks seen in recent years, mortgage rates in Singapore have become considerably more attractive. At the time I purchased my property, the mortgage rate I secured was approximately 1.48%, which I considered relatively compelling. It also helps explain why Singapore’s residential market has remained so active.
The chart below shows Singapore’s 3-Month Compounded SORA. Aside from the exceptionally low rates seen during COVID-19, current borrowing costs remain relatively moderate by historical standards. While no one can predict future interest-rate movements with certainty, financing conditions today are noticeably more favourable than they were only a few years ago.
- Age and Mortgage Structure: As mentioned earlier, mortgage tenure in Singapore is influenced by age, with 65 often serving as an important threshold. Those who purchase property before their mid-thirties are more likely to secure a full 30-year mortgage term. As one gets older, the maximum loan tenure gradually shortens, resulting in higher monthly repayments. In other words, delaying a purchase can make home ownership more expensive from a cash-flow perspective.
- The CPF System: Once you become a Singapore Permanent Resident (PR), 20% of your salary is contributed to your CPF account, while your employer contributes an additional 17%. As these funds cannot be freely accessed before retirement, I view using CPF savings for a property deposit and mortgage payments as a more efficient form of capital allocation.
- Economic Stability and Population Growth: Singapore enjoys a relatively stable political and economic environment, with highly predictable policies and a long-standing openness to global talent and foreign investment. According to Singapore’s population planning objectives, the government aims to maintain a total population of between 6.5 and 6.9 million by 2030. Given the country’s persistently low birth rate, attracting foreign talent will remain essential to supporting future economic growth.
Today, roughly three out of every ten people in Singapore are foreigners, while approximately 33,000 individuals obtain Permanent Residency each year. Whether these newcomers choose to rent or buy, population growth continues to provide underlying support for housing demand and residential property fundamentals.
- Stronger Building Standards and Institutional Trust: Compared with Taiwan, Singapore’s property developers are generally larger, more established organisations operating within a highly regulated framework. Whether in planning, construction quality, property management or long-term maintenance, Singapore’s residential market has always felt mature and well-structured to me.
I once asked a Singaporean friend about her home purchase. She told me she bought her property after viewing just a single development. I remember being surprised and asking: “You only looked at one project? Weren’t you worried about the developer cutting corners or disappearing halfway through?” Her response was simple: “That doesn’t really happen in Singapore.”
While perhaps a slight exaggeration, her answer reflects the level of trust many locals place in Singapore’s institutions and development industry.
Later, I visited her condominium and was genuinely impressed by the quality of the landscaping, facilities, maintenance and overall living environment. The development eventually became one of Singapore’s most profitable residential projects for homeowners.
Of course, no market is perfect, and not every property deserves to be bought. However, compared with many countries, Singapore has built a remarkably high degree of trust through regulation, construction standards and consumer protection. For overseas buyers, that sense of institutional security is itself a valuable asset—and one of the key reasons I felt comfortable committing a significant portion of my capital to Singapore real estate.
- Tax Advantages: Although Singapore imposes Stamp Duty and Additional Buyer’s Stamp Duty (ABSD) on property purchases, there is generally no Capital Gains Tax on residential property sales. From a wealth-planning perspective, this makes the tax framework relatively attractive.
- Strata Area Transparency: Properties in Singapore are sold based on strata area, allowing buyers to have a clearer understanding of the space they are actually purchasing. In Taiwan, it is common for 30–35% of a property’s total purchase price to be allocated to common areas. Personally, I prefer Singapore’s approach because it provides greater transparency regarding the space I am paying for.
Taking all of these factors into account—and from the perspective of a PR paying approximately 5% ABSD rather than the 60% imposed on foreign buyers—I felt there were few reasons not to buy, provided I had sufficient savings, stable employment and a sensible risk-management framework in place. I have to admit that Singapore’s housing policies are thoughtfully designed. From CPF contributions and mortgage structures to stamp duties and housing policies, the system creates a strong incentive for people to work, live and gradually put down roots here.
A More Important Question Than “Will Property Prices Rise?”
Having worked on the buy-side of real estate investing, I naturally look at the market, interest rates, supply and demand dynamics, rental trends and valuations when making decisions. Of course, I asked myself: “Does this property have the potential to appreciate in value?”
But more importantly, I asked myself a different set of questions:
- Can I withstand the worst-case scenario?
- If I suddenly lost my job, how long could I support myself?
- What would happen if property prices fell by 10%?
- If I needed to rent the property out in the future, would the rental income cover a meaningful portion of the holding costs?
- If I eventually decided to leave Singapore, would I have a reasonable exit strategy?
- Would this decision limit my future career choices, learning opportunities or personal freedom?
Throughout the process, I built detailed financial models, stress-tested different scenarios, and repeatedly reviewed my cash flow and financial position. Only when the answers to these questions fell within a range I was comfortable with did I finally decide to proceed with this overseas property purchase.
Buying or Not Buying Is Really About Choosing the Life You Want
The debate around home ownership is unlikely to end anytime soon. Whether you stand on the side of buying or renting, there is no absolute right or wrong answer. What truly matters are your age, stage of life, financial position, cash-flow resilience, and whether the right property has genuinely presented itself. All of these factors deserve careful consideration.
If you are still very young, and buying a home would consume most of your cash flow while limiting your ability to invest in yourself, develop new skills or pursue future opportunities, then waiting may well be the wiser choice. After all, investing in yourself—expanding your capabilities, increasing your earning potential and creating more options for the future—is often the most valuable investment of all.
This way of thinking reminds me of the training I received on the investment side of the industry. Whenever we evaluated a deal, the Chief Investment Officer would inevitably ask:
“So what’s your recommendation? Buy or don’t buy? Why? And why at this price?”
The reality is that there are countless reasons both to buy and not to buy. The more important question is:
What do you think? Have you done your analysis? Have you assessed your risks and cash flow? Can you take responsibility for the decision you make?
Don’t buy simply because everyone else is buying. Don’t let market noise or sales pitches make the decision for you. Every major financial decision ultimately comes back to one person: yourself. You are the one who will live with the consequences, and only you know whether a particular choice aligns with the life you truly want. Taking responsibility for your investment decisions is, in my view, one of the best ways to honour the money you have worked so hard to earn.
Which Is Harder: Not Owning a Home, or Paying a Mortgage?
Beyond all the rational analysis and financial modelling, there was one more reason that pushed me towards buying. When you are living abroad, having a small place that truly belongs to you brings a sense of stability that is difficult to replace. During my first few years in Singapore, I moved almost every year. Life never quite felt settled. Each move meant months of searching for properties, attending viewings, negotiating leases, packing boxes and starting over again. The cycle repeated itself time and time again. Eventually, I began to feel like a leaf drifting in the wind—always moving, never quite putting down roots.
I often see people debating:
“Which is worse: the anxiety of not owning a home, or the pressure of paying a mortgage?”
For me, the answer is the former. Of course, buying a home comes with financial obligations. The mortgage is real, and so is the responsibility. But oddly enough, it has also given me a greater sense of clarity. At least now, I know what I am working towards.
To me, buying a home does not guarantee a successful future, nor does it mean life suddenly becomes secure and worry-free. It simply means that, after careful thought and thorough analysis, I decided to leave a small part of my future in this city. And it is a decision I am willing to take responsibility for.
What about you? Are you on the side of buying, or renting?
I’d love to hear your thoughts, experiences and reflections. Feel free to leave a comment and share the considerations, dilemmas or lessons that have shaped your own perspective.
➤ Related Reads
- A SPR’s Property Journal — Ch. 1: Why Buy?
- A SPR’s Property Journal — Ch. 3: How the Right Agent Helped Me Save US$240K+ on My SG Home Purchase
- A SPR’s Property Journal — Ch. 3: How I Managed to Buy a Home in Singapore for S$30K+ Less Than My Original Plan