Source : Straits Times – 19 Sep 2009
KUDOS to the Government for its success in encouraging home ownership.
However, like the ‘Stop at Two’ campaign to control population growth, its success in housing Singaporeans has raised fresh problems.
Many home buyers today are unrealistic in their expectations. If they insist on on a new flat, they must be prepared to wait and should not be disappointed when not given the choicest pick or worse, not selected.
With resale flats, which are a good alternative, be prepared to consider a unit that is smaller or farther from the town centre (where all amenities are) or at a lower level or less well renovated.
With flats that are generally cheaper as they are ‘not so good’, issues of excessively high valuation and cash over valuation can be drastically reduced. Like it or not, though not perfect, it is this ‘let the market decide’ process that allows many to upgrade to private housing after a few years.
Is there really a shortage of basic housing or are the expectations of many buyers unrealistically high?
Buy what you can afford. There is an old saying: Do not wear a hat that is too big for your head or you may trip and fall.
Charles Cheng
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