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Seedly Below 35 Single Desperate To Move Out

Below 35, Single, Desperate, And Looking To Move Out. How Ah?

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During a major online sales event like Singles Day, people always like to talk about their latest loot from online shopping.

Well, you know what?

Shoes and bags and clothes are great, but really, can they compare to the feeling of owning your own home?

Compared to the independence from overbearing landlords and nitpicking parents?

I doubt it. I seriously doubt it.

Here’re four options for you to pursue if you’re under 35 and desperately need to move out.

Buy A Condo

Source: giphy

Financial Difficulty for a single person: Hard. Like, really hard. You need lots of money.

Being private property, condos are far less regulated than HDBs when it comes to purchasing rules.

The big one being it is perfectly legal for people below 35 to own one.

This sounds awesome and all, but the thing is, you’ll need to be earning at least $5,052 to even attempt buying the most affordable resale condo (let’s not even start with new launches).

That puts even an entry-level, non-central condo out of the reach of the median Singaporean who earns approximately $4,400. (He/she will need a spouse to share the cost and double their capital)

Oh, did we mention the downpayment?

The amount for that same entry-level, non-central resale condo is at least $225,000.  That means you’ll probably need to save really, really intensely if you can’t borrow money from your parents.

PS: This list of condos people can buy on a 6k income might help.

Market SegmentMedian PriceLoan Amount (75%)DownpaymentEst. Monthly RepaymentMin. Monthly Gross Income Needed To Satisfy 60% TDSR Requirement
CCR$2.06 mil$1.54 mil$514,337$6,915$11,525
RCR$1.37 mil$1.03 mil$342,000$4,625$7,709
OCR$1.10 mil$824,250$274,750$3,701$6,169

What you need to have when you want to buy a brand new condo. It’s probably out of reach for many Singaporeans.

Market SegmentMedian PriceLoan Amount (75%)DownpaymentEst. Monthly RepaymentMin. Monthly Gross Income Needed To Satisfy 60% TDSR Requirement
CCR$1.52 mil$1.14 mil$380,000$5,119$8,532
RCR$1.18 mil$885,000$295,000$3,974$6,623
OCR$900,000$675,000$225,000$3,031$5,052
Prices for resale condos are somewhat cheaper, but still pricey compared to the humble HDB.

Renting A Place/Whole Room 

Source: giphy

Financial difficulty for a single person: Mid-difficulty

We don’t hear of Singaporeans moving out to rent a place often, but yes, it is a viable alternative to buying a condo. (Renting is not just for foreigners, mind you).

A lot of people think that renting a place means they are immediately throwing money away because they’re not building equity, and well, this is true for the most part in the long term.

That said, renting a place is far, far, far, better than buying the wrong property.

So if you can’t make up your mind on the right property, keep calm and just rent first.

If you search the 99.co portal, you’ll find that rentals in Singapore can start anywhere from $500 for a common bedroom, or up to $8000 for a studio.

In my personal opinion, spending anything more than $2,000 on a place that houses one person seems like a luxury.

That said, I am pretty conservative when it comes to rental budget and have extremely limited knowledge when it comes to pampering myself.

If you can afford something nicer and pricier, why not?

Read this article to figure out how much you should spend on rent, and how to potentially get that amount slashed.

Renting A Place In JB

Source: Shutterstock

Financial difficulty for a single person: Low, but physical and mental difficulty high.

For the brave and the bold, Johor Bahru is always there with its more affordable standard of living.

Sure, moving to good ol’ JB requires plenty of sacrifices.

The queues at customs can be long and painful unless you wake up at ungodly hours, and the thugs there put those in Yishun to absolute shame.

Oh yeah, and you MIGHT need to get a car just to get around JB.

That said, there are very valid reasons to live in JB.

Food is affordable.

Rent is affordable.

Everything is affordable.

Decent studios can be had for as low as S$300 to S$500.

(I’d link them here but hey we’re a Singapore portal.)

Live With Your Parents, Tolerate Them Till 35 Then Buy A Resale Flat

Source: giphy

Financial difficulty for a single person: Low to mid.

Yeah, yeah, yeah. We get it. Living with your parents has never been glamorous.

But if you’re cash strapped and living on a diet of instant noodles, being patient and putting up with your parent’s whole ‘my house my rules‘ system could work.

For one, you’d save money you would have spent on rental.

Assuming you’re 10 years away from 35, and hypothetically spent $1,000 on rent each month that would mean $120,000 in the long run.

Trust me, that’s MORE than enough for the initial downpayment for your flat – you might even have enough left for a sick reno job.

Moral Of The Story

If you haven’t figured it out already, the price of independence in Singapore isn’t cheap.

In fact, it’s really expensive.

If you’re reading this after spending your entire paycheck on the 11.11 sale… Congrats, you’ve set your independence day back by a couple of months.

Hot tip: Start saving your money so you can start spending on property.


This article first appeared on 99.co and is part of a content syndication agreement between 99.co and Seedly.

For our Property Talks, the Seedly team worked closely with 99.co, who is an expert in the field, to curate unbiased, non-sponsored content to add value back to our readers.

99.co is a Singapore-based property portal that aims to take away the tedious bits of property hunting.

If you have any questions regarding property feel free to discuss them with the friendly Seedly Community!

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