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Monday, 4 August 2008
Frustrated About Housing Problems After Marriage
"Irene and I will stay with my parents for 5 years. And we will get our own flat after paying off the HDB loan for my parents' flat in 5 years."
This is my reply to friends who had asked us our housing plan after our wedding, and it's going to be the same reply for those who are going to ask me.
This is the most difficult question... and it doesn't help me by proposing alternatives to our housing issue. I already felt bad that I cannot afford my own flat with Irene. Who doesn't want to have his own haven with his love one after wedding. I do, and I look forward to start a family with Irene raise our kids without our parents' intervention in our very own house we call home.
If only you knew how tough it was for me to make this decision. I would be very hurt if people thought I didn't do anything to move out after wedding...
Have you tried going down to HDB four times just to know how to get my ownership status out of my current flat to purchase a new one?
Have you felt the shame for your aging parents who have to borrow $65,000 from relatives and friends just to help me fulfill my dream to get my own flat after wedding?
Many people suggested for me to sell off my parents flat and my parents can consider purchase a smaller one, and I can get my own flat with Irene. But out of the five alternatives, this suggestion is by far the worst. Sure my parents will agree, but the complications come when HDB will register this as your second purchase. I wish I can explain it easily, but it wasn't the best option considering the costs, and the logistics, and the disadvantage that Irene and I will lose the benefit of purchasing a 2nd flat from HDB. It's too many red tapes and complex... Arrgh!!
It was with much reluctance that I choose to stay with my parents after the wedding. The only thing I can do now is to plan to get our own flat in 5 years. I had arranged with HDB to pay off my parents' flat loan from 14 years to 5 years, increasing the loan repayment from $818 to $1246 per month. I also stop using my CPF to pay for my parents flat, and raise $200 more monthly to pay off my parent's flat.
I don't want to go any further. But that's what I can do now.
This is my reply to friends who had asked us our housing plan after our wedding, and it's going to be the same reply for those who are going to ask me.
This is the most difficult question... and it doesn't help me by proposing alternatives to our housing issue. I already felt bad that I cannot afford my own flat with Irene. Who doesn't want to have his own haven with his love one after wedding. I do, and I look forward to start a family with Irene raise our kids without our parents' intervention in our very own house we call home.
If only you knew how tough it was for me to make this decision. I would be very hurt if people thought I didn't do anything to move out after wedding...
Have you tried going down to HDB four times just to know how to get my ownership status out of my current flat to purchase a new one?
Have you felt the shame for your aging parents who have to borrow $65,000 from relatives and friends just to help me fulfill my dream to get my own flat after wedding?
Many people suggested for me to sell off my parents flat and my parents can consider purchase a smaller one, and I can get my own flat with Irene. But out of the five alternatives, this suggestion is by far the worst. Sure my parents will agree, but the complications come when HDB will register this as your second purchase. I wish I can explain it easily, but it wasn't the best option considering the costs, and the logistics, and the disadvantage that Irene and I will lose the benefit of purchasing a 2nd flat from HDB. It's too many red tapes and complex... Arrgh!!
It was with much reluctance that I choose to stay with my parents after the wedding. The only thing I can do now is to plan to get our own flat in 5 years. I had arranged with HDB to pay off my parents' flat loan from 14 years to 5 years, increasing the loan repayment from $818 to $1246 per month. I also stop using my CPF to pay for my parents flat, and raise $200 more monthly to pay off my parent's flat.
I don't want to go any further. But that's what I can do now.
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