A reader of my blog shares with me the dilemma that he and his wife are facing: They know they shouldn’t buy when property prices are on the way down. But they are expecting their first child and want to get a condo unit now.
Buying condo for the sake of your child
If you can afford a private property and you want to buy one, do it by all means.
But take a step back and ask yourself: Are you buying a private property for the future of your child, or just for fulfilling the Singapore dream of living in a condo?
One day you might say that you have to buy though you know prices will drop after your purchase; that you have no choice but to buy when prices are high; that you have to work two jobs to pay the mortgage – all for the sake ......