Despite the high initial cost, purchasing a home is a way to build wealth and can be a significant long-term investment. Renters, on the other hand, miss out on building equity in their home. While there are certainly financial advantages to purchasing a home, there are also costs and responsibilities associated with homeownership that are often overlooked. Whether you currently live with your family or rent your flat from a landlord, it is important to be aware of the costs and hassles associated with homeownership before you purchase a flat. Minor Maintenance to Large Scale Renovations If you're not a handy person, owning a home can be tricky. For example, all homes experience wear and tear and require minor fixes every now and then. Additionally, ambitious homeowners may want to upgrade their flat with a remodeling project, which can be expensive. The average renovation project in Singapore costs about...