- I had a need for the funds: having moved back to Singapore to take care of my Mom who is in her 70s, I doubt I’ll have the freedom to live overseas in the near future. As such, I won’t need a home in London, but rather a place that can comfortably home my Mother and myself in Singapore.
- The maintenance fee is horrific: Unlike in Singapore, where your maintenance fee is fixed and paid on a monthly basis, my UK maintenance fee ( or “service charge” as they like to call it)
Last week, I shared the lessons I learned after making my worst investment decision to date: buying a new-build, Zone 1 London property. Thankfully, after almost 10 years on the market, I finally received an offer for it. Something I’m less thankful for: accepting that offer would still leave me 20% in the red. Despite that, I had to sell, mainly for the following 2 reasons:
