Reader:
I was looking to buy a shoebox condo until I read your blog. I turned 35 recently and will try to get my own BTO 2 rm HDB flat. This will help me achieve financial freedom earlier. :)
However, a friend (same age) just bought a 40 yro HDB flat. He didn't think age was important but I told him about the lease decay issue. He cannot sell the flat right away because of the MOP. Do you have any thoughts on this?
AK:
I will share what I feel are situations when it might make sense to buy properties with relatively short remaining land leases.
1. If we are making it a home with no intention of reselling or leaving a legacy, make sure that the remaining lease is enough to last us till we are 90 years old.
People are living longer and we are expected to live till almost 90 these ......