Goodbye to my first home 😢

Just sold my home 😢 Can’t help but feeling sad and a bit emotional. I have had so many wonderful memories here.

17 years ago as I was unable to apply for HDB as single (below 30 at that time), the only option for me was to buy a condo. Luckily for me, I was able to pay downpayment with all my savings and CPF at that time. I knew very early on my first big purchase would be property. So branded handbags or buying a car was never on my mind. I have always live way below my means so I could save and buy a property as soon as I was able to.

Fast forward 17 years, I am in a dilemma to either to stay on in this condo or downgrade to HDB.

Benefits to stay in this condo

🌟wonderful location - near city and many nice eateries. Walking distance to Bugis, Little India, Arab St, even to Marina Bay

🌟stunning view - the sunrise every morning is amazing

🌟convenience and access to sports and nature

🌟pleasant environment and well maintained property despite it is already 17 years old

Benefits of downgrading to HDB

🌟💰- as I bought this condo 17 years ago, there is a sizable gain today. If I encash the profits, I could buy a bigger but older flat with the profit.

🌟complete renovation would convert an old flat into condo-like apartment

🌟much lower property tax and management charges. A few hundred dollars add up over time. Even though there are very nice bbq pits, swimming pool, tennis courts, gym, etc in the condo, I have seldom used all these facilities all these years. What a waste! I know!!

🌟 Early retirement! I am pretty tired of working long hours and not to mention the dreadful corporate politics. I know I am lucky to get to where I am but I also don’t forget the amount of hard work, tears and pain to reach here. Grit and resilience is something I need to call out as I do find missing in many youngsters these days. (Hope I do not offend any millennials here.)

🌟spare cash to do other investments

I know selling my condo is the right thing to do. But I feel the need to write this so I could let the emotional part settle and accept this decision positively.

Now to the start of 15 months wait-out period before I can buy my next home (HDB)

#condodowngrade #earlyretirement #goodbye #newstart