19 Jan '18, 3pm

Renting vs Owning a House: Which is More Practical in Singapore?

Renting vs Owning a House: Which is More Practical in Singapore?

Singaporeans have traditionally preferred home ownership, as the government used to tell our parents and grandparents that one of the best things about living here was that they could own their own home. However, the younger generation is increasingly mobile, and many don’t see themselves living in Singapore their entire lives. As such, whether we should rent or own a home has become an important question. Picture: BankBazaar.sg Here are 5 factors to consider that will help you decide whether you fall in the buying or the renting category 1. Evaluate your savings You should buy a house if you have enough and more after paying the down payment. Remember, once you invest in a house and start to live in it, the savings you used for the down payment will stop generating income. Say goodbye to your CPF Ordinary Account if you used it to finance the purchase. You should rent a h...

Full article: https://www.iproperty.com.sg/news/renting-vs-owning-a-hou...

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