Uncle not born with silver spoon, no rich parents to dispense money to me for large life expenses (marriage, housing), but Uncle not complaining as Uncle has responsible/sensible parent (yes, parent) to give Uncle a chance to complete undergraduate studies to get a basic degree to get a good starting point in career (in general lah).
So when Uncle started working at age of around 25, I have $1000 in my name. And it starts from there. Uncle don't live like a miser. I go on dates, go clubbing, buy gadgets, even buy car. But somehow Uncle still managed to diligently save 10-20% each month consistently, and this percentage goes up when my pay increases over the years (i.e. expenses/lifestyle costs rate of increase is lower than pay increase rate)
Still, Uncle cannot afford to buy condo when I got married. So have to go for BTO HDB, which we were lucky as there was a surplus of HDBs in the mid-2000s, so HDB has balance of new flats for Uncle to pick and choose and move in immediately once paperwork is done. Plus HDB very generous (or desperate), give Uncle $50k discount off the list price. Huat ah!
Anyway, this is not to bash HDB, they do what they have to do and Uncle appreciates the hard work my fellow countrymen do to keep Singaporeans housed.
Uncle has lived in HDB all my life since I was born, so buying my own HDB after getting married doesn't require adjustment in lifestyle. The real adjustment is to learn how to manage my own household, maintain the house and pay the bills lol.
Almost 10 years later, Uncle decided to change to Condo. Why? it is to take a bet, to take risk, to see whether can catapult Uncle into higher financial level (vs just saving from income). Uncle made a lot of calculations until Uncle's Casio calculator also died. Uncle very kiasi one. Why? Because Uncle only have Uncle (and Uncle wife) to fall back on if something goes wrong. No rich papa/mama as backstop. So Uncle very careful.
Anyway, Condo was to accelerate the growth of my capital as Uncle believe it goes up faster vs HDB. As for difference in Condo living vs HDB, these are Uncle's experiences:
1. Neighbours...Condo you see more foreigners as Condo has more rental units (at least during my time) compared to HDB. So you get to mix with a more international community. Good or bad, I don't know. But whether they are more friendly or not, I think it doesn't really depend on nationality. It is really personal. But one thing for sure...if you kena rowdy condo resident who is a tenant, good luck to you. For HDB, tenants tend to be more obedient because HDB ultimately is govt controlled, which means you can easily get Town Council/Police over. But condo, you are mostly on your own. Even the security in condo can be very timid.
2. Facilities...first time condo owner, sure try to use all the facilities...bbq, function room, pools, gym. For Uncle, that lasts for about 6 months lol. After that, I hardly use anything except gym. So wonder why I pay $300 per month for maintenance of condo, hahahah
3. Freebies from Govt...nothing for condo owners. Too bad. but Uncle understand the sensitivity there. It will be politically unwise to give rebates to private condo owners.
4. Status...nobody gives hoot whether you stay condo or HDB, unless your condo is in Orchard road. But Uncle seldom tell people where I stay unless asked. Some people can have very red eyes and change their attitude towards you one haha. Stay low profile.
5. HDB is definitely cheaper to stay, in terms of running costs. Property tax for condo is much higher, and condo has maintenance cost to pay each month. HDB just pay some town council fees, and if you don't drive, you don't have to pay for carpark cost.
6.Cleanliness , I think about same. HDB can be very clean if new estate. Condo can be very dirty if old condo.
Would Uncle move back to HDB? I think I will if it makes financial sense, esp when Uncle become old old Uncle. Old old uncle no need gym, pool, and won't drive anyway. So condo is really just too expensive. But if Uncle does well financially, stay in condo also ok lah.
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