According to an article in Straits Times dated 26th Feb 2018, Mr Yeoh who is a resident that needed to give up the canteen helper job a few years ago because he had a poor health, and he was actually diagnosed with cancer. The problem for him and his wife is that he had to move from a 5-room flat to a 2-room flexi flat and a 30 year lease came with that one. They are not the only people doing this.
Most seniors are downsizing right now, but it’s easy to see why. Not only do they want to avoid spending a lot of money, but they want to figure out a good, creative and professional way to handle with the shorter leases in a meaningful and powerful way. The best part about handling them this way is that it’s a lot easier for them to move into a smaller place.
Is it wise to give up your financial security and follow the type of dream that may never be able to pull of adequately? It can happen, but in the end the best thing that you can do is to identify the best options and just go ahead with them the best way that you can. This approach is quite good for old people that want to downsize.
And it seems there are a lot of seniors that prefer such an approach. The system is so popular to the point where multiple two-room flexi flats will be launched in Build To Order projects. It’s quite an interesting approach to be had here and it does pay off immensely due to that. However, what you do need to realize here is that this system works for everyone. And if you don’t have a lot of money, things can go even better if you think about it. But you have to know how and when to track and handle everything.
Will it be worth it for the seniors that use this system? Of course, because they get to protect their livelihood in a way, and that’s extremely important to take into consideration. Whether it will be worth it or not, that’s hard to say. But a lot of people believe that using such a system does make a whole lot of sense, so we need to be committed to this idea and to take it to new heights whenever that’s possible.
Learn more from the Straits Times article below
http://www.straitstimes.com/singapore/housing/nine-in-10-older-buyers-of-two-room-flats-opt-for-shorter-leases
Like HDB flat owners, a lot of the Singapore Condo owners are also downsizing their condos as they are getting older. Perhaps other than downsizing, getting a home that is closer to the MRT station/bus stops is also very important. Below are some new launch condos that are near public transport.
