There’s a ‘uniquely Singapore’ way of proposing to a lady,
“Let’s apply for a flat together.”
Unknowing to both parties, this is often the root of future problems.
During my 1st year in Singapore, I rented a 4-room HDB flat from a young lady through referral from work. Back then the rent was $850, including utility costs.
One evening, I heard someone opening the door and a guy stepped in. We stared at each other for a few minutes in shock.
He explained that he was the owner of the flat. I said that I was the tenant.
He told me that he was not aware of his ex-wife renting out the flat. He’s the one paying the monthly mortgage and utility bills (while she’s pocketing the rent every month).
Obviously, they had separated and were waiting for the HDB 5-year minimum occupation period, before they could sell the flat and split the sum.
I moved out of the flat before long.
I often hear stories of couples applying for a flat together before saying I do. When the flat is ready, they have to give it up because they’re no longer with each other.
Recently, a lady called off her wedding with her fiancé, making her ineligible to buy HDB’s DBSS (Design, Build and Sell Scheme) flat that she booked under the Fiancé/Fiancée scheme.
To make matters worse, she was asked to pay S$122,000 (20% of S$610,000) as a penalty, on top of the stamp duty, legal fee and interest of the purchase.
Gosh! If only they had bought a private property, she could at least have the following three options:
1) Forfeit the 1% to 5% deposit (if she’s lucky, the seller or developer may consider returning her deposit);
2) Try her luck at flipping the option before exercising; or
3) Resell to make a profit if transaction has been completed.
My first Singapore boyfriend once suggested that we applied for a EC together. But I found it strange to talk about any living arrangement before consent of marriage.
Some boyfriends would drop hints like “I will buy you a condo one day when I have the money”, or “I’ll buy an apartment around $1 million”. (But how long do I have to wait? Can I buy my own while waiting?).
They’ve all been very sweet. But honestly, I feel more comfortable buying investment properties myself using my own savings, though I don’t mind co-owning my residence with my spouse.
And I don’t think you have to get married before buying your first property.
If you have the means, just go ahead.
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