Hi, I personally felt that you should buy a house instead of renting cos prices of flats are going higher due to the higher valuation report. With your own house, it's much easier for you to make decisions like your kid's future school etc..I do that with my parents - I tell them that I'll take their words into consideration - but still I get nagged about it coz to them, I MUST MUST MUST do what they say coz they are older, they so-called know better.
The latest issue is house-hunting. Hubby and I have been talking for a long time about buying a place here in Singapore because the rental is just too high right now and we feel that we'd rather invest that money into our own place. I have already explained all this to my parents - initially, they kept bugging us to buy a place but now, my dad is angry at us because according to him, we are "rushing" into the matter.
He wrote a lengthy email (coz every time I call, the moment I hear his voice, I just feel like ignoring him) stating that renting is better, that having no loans at my age is a good thing (coz it's less stressful on our marriage), that it's better to let our savings sit in the bank instead of investing it in a house and so forth. All this even after I told my mum already that Singapore real estate market is NOT the same as Malaysia. In Malaysia, you can afford to take your time but not in Singapore. I watched the market loosely since November last year - that's how long we took to decide - and every time the price went up, I feel a pinch.
Before this whole issue, my mum offered to loan us the money if we need it. When I asked her if it was okay, she would say yes but the next day, come and tell me that she will lose interest if she gives me this amount which is tied to an FD or that amount tied to this FD. So the money she can loan to us is actually hers and my dad's. Bah. Over the phone, I can hear my dad grumbling and apparently, he told my mum this (coz he didn't say anything when my bro bought the house without telling them but actually he did) - "That's different. If they dont't ask me for money, I won't say anything but they are asking me for money, so it's my right to comment". (What utter nonsense because he critizes my bro's choice of a house non-stop when they first moved there.)
Dealing with them became so stressful for me that I told my hubby to loan from his dad instead. In sharp contrast, when my hubby called up his dad to let him know that we were thinking of buying a place and such, his dad was very supportive and when we asked for the money, my father-in-law said no problem.
I feel very embarrassed that I have parents like this. Parents who can ask my hubby what he got from his grandma when she passed away, who got what; parents who go around opening people's cupboards and shelves in their homes; parents who make comments like "Your mother-in-law must be rich coz she stays in a house with so much land", etc, YET cannot lend money to their own daughter without coming up with a ton of excuses OR criticisms.
It's not as if I'm taking money from them (or my in-laws). It is a LOAN and family or not, hubby and I intend to pay back every cent. Why must my parents take it as if me loaning money from them gives them the right to interfere and decide on my behalf? As if I owe them my life, that sort of thing...that's how I feel when it comes to taking money from my parents. On top of that, my dad knows absolutely NOTHING about real estate outside of Malaysia. He keeps telling my hubby and I to be "safe", "safe", "safe".
I got so angry I told my mum this - "I'm already 31 and most of my friends who are of the same age are living in their own place and paying for a housing loan if not two. Here I am still renting. You guys can talk and say that so-and-so is stupid for renting for so long. Why are you telling me to do just that?" My mum just kept quiet.
I really really want to sit down and tell them to just back off and let us live our own lives, especially with things like staying in Singapore (my parents wants us to stay here forever), having more children (my mum wants me to have another kid so she can take care of my daughter now in KL), moving my daughter to KL so my mum can babysit her and I become a weekend parent OR my mum quitting her job and moving to SG permanently...but here lies the trouble - I dont't know how to do it. :/
Looking at the area that you r staying now, prices looks quite ok n reasonable still. If you r looking at the east like Reservoir, Tampines and Pasir Ris, you should be able to buy a three or four room at about 300k to 400k.