{"id":104787,"date":"2019-03-08T11:17:22","date_gmt":"2019-03-08T04:17:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/single-woman-looking-for-a-home-the-struggle-is-real\/"},"modified":"2019-03-08T12:04:41","modified_gmt":"2019-03-08T05:04:41","slug":"single-woman-looking-for-a-home-the-struggle-is-real","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/single-woman-looking-for-a-home-the-struggle-is-real\/","title":{"rendered":"Single woman looking for a home: The struggle is real"},"content":{"rendered":"


\nWe examine some of the housing issues facing single women in Singapore and offer some helpful tips.
\nThe world is celebrating International Women\u2019s Day today (8 Mar) with many events taking place to commemorate the special role women play in our society. Despite this, many of them, especially single women, continue to face challenges when it comes to buying a home in Singapore. At PropertyGuru, we want to help everyone, including women, make a more confident property decision, and have identified some of their main issues and offered tips to help them through their home buying journey.
\n1. Security
\nOne major concern when buying a home is security, more so for single women who intend to live on their own. Living alone means they won\u2019t have anyone to protect them from potential intruders who might try to break in.
\nSingaporean Alexis Poon made security a priority when she started looking for an HDB flat about eight years ago.
\n\u201cAs a single woman, safety was an important consideration. Before signing on the dotted line, I took a walk around the neighbourhood in the evening just to check if the common areas were well-lit and free from strangers lurking around,\u201d said the 43-year-old.
\nGet more insights on the right locations for your new home at\u00a0AreaInsider\u00a0
\nAside from checking the area\u2019s reputation, some experts also suggest installing home security systems with loud alarms to prevent potential burglaries. If possible, avoid staying in corridor units facing the public walkway as it means less privacy and could attract prying eyes. Also, try to foster close ties with your neighbours as they\u2019re living closest to you and can help out in case of emergencies.
\n2. Affordability
\nIf there are couples in Singapore who are both earning yet struggling to repay the monthly instalment on their housing loan, what more for single women.\u00a0
\nAffordability was an important consideration for Poon. \u201cI was buying the unit on my own and would not be able to turn to a husband to pay the mortgage if I suddenly found myself out of a job,\u201d she said.
\nPurchasing a home own your own can be financially tough, but it\u2019s not impossible. It requires discipline and strict budgeting, which means knowing how much you earn and listing down where the money is being spent.
\nAccording to financial gurus, your mortgage payments should not exceed 30 percent of your monthly salary. Another advice is to save enough money for the property\u2019s downpayment, as a higher initial cash outlay will significantly reduce your monthly loan instalments. You should also set aside enough money in case of medical emergencies or if you get retrenched.
\nCalculate your mortgage repayment with PropertyGuru\u2019s\u00a0Mortgage Repayment Calculator
\n3. Loneliness
\nNo man\u2019s an island. People need the companionship of others in order to thrive and prosper. If you\u2019re living alone, there\u2019s a chance that you could fall into loneliness and depression.
\nSo if you\u2019re a single woman who intends to live alone, then its advisable to look for a home that is within proximity to your family or close friends.
\n\u201cLike many single women, I was expected to help look after elderly parents, especially if they fall ill. As such, distance between the family home and my new place was an important consideration. Hence, I intentionally narrowed my home search to properties within walking distance of my parent\u2019s home,\u201d said Poon.
\nAnother good piece of advice is to invite your friends over to your place during weekends, or plan a weekly social activity. You can even initiate simple social interactions with your neighbours, which could help foster a closer relationship.
\n4. Age restriction
\nAnother challenge is that HDB only allows Singaporean singles aged 35 and above to purchase a flat. As such, Poon hopes that the authorities will consider lowering the age requirement.
\n\u201cIn view of the increasing number of singles in Singapore, I think the government should look into lowering the minimum age to purchase an HDB flat. I would suggest lowering it from 35 to 32.
\n\u201cI know of many singles who wish to move out of their family home, but are unable to do so because they have yet to hit the qualifying age of 35. There are no age restrictions for private property, but many are unable to afford the much higher prices,\u201d noted Poon, who bought an HDB flat in the central region.
\nShe said one group greatly affected by the age rule is divorced mothers, who are forced to move back to a cramped family home with their children or rent a small apartment until they reach 35.
\n\u201cI think single parents should be allowed to purchase an HDB flat (if they can afford it) regardless of gender or age. Children should not be made to suffer because of their parent\u2019s divorce,\u201d she added.
\n5. Limited options
\nPoon also pointed out that singles can only buy 2-room BTO flats currently. If they want to purchase a larger unit, they need to purchase a resale HDB flat.
\n\u201cI think the government should re-look this regulation and consider allowing singles to apply for three-room BTO flats as well. Singles should not be forced to make a choice between affordability and a more spacious and comfortable home,\u201d she said.
\nShe also feels that the government should review its policy of only offering grants to married Singaporeans who want to live near their parents.
\n\u201cThis is another policy that I think the government should re-look. The duty of caring for elderly parents tends to fall more heavily on singles because the married child would be busy caring for their own kids. I think the grant should be given to any child who chooses to live near his or her parents regardless of marital status,\u201d she added.
\nFor more helpful tips on the buying property in Singapore, check out our Guides and Resources
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
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