My First Apartment (Part II)

I bought my first apartment on 22nd August 1995 as a single girl at age ………(*calculate calculate* Writing blog posts is fun. It helps me remember things). Hmm… lets see…….. at the ripe old age of 29. (If you do your math, now you know why I need help remembering things!)

I bought the apartment for my dad and I to stay before we overstayed our welcome at my brother’s house. I don’t think my sister in law would be very happy to have her father in law and sister in law staying with her permaneantly. I don’t blame her and I think its natural for her to feel that way. When you get married and move into your new home, its more fun to start off with just you and your spouse instead of having the in-laws stay with you.

At first we had been staying at a rented house which my elder brother took over after dad retired. After a while big bro asked for rental because he said I was a working adult. I was about 22 at the time. After he got married and moved to his own new home, he kindly invited dad and I to join him. We did for a few years (I paid him rental but not dad of course) until I bought my first apartment.

So thats the brief history of why I bought my first apartment. I decided to buy instead of rent because I thought it made more sense that way. I had worked a few years by then and had enough savings to pay the deposit. I thought that servicing the housing loan for my own home would be much smarter than paying someone else to service theirs by renting.

Other than that I didn’t have any financial sense or financial plan at all. In fact after a few years, due to rising interest rates, I owed the bank more than what I borrowed. LOL! Still buying rather than renting turned out ok for me eventually. I didn’t make a profit from selling but even at break even its still better than paying rental which goes poof in the air.

Next I’ll talk about my experience in selling my own apartment without using any agent.

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  1. dragonmummy says:

    I’m back on blog hopping!! 😀

    What an achievement to own your own apartment at the age of 29. At the age of 30, I’m car-less, property-less…. NIL…. dependent on hubby. 🙁

    Well, now I’m back to car-less and property-less. Sama sama jugak. Hehe.

  2. fashionasia says:

    well, at least you know how to move out when u tumpang overdue…unlike some parasites….*rolls eyes*

    Young ppl these days cant hardly afford their own property due to the rediculous inflation… doesnt tally with the salary lo…..hey at least you can afford one before 30!! not bad not bad 🙂

    The “parasite” needs to be told sometimes otherwise they may remain ignorant. Had I not be told to pay rent, perhaps I too would remain a “parasite” ler.

  3. J Leese says:

    You are a very sensitive to other people’s needs and sensible.
    Buying and selling property very fun hor! Not in UK though….different law thus making it very tedious and full of anxiety. 🙁

    Nyah. Buying and selling property here is also tedious and full of anxiety, which explains my recent high stress levels.

  4. shoppingmum and kids says:

    Like dragonmummy, I don’t have a car, no property, and that’s because I choose not too. I’m very kiasi about installment, called me old-fashioned, but I don’t feel secured with loans. So, hubby tanggung everything. 😛

    Got hubby to tanggung everything, nvm. Hehehe.

  5. dolphine says:

    We had recently settled our apartment loan. Phew… my late mum used to nag me on why paying the bank extra coz we cwould end up paying more than what the apartment’s worth. Well I did it at last with the EPF, hooray, but she didn’t manage to see it…

    Anyway, I don’t feel secured with bank loan too… The banks are just the licensed version of Ah Long…

    Congratulations on settling your loan. It feels nice and secure to be free of the loan doesn’t it? We’ve just got ourselves a new bank loan again and we’re back to being heavily indebted. 🙁

  6. Tracy says:

    U know what? I read ur title, continued with the 1st paragraph and I was on my way counting my fingers away too … (heehee, u might guessed rite).

    Yaya, come to think of renting apartments/houses really shudders when at the end of the year …. *calculate calculate* Wow! What a lump sum and dat might have paid off the repayment.

    You were young to own an apartment. *salute, salute* I’m getting old and I’m still ‘struggling’ with the loans … sigh ….

    My family lived in rented houses for years. So effectively we have helped many others with their loan repayments.

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