Your search results

Beyond Profit: Singaporean Homeowners Share Stories of Purpose-Driven Property Purchases

Posted by Jayson Ang on January 18, 2026

| 0

TLDR

In Singapore, some homeowners prioritize personal comfort, convenience, and family needs over financial gains in property purchases. YC bought a familiar condominium she had rented for years despite its aging lease and less attractive location, valuing emotional connection and space. Aaron chose a less appealing walk-up apartment near his workplace for convenience, accepting minimal profit in exchange for reduced commute and storage space. KH overpaid for an older HDB flat to support his elderly father and facilitate family closeness, prioritizing well-being over investment returns. These stories highlight that not all property decisions are driven by profit; personal circumstances and emotional value often guide choices. For those unsure whether to buy or sell, expert advice tailored to individual needs can help navigate Singapore’s real estate market effectively.

In Singapore, the common perception of property is often a dual one: a roof over one’s head and a lucrative investment. However, every so often, individuals emerge who prioritize personal circumstances and well-being over financial gains. These “true owner-occupiers” are rare, defying the assumption that such choices are exclusively for the wealthy. This article delves into the narratives of homeowners who knowingly acquired properties with little expectation of financial profit, yet found immense personal value in their decisions.

1. A Familiar Comfort: Acquiring a Rented Home

YC’s journey began unusually. Having rented an old condominium in Bedok South since 2009, she developed a deep attachment to the property. A recent widow, she and her son found solace in the familiar surroundings. “I didn’t do any research; I’m not good with property matters. I liked it because a church friend recommended it, and the landlady also attended my church. It was also very close to our former house in Lucky Heights. Although it’s not the most convenient, I find it’s larger than most newer condos, and there’s space for gardening, which I thought I wouldn’t have after moving from our landed property.”

When her landlady, a friend, decided to sell to move to Malaysia, YC, feeling a strong emotional connection and a desire to retain her established memories, offered to buy the unit. The landlady candidly warned YC about the property’s lease, which began in 1982, and its lack of proximity to an MRT, mall, or other major amenities – factors typically deterrent to investors. YC, however, remained unfazed.

“I am already so old, a 40-year lease is already more than enough for me. My son’s girlfriend has her own flat; they are planning to live there. I already have all my things here; I can’t find a place so big anymore. I have friends nearby; we go to the coffee shop across the road every Friday evening. And I am not the gallivanting type; I don’t go shopping or to restaurants. So I am quite happy to live out my life here.”

Despite the condo’s current resale value being below $990 psf (and likely to decrease further due to lease decay), YC considers her purchase one of her best decisions. The primary motivation was the certainty and familiarity gained from living there for four years prior to buying, an extensive “research” period that provided immense confidence in her choice.

2. The Allure of Convenience: An Unattractive Yet Strategic Walk-Up

Aaron faced considerable skepticism from his family when he announced his plan to purchase a walk-up apartment along Changi Road. His mother voiced concerns about its appearance, reminiscent of “badly maintained dorms,” the challenge of navigating three flights of stairs with his bad knee, and the “inauspicious” presence of a pawn shop downstairs. Even his realtor friend expressed dismay, pointing out the building’s age (late 1970s, despite a 999-year lease), maintenance issues, and the unappealing surrounding businesses. She also noted the stagnant property values, hovering around $1,100 psf for years.

Despite these warnings, Aaron proceeded with the purchase, driven by convenience. “Even if I don’t make money, it’s worth the convenience to me over the next few years. I can walk to Eunos MRT station from here, and I have my own business in Paya Lebar. It’s late by the time I close up, so I want to live close by. My girlfriend lives in PLQ, so we’re close to each others’ places. And this place is over 1,200 sq. ft. with two bathrooms, so it’s spacious enough if we settle down together.”

The unit’s recent renovations (less than five years old) and new air-conditioning minimized his additional expenditure to just $40,000. The ample space also serves as crucial storage for his business inventory, saving him significant costs. Moreover, the nearby affordable coffee shop adds to his convenience. Aaron hopes to sell the unit at cost after a decade, viewing any lack of profit as the price of years of unparalleled convenience.

3. Supporting Family: A Purchase Guided by Love and Gratitude

KH knowingly overpaid for an aging resale HDB flat (built in 1984), incurring a Cash Over Valuation (COV) of approximately $70,000. His property agent cousin vehemently advised against it, calling it “far too expensive.” Yet, KH’s reasons were deeply personal.

His primary motivation was to move in with his elderly, almost wheelchair-bound father, who wished to live near his second daughter in Bedok. KH’s own flat in Boon Lay was too far and already crowded with his son, daughter-in-law, and grandchild. The executive flat in Bedok was just minutes from his sister’s place, allowing for frequent visits, and serendipitously, his father’s old schoolmate and army buddy lived nearby, providing daily companionship. The closer proximity to his own office was an added bonus. The need for space, intensified by his father’s condition and the impending arrival of a domestic helper, made this particular unit indispensable.

“I felt from the first moment that this flat was right; it was a blessing for my family that was in the right place at the right time. So against the advice of my cousin, I told her please go ahead and let’s do the deal. I know I am overpaying, I know to some people this may not make sense, but not everything in life is about money.” KH views this purchase as a fitting repayment for his father’s selfless financial support during his own first home purchase years ago.

Despite the flat’s age and the significant renovation costs incurred, KH acknowledges that selling it today would yield “very little” net profit, possibly even a loss, despite the post-COVID surge in resale flat prices. “I don’t feel any pain though,” KH asserts. “I went into it with my eyes open, and it’s totally worth it to make my dad’s final years happy ones.” The added benefit of a significantly reduced commute to work is an unexpected bonus.

These stories highlight that while financial returns are often a key driver in property decisions, for some, the immeasurable value of comfort, convenience, and family well-being transcends monetary gains.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

Mandarin Top 5

Top 5 Boutique Shopping Streets in Singapore

Jayson Ang – July 22, 2024 –

Singapore, a cosmopolitan city-state known for its vibrant culture and diverse shopping scene, offers a unique blend of modern malls...

Buying Tips Mandarin Top 5

Sentosa’s Sizzling Property Market: 5 Reasons Chinese Investors are Flocking to Singapore’s Premier Island

Jayson Ang – June 20, 2023 –

Sentosa's Sizzling Property Market: 5 Reasons Chinese Investors are Flocking to Singapore's Premier Island Here are the top 5 reasons...

Mandarin Top 5

Top 5 Trends And Developments That Will Shape Singapore’s Property Market In The Next 5 Years

Jayson Ang – June 13, 2025 –

TLDR Singapore’s property market is set for significant transformation over the next five years, driven by rapid proptech adoption, growing...

Mandarin Top 5

Top 5 Surprising Benefits of Investing in Singapore Real Estate for Foreigners

Jayson Ang – October 27, 2024 –

Singapore, a thriving city-state in Southeast Asia, has become an attractive destination for foreign investors looking to diversify their investment...

Mandarin Top 5

5 Reasons Why It’s A Great Time To Buy Property In Singapore In 2024

Jayson Ang – February 24, 2024 –

Singapore's property market is known for its stability, high demand and strong returns. With a growing population, low unemployment rates,...

Mandarin Top 5

5 Singapore Property Trends to Watch in 2023: Expert Weigh In

Jayson Ang – May 20, 2023 –

5 Singapore Property Trends to Watch in 2023: Expert Weigh In Top 5 Singapore Property Trends to Watch in 2023...

All Blog Posts Opinion

How Can Real Estate Investment Help You to Combat Inflation?

Jayson Ang – January 28, 2023 –

TLDR When it comes to real estate investments in Singapore amidst rising inflation rates, consider strategies such as capitalizing on...

Mandarin Top 5

Top 5 Best Non-Touristy Things to Do in Singapore

Jayson Ang – October 31, 2024 –

Singapore, a vibrant city-state known for its iconic skyline and diverse culture, offers a plethora of experiences for both tourists...

Mandarin Top 5

Top 5 Instagram-Worthy Spots in Singapore

Jayson Ang – February 21, 2024 –

Singapore, a beautiful city-state known for its stunning architecture, lush greenery, and vibrant culture, is a photographer's paradise. The island...

All Buying Tips Opinion Selling Tips

The Unforeseen Impact on Your Home Loan in Singapore if Your Spouse Passes Away

Jayson Ang – September 25, 2026 –

TLDR The death of a co-borrower in Singapore can trigger complex home loan challenges beyond simply taking over repayments. Banks...

All Buying Tips Selling Tips

When Should You Consider Investing in Singapore Property, and When Should You Avoid It?

Jayson Ang – February 2, 2025 –

TLDR Investing in real estate is a complex decision influenced by personal goals, investment horizon, rental plans, and financial liquidity....

Mandarin Top 5

Top 5 Reasons : Why Do Singaporeans Still Flood The Property Market?

Jayson Ang – August 25, 2024 –

Singapore, a thriving city-state with a robust economy and a strong demand for real estate, has always been an attractive...

Mandarin Top 5

Top 5 : Benefits of Investing in Newer vs. Older Singapore Property Market Condos for International Buyers

Jayson Ang – January 4, 2025 –

Singapore's property market has always been an attractive investment option for international buyers, thanks to its stable economy, strategic location,...

All Buying Tips

Navigating Property Purchases in Singapore: Why Going Without an Agent Can Be Risky

Jayson Ang – December 26, 2025 –

TLDR Many homebuyers hesitate to engage their own real estate agent due to misconceptions about costs and conflicts of interest....

All Buying Tips

Could You Still End Up Losing Money When Buying Property in Singapore During a Market Slump?

Jayson Ang – February 14, 2024 –

TLDR When it comes to property investments, timing is crucial. Buying at the right moment is only half the battle;...

All Reports

Increase in ABSD April 2023

Jayson Ang – April 27, 2023 –

TLDR The impending rise in ABSD (Additional Buyer's Stamp Duty) is expected to suppress investment demand, allowing local homebuyers to...

All Opinion Selling Tips

The Surprising Truths of Home Ownership: How Health Challenges Led a Homeowner to Relocate

Jayson Ang – July 29, 2025 –

When thinking about staircases, light switch locations, selling our home, and similar topics, many plan for retirement, assuming these issues...

All Blog Posts Buying Tips

5 Disastrous Property Transaction Nightmares (and How to Avoid Them)!

Jayson Ang – April 20, 2023 –

TLDR When attempting to sell your property, various worst-case scenarios can hinder the sale process significantly. These scenarios include buyers...

All Buying Tips

Selling your HDB Resale Flat in 2025 [Comprehensive Guide]

Jayson Ang – August 30, 2025 –

TLDR Selling your HDB resale flat involves a structured 14-step process. Start by registering your Intent to Sell on the...

All Buying Tips Selling Tips

Singapore Homebuyers: Finding Hidden Value in ‘Undesirable’ Property Traits

Jayson Ang – June 15, 2025 –

TLDR Many perceived drawbacks in Singapore’s property market—such as mortgage lock-ins, leasehold status, west-facing units, nearby construction, inefficient spaces, and...