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 …

All Buying Tips Selling Tips

Unpacking Property Ownership: Joint Tenancy vs. Tenancy-in-Common

Jayson Ang – September 10, 2024 –

TLDR When a property has multiple owners, the choice of ownership type is crucial to determine how shares are distributed...

Mandarin Top 5

Maximize Your Property Investment: 5 Questions to Ask Your Real Estate Agent in Singapore

Jayson Ang – March 23, 2024 –

Buying a property in Singapore can be a daunting task, especially for first-time buyers. It is important to have a...

All Buying Tips

How Much You Need to Earn to Afford a Condo 2023

Jayson Ang – October 30, 2023 –

TLDR When considering investing in a private property in Singapore, it's important to understand your borrowing capacity. Financial experts recommend...

Mandarin Top 5

Top 5 : What I Wish I Had Known about Property

Jayson Ang – March 17, 2025 –

The world of real estate is a complex and dynamic field, filled with opportunities and challenges. It's a realm where...

All Blog Posts Buying Tips

Subscribe to Jayson Ang’s Singapore Property Newsletter

Jayson Ang – December 27, 2022 –

TLDR Jayson Ang's Singapore Property Newsletter offers valuable insights on real estate investments, market trends, and expert advice. The newsletters...

All Blog Posts Buying Tips

What’s The Difference Between An Offer To Purchase And An Option To Purchase?

Jayson Ang – May 29, 2023 –

TLDR Understanding the crucial difference between an Offer to Purchase and an Option to Purchase (OTP) is vital when buying...

All Buying Tips

Why Seletar Could Be Singapore’s Next Up-And-Coming Property Hotspot

Jayson Ang – August 1, 2026 –

TLDR Seletar, once seen as a remote enclave defined by its Aerospace Park and colonial bungalows, is on track to...

All Buying Tips

5 Reasons Why Your House Isn’t Selling – and How to Overcome Them!

Jayson Ang – June 24, 2023 –

TLDR When trying to sell your home, ensure it is competitively priced based on its unique features and the current...

All Buying Tips Opinion Selling Tips

Are We Going Into Recession? What It Means for You—and Singapore Property

Jayson Ang – March 28, 2026 –

TLDR Singapore faces rising recession risks as global trade slows, with GDP contraction and cautious sentiment signaling economic headwinds. For...

All Buying Tips Opinion

Should You Splash Your Cash on a Condo Despite the Sky-High PSF?

Jayson Ang – December 2, 2023 –

TLDR The blog post discusses various aspects of investing in condos in Singapore, covering topics such as leasehold versus freehold...

All Buying Tips Opinion Selling Tips

Will Property Owners Earn More By Keeping Residential Properties For An Extended Period?

Jayson Ang – December 6, 2025 –

TLDR In Singapore, holding a residential property longer typically yields higher profits—averaging $665,000 after 20 years, versus $200,000 for 5–10...

All Opinion

URA’s Draft Master Plan 2025: A Blueprint for 80,000 New Homes Across 10+ Estates

Jayson Ang – April 23, 2026 –

TLDR The URA Draft Master Plan 2025 outlines the creation of 80,000 new homes across more than 10 estates over...

All Blog Posts Opinion

5 Reasons Why You Should Consider Hiring an Agent Instead of DIY-ing It

Jayson Ang – June 9, 2023 –

TLDR Understanding the complexities of the real estate market and transactions can be overwhelming. Enlisting the help of a real...

All Buying Tips Opinion Selling Tips

The Importance of Caution Regarding Property Oversupply in Singapore

Jayson Ang – March 10, 2025 –

TLDR Recent challenges in China's real estate sector reveal valuable lessons for Singaporeans, emphasizing the importance of understanding governmental interventions...