Three women absolutely killing it at property ownership

Traditionally, men have been seen as the high earners and owners of swanky property.

But in the 21st century (where we live) powerful independent women have smashed that stereotype and thrown it out the window. That said, some nasty outdated stereotypes still exist about women. We think representation is an important way to shape perception.  That’s why we found 3 such women to tell their story. On International Women’s Day, no less.

No matter your gender, there’s plenty we can learn from them.

Sherry, 32 – bought a 2-bedder at Stirling Road Residences 

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I broke up with my boyfriend about two years back because he felt insecure about me earning more than him. I was heartbroken because it was such a silly reason.

My mom was shocked because we had been dating since secondary school. Back then, my parents were worried for me because I’m already in my late 20s and I had yet to settle down, much less own my own home. 

But turns out, not having a boyfriend allowed me to focus even more on my career, and I dedicated all my time into building my net worth. Last year I bought a two-bedder at Stirling Road Residences as an investment property, as I continue to live with my parents. 

If you are a single woman reading this, don’t ever let a man tell you how much you can earn – your potential is limitless. The partner you look for should acknowledge your capability and not be intimidated by it.

If he is, he probably isn’t the one. 

Karen Chan, 39, bought a two-room HDB flexi flat in Punggol Waterway Sunrise

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While most have the mental and physical support of a family, I grew up separated from my family since birth. In real-life, I was in an orphan situation; my father passed away when I was five, and my mother was the breadwinner to her mother and sister. However, technically, I do not qualify under the Orphan Scheme and had to wait till the official age of 35 to apply for a flat.

When I turned 17, I knew I had to work harder than my peers to ensure I had a roof over my head. Today, my flat is loan-free and paid via my CPF – this was made possible as I started work at 19 while pursuing my diploma, and worked several jobs.

I also chose to purchase a BTO flat over a resale or condominium as I wanted to go loan-free. I’ve witnessed peers who purchased properties and cars at their peak, but lost it all due to retrenchment, illness or divorce. I also witnessed the cyclical recession, as well as loss of jobs due to digitisation and remote hiring in other countries. I did not want to experience the same thing.

As I am a workaholic by nature and travel quite a bit for work and play, home is almost a pit stop for me. I looked for a home that exudes my interests: nature and adventures. So when I chanced upon Punggol Waterway Sunrise, an eco-development that’s a stone’s throw away from Coney Island, it felt like a summer home. Plus, it’s the first property that welcomes the sunrise at the edge of the island.

I purchased it for a total of $125,370, including the $15,000 premium that singles have to pay for two-room HDB flats under the Single Singapore Citizen Scheme.

My partner will also be purchasing a flat; we purchased separate homes to avoid complications in the event of death or separation but most importantly, independently owning our assets. We intend to monitor the economic situation and have plans to purchase a private property in Singapore or a villa in Bali for investment and additional income. Both are dependent on the outlook of the global market and future property law revisions. 

Cassandra Choy, 28, bought a 2-bedder in Bartley Ridge

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Last year, I bought a 792sqf apartment in Bartley Ridge. Owning a private property before 30 – and on my own – has always been one of my financial goals. The fact that my current income does not allow me to apply for a BTO nor EC with my future spouse, was an additional push for me to look for a condominium apartment.

I wanted somewhere central and near my current home in Bishan. The Bartley Ridge apartment is near Bartley MRT, has an efficient layout and is on a high floor. Best part? It has an existing tenancy. 

I bought the apartment for $1.07m, and the rent is $2,500 a month. The tenancy will end in October 2020 but I’ve yet to decide if I will continue being a landlord or for my own-stay.

I would not have been able to do this without having some liquidity. To reach this financial independence, I started saving from an early age and made sure to set realistic financial goals yearly. I also cut down on unnecessary financial liabilities as these tend to snowball. 

 

FIN

If you are very clear with your own finances, and stay realistic, you can do the same, too. 

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