Is FREEHOLD landed the ultimate goal in life?

  • 2 months ago
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When it comes to buying a home in Singapore, the debate often boils down to one question: freehold or leasehold? While many people lean towards freehold for its lasting value, my journey shows that a leasehold property can be just as rewarding, especially when you have specific family needs in mind.

Family Needs: More Space, More Comfort

Like many of us, my family and I started in a four-room flat. With my mother, sister, and two growing children, space became tight—imagine everyone juggling to use one study table! As my children grew older, it is obvious that they needed their own space. Not just for privacy, but to flourish.

As for my 82-year-old mother, who longed for the kampong houses of her youth in Malaysia, also deserved a comfortable, spacious place to live her silver years. The family’s old flat simply couldn’t meet these emotional and physical needs anymore.

The Leap to a Leasehold Landed Home

When I found a 99-year leasehold landed property for $3.6 million, it felt like striking gold compared to the hefty $6 million tag on similar freehold homes. I jumped at the chance, not only because it was financially sensible but also because it fit my family perfectly. Suddenly, everyone had their own room. No more fights over the bathroom, no more waiting turns at the study table, and maybe if we want, there is even a room for a helper.

What About the Future?

Some might worry about the leasehold status, but try thinking ahead. By the time the lease runs out, my son who is 19 years of age now, will be 105 years old—plenty of time to enjoy. And in the meantime, the house’s value has already gone up by 10% in less than a year since I stayed here. Not bad for a property that some might overlook because it isn’t freehold!

Conclusion

My decision to go for a leasehold landed home was not just practical, it was strategic. It offered me a solution that a freehold landed simply couldn’t match at the time—affordability without compromising on space or comfort. I chose to prioritize my family needs, ensuring my mother could enjoy a lifestyle she enjoys, and offer my children the space they needed at a critical time in their lives. Choosing leasehold meant that I could invest in a property that met my family’s needs today, with confidence in its appreciating value for many years to come. My example shows that the right home isn’t just about how long you can keep it, but how well it serves your family’s needs. For me, a leasehold landed property was exactly the right fit.

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