To some of my friends or co-workers, I am seen as an oddball in terms of the property purchase. My friends and co-workers have been sharing the benefits of buying a property such as HDB flats or condominiums as way of wealth building and advised me to follow the horde in doing so. I politely declined their suggestion and indicated that property purchase is not in my pipeline. They will query further on the reason. I previously informed some of them that I prefer to invest my fund in the shares and I do not see the property purchase as a way of wealth creation. They will not agree with my opinion and dismissed it as naïve. Since then, I no longer engage them on such topics and will simply inform them that this is my view and we should respect each other’s views.
Back to the topic of property purchase, I am of view that one should opt for the purchase if one has the ability to pay for the full sum without the need of taking a loan. This will take time for one who need to save the money. Ordinary people who are in their 20s, are unlikely to pay this sum in full when they enter the workforce. In my view, there is no need to rush into buying the property as one can still go for the option of renting when he/she takes time to build up the cash stash in this aspect.