Hi there!
I think there's an important distinction to make here.
**Moving out of your parents' home and buying your own property are two different decisions.**
In Singapore, it's quite common for unmarried adults to continue living with their parents, and I don't think there's anything wrong with that arrangement if everyone is comfortable with it.
Unlike in some other countries, moving out at 18 or 21 isn't necessarily regarded as an important milestone of adulthood here.
And from a financial perspective, staying with your parents can certainly be advantageous.
Instead of spending a substantial amount on rent every month, you could build up your savings, invest and eventually put yourself in a stronger position to purchase your own home.
However, I wouldn't go as far as saying there's no reason to move out.
**Having your own space, privacy and independence also carries value, even if that value cannot be measured purely in dollars and cents.**
For some people, living with their parents works extremely well. For others, having their own place becomes increasingly important as they grow older, particularly when their lifestyles and priorities change.
There's also another point worth considering.
If someone is staying with their parents to save money, what are they actually doing with those savings?
Are they investing consistently, building up their future housing funds and making meaningful financial progress?
Or are they simply enjoying the additional disposable income without putting anything aside?
The financial advantage of living with parents only becomes meaningful if the opportunity is put to good use.
I also believe we shouldn't automatically assume that buying a property at a younger age is a poor financial decision.
For someone who can comfortably afford a suitable property and intends to hold it for the long term, purchasing earlier may allow more time to build equity through mortgage repayments.
In that sense, a housing loan can also serve as a form of forced savings, although mortgage interest, ownership expenses and the risk of capital losses must be taken into account.
Of course, buying too early and overstretching financially would defeat that purpose.
**My personal view is that there's no need to rush into buying a home simply to demonstrate independence. But there's also no need to delay buying purely because staying with your parents is cheaper.**
It comes down to what you want from your living arrangements, your financial position and your longer-term plans.
If staying with your parents works well and allows you to accumulate meaningful savings, that's a sensible arrangement.
But if you're financially ready and value having your own place, there's nothing wrong with taking that step either.
Ultimately, I think the objective should be financial independence and a living arrangement that suits you, rather than following a particular age or cultural expectation.
Hope this offers another perspective!
Geryl Lim
CEA Reg No: R014783H
9278 7772
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