SINGAPORE: Living independently and owning a flat truly entails enough savings, especially if one is single and is managing all of his/her finances alone.

• This is the concern of a 29-year-old single netizen on Reddit, where she shared that affording her own flat looks so ‘bleak’ as of the moment. She said that she was earning $5K per month, and if she were to stay single, she will have to fight for a build-to-order (BTO) at the age of 35, and the earliest age that she might be able to have one is at 38, if she’s lucky enough to win the ballot lottery. 

“If not, buy a resale HDB at 35 for an exorbitant sum, and my retirement funds left would be next to NIL. And that’s assuming I don’t quit or get retrenched,” she added. 

With this, she is curious as to how her fellow Singaporeans plan this kind of concern. 

Many netizens shared their thoughts and opinions on the subject matter. One suggested that she should save and invest diligently, and find a resale 3rm flat around 500-600k. She can also budget another 80k or so for renovation. 

“Try to raise your income by getting raises at your current company or hopping job. Avoid or at least minimize exorbitant/frivolous spending like grabbing daily or buying luxury things,” the commenter added. 

Another netizen declared: “Actually, 5k monthly at 29 ain’t so bad…Even without significant cash savings, your CPF OA will likely have about 100k-150k by the time you’re 35. And with the housing loan, you’ll likely be able to afford resale flats upwards of $450k-500k.” 

One more commented that it is actually doable if she does not have crazy expectations. 

“The key is to save a lot, try to improve income during this 6 year period,” a comment shared. Furthermore, for some, they claimed that her 6 years of trying to save and invest more could also be the time that she could meet a suitable partner.

This online discussion highlights a wider concern among younger Singaporeans about housing affordability and financial security. Whether through disciplined financial savings, boosting earnings in ways possible, or adjusting expectations, many people agreed that early planning and realistic goals are important for singles aiming to buy a flat without sacrificing much more.

This article (Fellow single Singaporeans, how are you all affording a flat? Netizens share their experiences) first appeared on The Independent Singapore News.