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      Buying Vs Renting
  More than 90% of households in Singapore own the homes they live in. In some other countries, it is quite common for people to rent their homes, rather than buy.

In Singapore, rental is typically seen as short-term accommodation. For example, a young couple may choose to rent because they do not have cash for the down-payment for a property.

One likely reason why most people choose to buy instead of rent is that they can use CPF savings to pay the housing loan, instead of paying out-of-pocket cash for rentals. Also, while rental is an expense, a housing loan instalment is a payment for an asset.
 
 
Buying a home:
Advantages
Disadvantages
If you have bought prudently, your property value may increase over time
A cash deposit is needed (though this will reduce the mortgage amount)
You may renovate and decorate to suit your taste
Risk of not being able to meet mortgage payments due to unemployment or changes in income level
Easier to develop a sense of permanence and belonging to the neighbourhood
Interest cost on a mortgage loan may be as much as the cost of the home itself (depending on the mortgage details)!
Renting a home:
Advantages
Disadvantages
More flexibility in changing your home if your financial situation changes
You may be subject to rental increases
When family size grows or contracts, you can change your living environment accordingly
You won’t benefit from any increase in the value of the property
You know exactly how much you have to spend each month on housing expenses.
Some people prefer to have “a place of my own” which carries a positive emotional feeling

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