 "I
was happy in my old condo and set financially. When I moved into a
new apartment, here's what it cost me
- my kids are not happy as they have left their friends
- our new condo is further out so, transport costs are higher
- renovation for the new place - the bills are still coming in!
It cost me more
than I planned for, so I am really short of cash right now
- I was set in the old condo financially but now I must work
after my retirement age to pay my new loan
- my monthly installment for my loan is higher, so my monthly
cashflow is tight
- I lived in my old condo for 15 years and got used to the
shops, the schools and the community - now my environment has
changed and I don't feel so comfortable
- the money in my CPF for my retirement has gone towards my new
home - so now I have to catch up and save even more to retire with
some savings...
I only en bloced because my neighbours voted for it. They all
have down graded or increased their debt. The idea that en bloc
makes you cash-rich is absolute rubbish. En blocs only benefit those
who are cash rich to begin with and bought the place as an
investment or to flip. "
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