Mortgage bound

Finally.... I found a place.

Last Saturday, and coincidentally also on Singapore's 49th Birthday, I signed the contract at the real estate agent's. I am now officially a first home owner!

Although not quite a REAL home owner yet. The house is off-the-plan, so it is not yet built, and will take a year to complete. The expected completion date is August 2015, assuming no delays.

After I signed the contract with shaky hands, I couldn’t decide how to feel – should I feel excited? Yes I should be – it is a new house, and MY house! I will be OWNING it! No longer renting and dealing with bonds, house inspections, fear of getting kicked off for whatever reasons. No longer will I be helping someone else paying off for their mortgage. I will be paying off MY own mortgage for a property that will be MINE. It is an asset, a fixed asset.

But on the other hand, should I feel anxious or fearful? Maybe – What if something goes wrong? What if there is a catch in the contract that puts me at a disadvantage? What if the house does not build on time? What if the builder runs away? What if there is something wrong after moving in? What if I regret with my decision? What if this is not the correct choice, and I found somewhere else better than this one? There were so many questions circling in my mind and that feeling overthrew my excitement and happiness.

I guess for now there is absolutely nothing I can do now except to sit and wait til next year when the building completes. For now, I will still be renting, and will have to save for my mortgage repayments afterwards. I foresee myself being so so SO broke in future.

But nonetheless, I fulfilled my wish. One of my wish. Now on to possibly fulfil my next wish – apply for Hamer Scholarship to go to Korea for 6 months! 

And last but not least: this is the look of what the building would look like once it has been completed: