I can still remember the constant bickering between my parents.
As a child, my dad was a very successful interior designer while my mom was working in sales. I used to live in a huge house and my dad drove a big car. We could even take a private plane for holiday, at a time when air travel was so expensive. As a child, I got everything I wanted. Or so I thought.
But all this came to an end soon after. We were actually borrowing money for this lavish lifestyle. My dad was a hardworking man but unfortunately he was also spendthrift. He was already neck deep with debt even though he was earning good money. But as days went by, my dad’s business also started to dwindle.
Initially, he tried to work twice as hard, putting hours away from home to keep his business afloat. Unfortunately, the debt kept on snowballing and he decided to take the easier way out. He started to gamble and borrowed money, lots of money, in hopes to win more. If only he had won; today, will be a different story.
Strange people started knocking at our door. My home became a living hell. My parents continuously fought about money. People were threatening to kill us if he did not pay them. Our once comfortable home was no longer a safe place to be.
I wished it was just a nightmare
I was only six when trouble began and I can remember the day as vividly as if it was yesterday. It happened just around midnight. My two brothers and I were asleep when suddenly I heard a loud cry from my mom. It was different from the usual fights we – my brothers and I – had to endure. I slowly went out from my room. My dad was holding a knife pointed towards my mom. Suddenly, he swung the knife at my mom and it hit her hand. Blood was oozing out in gushes. I cannot remember what happened after that.
Soon after, my parents got divorced and my brothers and I were raised single-handedly by my mother. We were constantly changing houses as my fellow relatives took turns to care for us all.
Living through this experience, I would never want a similar situation to happen to any child. Financial problems are one of the primary reasons why families get separated. Not curbing our temptation to spend on items when credit is readily available, may be a cause of our downfall.
Making your home safe
Your home is a place where your family should be safe and have a worry-free environment. By implementing my 5 basic checks, you can rest assure that you will not have to worry too much on your mortgage loan. The word affordability has now been corrupted. The actual meaning of the word is to have ENOUGH MONEY to pay for. Hence, how can one who needs to borrow money, “afford” to buy a house?
The most favourable way to own a house is to pay it outright. While it may seem impossible, many Singaporeans have done it through hard work, budget planning and using the grants available to them.
If you wish to take a mortgage loan, please first follow my 5 basic checks before proceeding to get a property you want to call home. Make your home a sanctuary, not a financial nightmare.
Get an agent who not just sells to you, but serves you.