I’m finding my condo to be a bit too small as my kids grow older. At the moment we’re all still sleeping in the master bedroom together. There’s a queen sized bed and three single mattresses for the kids.
Rachel has turned five years old and she will need her own bedroom soon.
Sometimes it’s quite… err… “inconvenient” sleeping in the same room with the kids. What a nightmare if the kids were to wake up at an inappropriate moment.
We have another bedroom reserved for guests that doubles as the kids playroom. At the back of the condo there’s a small room that has been turned into a store room.
Doing the Math
Before getting married, my original plan was to start off with a small condo. In my naivety I only expected 1 child and I didn’t predict house prices doubling after 5 years.
But we’ve had 3 kids in the span of 4 years. The value of my condo has also doubled, but even after selling it, what could I afford to buy? A slightly bigger condo?
My salary cannot keep up with the demand because our expenses continue to increase every year, especially daycare and kindergarten fees.
It’s not helping that property developers seem to be releasing premium and luxury class properties nowadays.
I don’t know who keeps buying these properties at crazy prices, and where they’re getting this money from.
More bad news. In the past few days our stock market is dropping so fast, and the value of the Ringgit has depreciated so much.
I’m not going to blame anyone. Some people want to blame the government but I hardly think this problem is their fault.
And what can the government do really? If you’re the seller of a property won’t you want to sell for the highest value? Even if you slap speculators with 15% RPGT, they’re earning 85% profit that they will promptly invest in another property.
Property prices can only come down if there’s no demand but I can only expect demand to increase.
We’ve just decided to see how things turn out in the next few years. One thing for sure, property prices will never go back to the way they were a few years ago. My only hope is to earn more money.
I’ve already started some small home refurbishment projects on the condo. Perhaps I’ll spend a little bit of money making our condo a bit more comfortable and be satisfied with what I have.
Maybe it’s time to convert that back room from a store room to a bedroom.
I am aware of the fact that I’m fortunate to even own a property when thousands out there are even worse off than me.
Staying in the condo does have advantages. We have facilities to use. There are security guards around all the time. There’s only one entrance so I don’t have to worry about burglars from any windows, back door or roof.