Owning a home is a massive milestone for any young couple, but this is just half of the journey. What lies beyond the moment you sign on the dotted line and grasp the keys to the house is a whole other box of chocolates.
Living in your own place would be a completely new experience for most couples, and this includes setting up routines to ensure that the house runs smoothly.
Bills, fees, and the occasional replacing of a house appliance are just some of the hidden costs that come with being a first-time homeowner. And according to some BTO newbies, there’s not a day that goes by without one of these emergency costs setting them back.
We spoke to 4 homeowners who shared what it’s like to own their first homes and the tribulations they’ve faced, especially during the Covid-19 pandemic.
Having dealt with many firsts, they shared tips on how to conquer co-living and how they’ve figured it all out before hitting the big 3-0.
For most, if not all couples, setting foot into their brand-new BTOs will be the first time they’ve lived away from their families.
Though the prospect of being free of your parents’ nagging or judgmental stares as you nick a cold beer from the fridge during WFH sounds enticing, the freedom isn’t all it’s cut out to be.
Take Maggie Lim’s reality-shattering realisation, for example. The 29-year-old business development executive and her partner had led comfortable lives under the loving care of their parents.
Now that they’ve moved into their place, they’ve come to realise that the house will not magically clean itself.
They soon regretted taking the family members who did the household chores for granted.
“Moving into our own home also meant we had to take care of all the chores, some of which we had no idea how to even do. How do I use a washing machine?” she rued.
Aside from the day-to-day upkeep, becoming homeowners also means that you’re head of the household. You set your own rules and abide by them.
In other words, no one will be there to pick you up after you. Accountant Lauren Wong, 29, had to learn that the hard way.
“I love living on my own for the space that comes with it. I make my own rules, but I also pay for my mistakes.
“I’m a little careless, so sometimes I forget to turn off the A/C even when I’m not at home. As for my husband, he’ll always forget to lock up the house before leaving,” she shared.
She learned that every tiny detail has to be accounted for since no one will check up on her.
Build-To-Order (BTO) homes are usually blank canvases for homeowners to put their twists to. With so many interior designers offering different renovation packages, you’d be spoiled for choice.
While the idea of turning your first home into a stylish abode is an exciting one, the reality includes huge cash layouts and unexpected delays that throw plans off course.
Account manager Fiona Fang, 32, had a rude surprise when she finally entered her house after months of renovation.
“There were defects that hadn’t been resolved even after we moved in. We also encountered some hiccups during the reno process like miscommunication regarding certain elements like the false ceiling,” she said.
Having had her renovations done during the pandemic, she faced extra-long delays due to a workforce crunch.
“Our renovation was delayed by almost 3 months, so we had to fork out extra money to pay rent. Once they resumed, the finishing touches were rushed, resulting in so many defects.”
Of course, these setbacks are nothing new, but the domino effect could see you spending more than you intend to. That’s why content manager Amanda Feng, 29, advises others to be prepared to pay out of budget.
As a prospective first-time homeowner who embarked on her own renovation plans, she learned that the house’s previous tenants had made some poor decisions that cost them extra money to fix.
“The aircon vent was built in an awkward way that blocked one of our windows. We thought it would be an easy fix, but the electricians who inspected the issue said it would cost a pretty penny. They had to uproot the whole vent and redo the wiring.”
She also suggests renovating the home according to your lifestyle.
If you cook frequently, you’d want better quality materials in the kitchen. Otherwise, the cheaper ones might not withstand the test of time.
For many first-time homeowners, moving away from the family can be pretty liberating—you get to set your own rules and live by them.
While some may find that great, others may have a hard time if their households lack structure.
That’s why communicating and setting rules together with your partner is an essential part of co-living. Setting the right expectations of one another, dividing the chores fairly, and sounding out bad habits go a long way.
But that’s just one part of the equation; the other is a more “real” approach. As Lauren explains, she had to learn to set rules for the more mundane issues of everyday life.
“I’ve even started planning laundry days to maximise my wash load. And I only use the dryer during monsoon seasons and try to air the house as much as possible to prevent mould.”
While these may sound like the musings of a housewife, those aren’t the only applicable situations. Fiona also mentions that she had to impose some cost-cutting measures after putting down the mortgage.
“We only buy household goods like appliances when they go on sale. Since putting down the down payment, we also haven’t bought all the furniture we initially wanted, like a wardrobe for one of the rooms, counter stools, and balcony furniture.”
Living together requires its own set of sacrifices, and these slight adjustments are necessary for co-living. Even when lifestyles clash, partners must discuss these things to avoid putting a strain on their finances later on.
New homeowners have had to see their utility bills hit unusually high amounts since the pandemic started. Working from home and having most activities limited to the confines of our homes, much of our lives revolve around the house.
Just ask Fiona, who recently switched to an Open Electricity Market (OEM) retailer when she started seeing sky-high electricity bills during ‘Circuit Breaker’.
Working from home and tending to a newborn, her aircon is seemingly switched on for good.
Making the switch to an OEM retailer can shave crucial dollars off your monthly bill. The savings could even make a fancy dinner a financial possibility.
Geneco and its many plans could see you save up to $407 over 2 years just on electricity bills.
With their widely popular Get It Fixed 24 plan, you can see yourself getting charged at a fixed rate of 21.50¢/kWh for 2 years instead of regulated tariffs that fluctuate every quarter that would usually cost you 25.02¢/kWh for Jul-Sep 2021.
The fixed rates will eliminate any worries about fluctuating prices in the electricity market. Since we’re in control of every household matter, take the opportunity to take charge of your electricity bills and make the switch today.
Switching allegiances is always a tricky process, but Geneco’s exemplary customer service ensures that the transition is seamless and hassle-free.
To celebrate Singapore’s birthday, Geneco is offering an exclusive $56 bill rebate in August to celebrate our nation’s 56th birthday. Just enter the promo code “SG56” when checking out on the Get It Fixed 24 plan.
To sweeten the deal a little more, use our referral code “MSN30” to enjoy an additional $30 bill rebate. You can also stack up to $80 savings with their ongoing credit card offers.
Geneco isn’t only powering our lives with electricity, but doing so in an eco-conscious way too. Introducing the Power Eco Add-on, Singapore’s first and only customisable green add-on for an electricity plan.
This add-on starts from a measly 40 cents more per month and you can help reduce up to 3,920kg of carbon dioxide — equivalent to the annual absorption by 192 rain trees.
For more details, check out Geneco’s website.
As these dreams often come with goals to achieve, the journey may be long and arduous.
Making that path smoother for ourselves will thus do us good, and it’s possible when we start with our monthly utility bills.
Having the right electricity plan, among other factors, can significantly reduce the time we spend mulling over our bills and allow us to focus on creating lifelong memories in our new homes.
Hopefully, after learning a thing or two from others who’ve been through it before, we’ll be able to prepare ourselves better for our journey to homeownership.
This post was brought to you in collaboration with Geneco.
Featured image by MS News.
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