Redditer: Continue renting in Singapore or buy a house - As a Malaysian SPR

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Continue renting in Singapore or buy a house - As a Malaysian PR​

General

Guys, I’m having a dilemma right now and would like some advice from fellow Malaysians working in Singapore.

My wife and I are both Malaysian PRs in our early 30s. We’ve been renting a whole HDB unit together with friends for the past few years since moving to Singapore for work. The unit is near CBD, very convenient for work, and total rent is around SGD4.5k/month. We’re taking the master bedroom, so our share is about SGD2k/month.

Overall, renting has been smooth. Every 1–2 years we may need to move due to rental hikes or housemates going back to Malaysia, but honestly we’ve adapted to it already. The only downside is sometimes there’s a lack of personal space and stability.

Now after working in Singapore for around 4–5 years, I’m starting to wonder whether buying a resale HDB makes sense for us financially and lifestyle-wise. Since both of us are PR Malaysians, our realistic option is only resale HDB. Condo prices are way beyond what we’re comfortable with. Daily JB-SG travel is also not practical because both our jobs have very limited WFH.

At the same time, becoming Singapore citizens is currently not in our plans. I don’t want my wife to convert citizenship just because we want to buy a house. Deep down, we still feel Malaysia is probably where we want to settle down long term. Even if we have kids in the future, we think raising them in Malaysia may make more sense financially and lifestyle-wise. We’d rather travel back more often to visit family for now.

Financially, i think both of us will be able to afford, since our combined household income exceeds SGD13k as of today. So this is where I’m conflicted:
* Continue renting and enjoy the flexibility/freedom?
* Or buy a resale HDB and build some equity instead of “burning” SGD2k rent every month?

Honestly, although rent money is gone forever, I do appreciate the mental freedom that comes with renting. It feels easier to leave Singapore anytime, take a career break, or move back to Malaysia without feeling tied down. Would really appreciate hearing from Malaysians who faced a similar decision:

* Did you buy in Singapore or continue renting?
* Any regrets?
* From a financial and lifestyle perspective, what made more sense for you?

Thanks guys.