SINGAPORE: In a heartfelt confession on social media, a 40-year-old single man revealed his growing regret over buying a resale HDB flat for S$1.1 million. Posting on the r/askSingapore subreddit, he candidly expressed his concerns just weeks before taking possession of his new home.

“I had just completed the purchase, and a wave of remorse has washed over me since signing at the HDB Hub,” the man shared. Despite being a salaried employee who had hoped for a fresh start in his new home, he’s now engulfed in uncertainty about whether he made a sound financial decision.

As the December holiday season approaches—typically a time when he budgets around S$10,000 for festive shopping—the man is now feeling the pinch. The fear of potentially overspending on this property has cast a shadow over his traditional holiday cheer. Is he experiencing mere buyer’s remorse, or has he made an irreversible mistake?

In the comments section, supportive Reddit users chimed in, normalizing his feelings. One suggested, “Remember, an HDB is still an asset, albeit one that can depreciate. Just be careful with renovations and any further expenses.” Another offered a more philosophical take, advising him to “enjoy life” while he can, as material possessions can't be taken to the afterlife.

However, not all feedback was comforting. Some voices pointed out the staggering price he paid, raising doubts about the wisdom of his purchase. “1.1M? You're part of the problem—how can we keep raising prices higher?” questioned one commenter. Another cautioned, “Shouldering that cost alone is not a prudent decision.”

To alleviate his financial strain, several users suggested practical measures, such as renting out spare rooms to help cover mortgage payments. This could be a viable route, considering the current landscape of rising property prices and the booming rental market in Singapore.

In a broader context, the trend of skyrocketing resale HDB flat prices is evident. According to recent reports from The Straits Times, a total of 328 resale flats sold for over a million dollars in Q3 2024 alone, surpassing the previous year’s overall figures. Christine Sun, chief researcher at OrangeTee Group, highlighted that this surge brings the total number of million-dollar deals to 747 for the first three quarters of 2024—setting a new record and raising questions about the long-term sustainability of such prices.

As this man navigates his emotional turmoil, he symbolizes a growing concern among many first-time buyers facing the overwhelming pressure of high property prices in Singapore. Will he find peace in his decision, or will the regret linger as he adjusts to homeownership? Only time will tell.