Part 3/8:

Before diving into the housing market, it's essential to clarify why you want to buy a home. Common reasons include:

• Family or spouse considerations

• Desire for personal space or privacy

• Financial independence from parents

• Mental health and wellbeing

Understanding your motivations helps determine the right timing and type of property. For instance, if your goal is to move out to improve mental health, planning and saving towards that goal makes sense.

Affordability and Planning: The Reverse Approach

Experts recommend a strategy called reverse affordability, where you start with your target property and work backward to determine what you need to save and earn. For example, if you aim to purchase a $900,000 resale flat, you would calculate: