Forum: Don’t worry so much about passing flat on to children
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As I watched the parliamentary debates on making Build-To-Order (BTO) flats more affordable, I could not help but wonder if life in Singapore is all based on material or bread-and-butter issues.
Everything revolves around the HDB flat, which seems to dominate our entire lives. What brings couples together in the first place? What about love? If relationships are founded on material issues, how secure are they to begin with?
Couples worry about where their children attend primary school, and try to secure units close to “branded” schools. Further down the road, they worry about having enough for retirement amid lease decay of their most prized asset, their flats. Many harbour hopes of passing their flats on to their children when they die.
To try and fight the decay of flat values along with their lease is like wishing wear and tear does not happen. To expect all ageing flats to be selected for the Selective En bloc Redevelopment Scheme so that we can enjoy new flats on fresh 99-year leases is wishful thinking.
Our children will lead their own lives, with their own flats. So, let us not worry too much about bequeathing flats to them.
Stripped bare, our homes are just shelters from the elements. Let us not get so obsessed with something so basic. What’s more important is what happens within the bricks and mortar that creates fond memories for our children and, perhaps, grandchildren.
Lee Teck Chuan
