Forum: Don’t worry so much about passing flat on to children

As I watched the parliamentary debates on making Build-To-Order (BTO) flats 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 the foundation of relationships is based on the material, how secure are these relationships in the first place?

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 securing retirement funding 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 because of a dwindling 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. Our children will have their own flats. So, let us not worry too much about bequeathing our flats to them.

Stripped bare, our homes are just shelters that shield us from the elements. Let us not get so obsessed with something so basic and be consumed by it. 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

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