Buying her first home solo: A young professional's one-bedroom haven in Joo Chiat
Audrey is thankful for her "very supportive" family and helpful agents who guided her and made the process far less overwhelming. (Photos: Samuel Isaac Chua / EdgeProp Singapore)
A compact white-and-pink claw machine sits by the TV, its acrylic case housing plush toys and arcade prizes waiting to be won. On the industrial-style concrete dining table, handmade Lego flowers and crochet blooms add cheerful pops of colour.
Shelves in the living room hold carefully curated collections: anime figurines, hand-painted fantasy miniatures including dragons and monsters in intricate detail, DIY book nooks recreating tiny detailed street scenes, and glow-in-the-dark Smiski figures next to assorted knick knacks. Macramé hangings soften the walls. Through the glass doors, the balcony beckons with its green artificial turf, pink yoga mat, pink dumbbells and a small bonsai plant.
This is the one-bedroom private apartment in Joo Chiat that Audrey (her name has been changed at her request to protect her privacy) calls home — more than 600 sq ft of space she has made completely her own.
The communications professional bought the freehold resale unit on her own a few years ago when she was in her 20s, for less than $800,000. Every corner now reflects her personality and interests.
Audrey's collectibles, including Smiski toy creatures and a Lego Minifigure of her, on display near her handbags and rose quartz beauty face-rollers.
Seeking relief from a crowded home
It was her first property purchase, and the pandemic had prompted the search.
Growing up in a big family with several siblings, their three-bedroom condo in Siglap had never felt quite spacious enough. “It got a little bit cramped sometimes, and I always wanted to be able to destress and work peacefully,” she tells EdgeProp Singapore.
The pandemic intensified that feeling and became a major push factor for Audrey to start searching for her own home. “When Covid hit, everyone was working from home. I realised, wow, I really needed my own space,” she recalls.
She considered renting then, but ownership made more sense if she could afford it. Besides, her older brother had recently bought his own place and moved out. “I was very inspired by that,” she adds.
Audrey had also gotten a taste of independence years ago as an undergraduate. She studied abroad and lived in the campus dormitory, sharing a small room while juggling her finances, buying groceries, cooking simple meals, and learning to cope with daily life in a foreign country.
That experience helped her build confidence that she could manage living on her own, which made it less daunting to embark on her property journey.
Audrey enjoys the view from her balcony, which overlooks some greenery and well-maintained, low-rise buildings.
Exit strategies and rental yields
From the start, Audrey was certain that this first purchase would not be her forever home, but the right home for her current life-stage.
The one-bedroom unit would be too small once she got married and had children. She plans to upsize to a bigger apartment eventually.
Therefore, throughout her search, she was conscious of the property’s potential resale value. She compared the recent resale prices of similar properties in the vicinity, as well as price and volume trends over the years.
The potential rental income also mattered to Audrey as a fallback option. “If anything happens to me, for example if I get retrenched, maybe I can move back in with my parents and rent this place out to continue covering the mortgage,” she says.
As a result, she also delved into data on rental rates and yields at the development and nearby condos. Based on the latest rental deals, her apartment’s potential monthly rental income can easily exceed her current mortgage repayments, which gives her peace of mind.
“I want to enjoy living in the apartment because it’s for my own stay for now, but I also want to make sure it will be a good investment,” Audrey shares.
Anime figurines on display in her home. Audrey is “very proud of” the purchase of her first home, which marked a huge turning point in her life.
Moving past financial worries
The financial commitment weighed on her mind during the search. She says: “I was very worried because it’s a lot of money to put into the downpayment and mortgage. What happens if I lose my job?”
Taking on significant debt in her 20s felt like stepping into a whole other level of adult responsibility — one she was not entirely sure she was ready for.
Her family’s insights and guidance played the biggest role in helping her move past those doubts, and Audrey readily acknowledges how fortunate she is.
“I’m privileged to have a very supportive network. Thank goodness for my parents, who are very experienced with real estate,” she says. Audrey’s parents, as seasoned property investors, had taught the children about financial planning from a young age. Her older brother also shared insights from his purchase.
From them, she learnt how to navigate the financial and practical aspects of homebuying, such as comparing mortgage interest rates, evaluating financing options, submitting paperwork, scrutinising contracts, understanding the legal process in transactions, and watching out for red flags.
“There are many people I can learn from, and I’m also very close to my brothers. I know that if things really go wrong, I can count on them,” she adds.
That safety net of knowledge and guidance made the process feel far less overwhelming. She could ask questions, seek advice and learn from their experiences.
The lap pool at the freehold development in Joo Chiat. Audrey likes the peace and quiet within the development and the immediate neighbourhood.
Tapping all available resources
Audrey recognises that not everyone enters the property market with the same resources, and first-time buyers may find the journey more challenging without such help and support.
She recommends turning to other sources of information as well.
Agents, for instance, proved helpful in her search. She credits real estate salespeople with explaining other technical aspects of the buying process — such as understanding what the option to purchase involves, as well as navigating transaction timelines and financing procedures like getting an in-principle approval for a bank loan.
“Speaking to agents can be very helpful, especially for first-time buyers starting from scratch,” she says. “While I can find listings and transaction data myself, there are still parts about the process that are useful to hear from a professional with a lot of experience, so I value all those conversations.”
She encourages other buyers to get as much advice and talk to as many people as possible, and not be afraid of leaning on their support networks if available. After all, buying property is a major commitment.
The knowledge gap can feel intimidating, but family, friends, agents and other consultants can often fill in crucial information.
“And if you have friends who have bought their own properties, just ask them questions. Go in and have a look around if they’re fine with it,” she suggests.
Fantasy miniatures painted by Audrey. She put "a lot of heart" into creating her own cosy, personal sanctuary.
Setting a realistic budget
To calculate what she could afford, Audrey considered her savings, CPF Ordinary Account (OA) balance, monthly income from work and monthly expenditure. She thought carefully about the lifestyle she wanted to maintain after taking on a mortgage, as well as how much cash to keep on hand for other investments and to build up her emergency fund.
While she has never led a lavish lifestyle and rarely splurges, she still intended to live comfortably and go for social activities without being stretched too thin financially. “I didn’t want to have to eat cai fan (economic rice) for every meal for the rest of my life,” Audrey points out.
Her initial budget was around $700,000. After combing through countless listings and viewing about 15 properties, she better understood what was available within her criteria: located in the east, freehold tenure, spacious, an efficient layout, and a decent condition that would not require much renovation.
Her upper limit thus shifted upwards slightly as the search progressed. By the time she found the right unit, she was willing to go closer towards $800,000, which was still within her means.
For financing, she took out the maximum bank loan available and tapped her CPF OA balance fully. She preserved her cash savings for emergencies and to pursue investment opportunities such as index funds to diversify her portfolio.
“I think having cash on hand is powerful because I can use it for other investments,” Audrey notes.
The open-plan living area features Audrey’s personal touches: a functioning claw machine, Pac-Man mini arcade, Lord of the Rings posters, and a Lego bouquet.
A space of her own
Once Audrey had the keys, she set about making the space distinctly hers.
She furnished and decorated it gradually, indulging in hobbies like painting miniatures, assembling DIY crafts and gathering trinkets that brought her joy. She installed zip-track blinds, artificial turf for the balcony and other custom home fixtures.
“I put a lot of heart and effort into making this my own over the past few years,” Audrey says.
She also feels an especially strong emotional attachment to the apartment, with it being her first property. Although she can already afford a bigger space today and plans to buy a larger home when she starts a family, she has been dreading the move.
“I’d really hate to part with this place! Now I can’t even upgrade because I love it too much,” she says.
Moreover, owning this apartment has brought her a certain sense of security in knowing she has a place that is entirely hers and a personal sanctuary she can go back to after a bad day.
Managing the property alone also meant learning to handle things she had never dealt with before. Arranging for repairs when appliances and fixtures broke down, keeping track of maintenance fees, setting up recurring bill payments and sorting out fire insurance — these were tasks she did not have to think much about while living with her family.
“I had to figure out everything on my own and finally be a responsible adult, so that was very stressful for the first few months,” Audrey says. The adjustment took time, but it taught her practical skills to become self-reliant, made her push through her fears, and built her confidence in managing everyday responsibilities.
Looking back, she sees how much she has grown through the experience. She describes the homebuying journey as a huge turning point in her life — a source of pride and a catalyst for personal growth.
“It’s the best thing I’ve done in my life so far,” she says.
Property Diaries is a new series that goes behind the scenes of real estate transactions, featuring homebuyers and investors sharing their search journeys, decisions and lessons learnt.
Have a story to share? Write to us at propertyeditor@edgeprop.sg.
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