Single mum has a home to call her own after 8 years in rental flat & More Trending News

 

SINGAPORE – While residing in a public rental flat following her divorce, Madam Zaidah Ismail labored lengthy hours as a safety guard to construct up her Central Provident Fund (CPF) financial savings in order that she might purchase a home.

In 2019, she was in a position to purchase and transfer into a two-room Housing Board flexi flat in Punggol at a extra inexpensive worth below the Fresh Start Housing Scheme. This was launched in 2016 to give rental households that had beforehand purchased a subsidised flat the choice to purchase their second HDB flat on a shorter lease.

“I was having quite a hard time after my divorce, as I was also diagnosed with breast cancer. I didn’t have enough CPF savings to buy my own home, so for almost 10 years I worked 12 hours a day, sometimes even on weekends and public holidays,” mentioned Madam Zaidah.

The 57-year-old is now a freelance therapeutic massage therapist and lives with her son, 20, who’s a scholar. She has two older youngsters aged 32 and 33.

“When I was told about Fresh Start in 2018, I jumped at the opportunity,” mentioned Madam Zaidah, who opted for a 60-year lease. The flat price about $141,000, together with the resale levy, and she or he obtained $44,000 in grants.

(*8*) added Madam Zaidah, who managed to pay the acquisition worth in full.

Minister of State for National Development Muhammad Faishal Ibrahim mentioned the HDB’s home possession help group was arrange in 2019 to present extra devoted help for households like Madam Zaidah’s.

The group guides rental households by means of the method of home possession – from planning their buy until they accumulate their keys – whereas contemplating elements resembling household and monetary stability.

“When I meet those who have purchased a flat, there is a sense of achievement and happiness… Our aim is to help families living in public rental flats achieve home ownership and inter-generational mobility, so their children can move up the social ladder,” mentioned Dr Faishal.

As at December 2022, the group had reached out to about 1,400 rental households.

Dr Faishal mentioned some tenants might face problem in shopping for a home as they don’t have ample funds in their CPF Ordinary Account – this can be as a result of they’ve freelance jobs, as an example. “This is where the Community Link programme comes in, where we can share options for alternative employment with CPF contributions to introduce more stability and opportunities for home ownership.”

Madam Zaidah mentioned having her own home was all the time the plan, as her rental flat was cramped and never conducive for her youngsters.

“Now, I can have more built-ins, like a TV console and kitchen cabinets. And my children will have a place to live if anything happens to me,” she added.

Single mum has a home to call her own after 8 years in rental flat

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Single mum has a home to call her own after 8 years in rental flat

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Single mum has a home to call her own after 8 years in rental flat

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