The Mortgage

Yep, for folks who didn't know, I bought an apartment last week. Well, 'to buy' would be a big word, I should safely say that I started the purchasing process of acquiring a HDB flat.

It's a tiny space in Cantonment, right in front of the Southpoint office building, 60sqm, for about S$ 35k cash over valuation. It's low floor (5th), but it faces an open breezy green space. What made the deal was definitely the location. Just minutes from CBD, literary, so the rental income will be interesting, plus the previous owner did a good job with the renovation. And in relatively good taste. So, I just need to add furniture.

I never thought this day would come. I could see myself buying a small studio in downtown Paris more than I can imagine doing so in Singapore. I guess my priorities have changed, and I really need to put (at least!) one foot down somewhere. My parents have been nagging me to get a place ASAP, now that I made the legal age for buying a resale flat. The previous place they showed me was awful, it's near an MRT station, sure, but there was so much to do for reno. And the property agent was playing poker with me, asking for too high a price.

So now I'm saddled with a debt, a 30 yr loan, I'll be working just to pay off the mortgage, quite literary, with the kind of pay I'm getting these days. Some days, yes, I regret losing that type of income. I could have gotten a better location, a bigger place, maybe a condo, or a landed, or at least a 999, and with savings to still plan an overseas trip each year. I think that last trip to Florence in November was my last for a good number of years to come.

From too much time on hand and (relatively) higher income in a corporate job, to today, a low income and no time on my hands; it's swinging from one extreme to another. Have I seen that coming? Yes and no. I know the starting pay will be low, and hours long. I also know the pay will start climbing once experience builds up over maybe 5 yrs. I think I can overcome that. But what I couldn't overcome was that I didn't know some people behave like jerks in the kitchen, and the monotonous, repetitive work did dampen my spirits somewhat.

Come this new working day of the year 2011, I will be embarking on a slightly different course. A hybrid type of chef job, that allows me to spend some time in the kitchen in tuning recipes, and some time doing part corporate job of sourcing, and organising promotions. I reckon that will expose me to the front of the house, and this experience will be useful if I intend to pursue a food consulting job in future, or even when I've my own place.

My ideal is still be become my own boss. What's stopping me is the entrepreneur leap of faith, and the capital. I need to get some major positive cashflow soon.

Happy New Year, everyone! May Lady Luck smile upon you in 2011.