I, 32, work as an office employee in Ho Chi Minh City. A few months ago, my father called me back to our hometown and had a serious talk about dividing family assets. He gave me VND2 billion (US$76,700) as an early inheritance to help me settle down. I am grateful for the money, knowing my parents saved it over a lifetime.
But when I said I was not in a hurry to buy a home, my father got angry. In his view, a man in his 30s must have his own house to be considered decent. He had expected me to borrow another VND2 billion to buy an apartment in downtown HCMC to make my commuting to work more convenient.
“If you do not seize such a good opportunity, housing prices will only rise further. Who knows when you will be able to afford one later?” he said.
I understand his intention as it is very hard to find any apartment in central HCMC priced below VND4 billion. But following his plan would mean paying a very large sum each month for the next 15–20 years. So I refused, because I do not want to be drowned in debt.
For me, it is only acceptable to borrow up to 20–30% of a home’s value as any more than that puts me in a very risky position. Life does not always go according to plans.
Jobs are unstable amid the current economy. Not to mention unexpected market fluctuations or illnesses. Any setback could turn a VND2 billion loan into a massive weight. At that point, the house would no longer be an asset but a shackle tying me down.
My father scolded me, saying I “do not know how to think ahead.” But I never want to abuse myself just to own a house. Renting still gives me a comfortable place to live and the flexibility to adjust based on my income. That freedom means a lot to me.
I like investing, experiencing new things and taking calculated risks. If I pour all my resources and mental energy into a long-term debt, I will be forced to always play safe and not dare to expand or invest in new opportunities.
I once told my father that if my career goes well, I could buy one or even several homes without having to rely on large loans. And if I fail, at least I will not be crushed by a huge debt.
I understand that buying a house is the top priority for those from his generation. But for me, it is just one milestone among many. Prioritizing homeownership suits those who want stability and dislike risk while I prefer to put my career first.
My father still worries that I will rent indefinitely and eventually squander the inheritance.
However, I believe the important thing is not whether I rent or own, but how I choose to live and maintain control of my life.
*This opinion was submitted by a reader. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.
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