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> Newbie in buying property, RM 7000 take home pay buy what house? Household

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SUSwuwu
post Aug 12 2010, 09:40 PM, updated 14y ago

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Hie everyone,so actually I am earning around RM 7000 take home,was just wondering how much should I be spending on installments for house/condo and what kinda hse/condo i can afford in terms of pricing and all..

I dont really have much commitments at the moment.I am actually buying for own stay.Currently staying with parents but planning to buy a house in subang jaya so that i can move out.If can get a condo would be great!
Thanks for your help!
eugene jk
post Aug 12 2010, 09:45 PM

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i think buying 500k house shouldnt be too hard to get loan approve. Using the rule of thumb, installment can be around 1/3 of your salary. Some mortgage consultant might even can get you more than that.

This post has been edited by eugene jk: Aug 12 2010, 09:46 PM
SUSwuwu
post Aug 12 2010, 09:49 PM

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QUOTE(eugene jk @ Aug 12 2010, 09:45 PM)
i think buying 500k house shouldnt be too hard to get loan approve. Using the rule of thumb, installment can be around 1/3 of your salary. Some mortgage consultant might even can get you more than that.
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meaning i can spend about RM 2000++ on installments for the hse? Just saw a new condo in sj called olives..look very nice!
eugene jk
post Aug 12 2010, 09:50 PM

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Seremban_2
post Aug 12 2010, 10:27 PM

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7K is not a problem for getting at RM400K condomonium at mount kiara with all faciliites.

Hope to hear from you soon wuwu.
sonerin
post Aug 14 2010, 12:09 AM

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anything within 1/3 of your salary that also need to take into consideration of what other loan you have. Example car loan, study loan, etc.
jam_lennon
post Aug 14 2010, 11:05 AM

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if u're still <30 and just u and ur bf/husband (not planning to have 2/3 kids within next 5), better buy a medium or ok only house, prolly landed, leasehold (>80y) or freehold, take the reminder sum into investment, let ur money growth, wait for the market real damn good then re-sell it for a bigger house, still young, dun stuck urself into such big loan
SUSwuwu
post Aug 14 2010, 12:08 PM

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QUOTE(jam_lennon @ Aug 14 2010, 11:05 AM)
if u're still <30 and just u and ur bf/husband (not planning to have 2/3 kids within next 5), better buy a medium or ok only house, prolly landed, leasehold (>80y) or freehold, take the reminder sum into investment, let ur money growth, wait for the market real damn good then re-sell it for a bigger house, still young, dun stuck urself into such big loan
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Hie I am below 25 =) Thanks for the advice.Will try to work something out
jtleon
post Aug 14 2010, 12:23 PM

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QUOTE(jam_lennon @ Aug 14 2010, 11:05 AM)
better buy a medium or ok only house, prolly landed, leasehold (>80y) or freehold, take the reminder sum into investment, let ur money growth, wait for the market real damn good then re-sell it for a bigger house, still young, dun stuck urself into such big loan
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long term planning
good advice

cutealex
post Aug 14 2010, 12:35 PM

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wuwu.. tell us where and the location you wanna to buy ? worth ?
eugene jk
post Aug 14 2010, 02:57 PM

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QUOTE(jam_lennon @ Aug 14 2010, 11:05 AM)
if u're still <30 and just u and ur bf/husband (not planning to have 2/3 kids within next 5), better buy a medium or ok only house, prolly landed, leasehold (>80y) or freehold, take the reminder sum into investment, let ur money growth, wait for the market real damn good then re-sell it for a bigger house, still young, dun stuck urself into such big loan
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good advise...

beli 2 house, 1 own stay, 1 rent out wink.gif
jam_lennon
post Aug 16 2010, 12:02 PM

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QUOTE(wuwu @ Aug 14 2010, 12:08 PM)
Hie I am below 25 =) Thanks for the advice.Will try to work something out
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what job is that >.<" i oso wan

anyway, you should consider landed, 500k has a lot of choices (u still get from kepong/puchong/b.kinrara/usj) and better capital appreciation. this is not a really good advise as u might take up 400-450k loan, ur monthly repayment is like 2k, it is ngam ngam 1/3 of your nett income. it is quite dangerous
btw, perhaps u should do some research on pros and cons condo vs landed. in term of facilities/security/easy to access/better capital appreciates/easy to maintain/reno cost(this one kill most)/number of room and space
Joe wong
post Aug 16 2010, 01:05 PM

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QUOTE(wuwu @ Aug 14 2010, 12:08 PM)
Hie I am below 25 =) Thanks for the advice.Will try to work something out
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WOW.....respect!
if you don't mind, may i know what kind of job/business u doing?
many thanks

This post has been edited by Joe wong: Aug 16 2010, 01:06 PM
NYH_Aircond
post Aug 16 2010, 01:13 PM

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QUOTE(jam_lennon @ Aug 14 2010, 11:05 AM)
if u're still <30 and just u and ur bf/husband (not planning to have 2/3 kids within next 5), better buy a medium or ok only house, prolly landed, leasehold (>80y) or freehold, take the reminder sum into investment, let ur money growth, wait for the market real damn good then re-sell it for a bigger house, still young, dun stuck urself into such big loan
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100% agree on this way ^^
Seremban_2
post Aug 16 2010, 02:47 PM

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QUOTE(NYH_Aircond @ Aug 16 2010, 01:13 PM)
100% agree on this way ^^
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Very good advise! rclxms.gif
SUSwuwu
post Aug 16 2010, 07:29 PM

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QUOTE(cutealex @ Aug 14 2010, 12:35 PM)
wuwu.. tell us where and the location you wanna to buy ? worth ?
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Looking at subang jaya.Cause parents are here in subang too.So want to be close with them lor =)Cause recently drove pass empire there,and saw alot of activity there.Olives look very very nice.Maybe i should go enquire first biggrin.gif


Added on August 16, 2010, 7:31 pm
QUOTE(jam_lennon @ Aug 14 2010, 11:05 AM)
if u're still <30 and just u and ur bf/husband (not planning to have 2/3 kids within next 5), better buy a medium or ok only house, prolly landed, leasehold (>80y) or freehold, take the reminder sum into investment, let ur money growth, wait for the market real damn good then re-sell it for a bigger house, still young, dun stuck urself into such big loan
*
Maybe you can give some ideas on what to invest? Cause i seriously know nothing about investing.Only know that i want to stay in condo lah =)

This post has been edited by wuwu: Aug 16 2010, 07:31 PM
lIMlIM
post Aug 16 2010, 11:05 PM

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QUOTE(eugene jk @ Aug 14 2010, 02:57 PM)
good advise...

beli 2 house, 1 own stay, 1 rent out  wink.gif
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it is better to buy 1 house and stay. coz its quite troublesome if u have sucky tenant.

QUOTE
Maybe you can give some ideas on what to invest? Cause i seriously know nothing about investing.Only know that i want to stay in condo lah =)
since u are young and single, i suggest u invest parts of ur extra money in high risk investment like stock market or index etc. but 1st u must do some study.
mIssfROGY
post Aug 16 2010, 11:18 PM

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wow respect, so young and capable biggrin.gif
anyway, subang alot of choices. Ya stay near parents best!
kochin
post Aug 17 2010, 08:39 AM

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u can consider ara hill by sime or amaya by malton opposite ara damansara. still quite near to subang jaya but much better environment and facilities from the development. olives is a big no no IMHO.
just my 2 cents.

PS: i also want to know what you do for a living to take home RM7000 per month and still under 25!!
eugene jk
post Aug 17 2010, 09:56 AM

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QUOTE(lIMlIM @ Aug 16 2010, 11:05 PM)
it is better to buy 1 house and stay. coz its quite troublesome if u have sucky tenant.
since u are young and single, i suggest u invest parts of ur extra money in high risk investment like stock market or index etc. but 1st u must do some study.
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It depends on personal preference.... my tenant so far no problem.. buy stock also will get sucky stock wink.gif ..

It all depends on risk management...

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