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!

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

meaning i can spend about RM 2000++ on installments for the hse? Just saw a new condo in sj called olives..look very nice!

yes you can

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

Hope to hear from you soon wuwu.

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.

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

Hie I am below 25 =) Thanks for the advice.Will try to work something out

long term planning
good advice

wuwu.. tell us where and the location you wanna to buy ? worth ?

good advise...

beli 2 house, 1 own stay, 1 rent out

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

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

100% agree on this way ^^

Very good advise!

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

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Added on August 16, 2010, 7:31 pmMaybe 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

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.

wow respect, so young and capable
anyway, subang alot of choices. Ya stay near parents best!

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!!

It depends on personal preference.... my tenant so far no problem.. buy stock also will get sucky stock ..

It all depends on risk management...

Olives is seriously overprices for what is on offer. At your profile I'd buy somewhere like Putra Heights or Kemuning Utama where it's landed, freehold and appreciating well.

to clarify, 7k pre-tax, epf?

and do you mind old house? or only new launches?

i still learning about investment, u need to ask those sifu what book to read
however, dun invest into Mutual Fund/Unit trust or investment via insurance, insurance return is very low and long period, mutual fund/unit trust no matter u earn or not, u will need pay admin fees and dunno wat fees, at the end your return could be just merely 3-4% and summore not guarantee
and DO NOT invest without knowledge

however buy a property around subang jaya consider an investment liao

Yes, if basing on the profile profile given, IMHO , I would go for property in Putra Heights or Kemuning Utama where it's landed, freehold and appreciating well.

Well it's very impressive to obtain such income at young age.

May I offer my services on locating your dreams home?

Actually I'm an real estate negotiator and financial consultant.

Anything related in property and investment/loan is welcome to ask.

Please contact me at 012-9770788 or email choongkuangwing@gmail.com

Just wanna seek some advice from you'll. Well, i'm now 26 and planning to purchased a 310k condo and i'm earning 6k (after reduction). I have 10k saving, EPF and i pay monthly personal loan amount to 1k for 2 years, some Cc dept but always pay in time (more than the minimum i should pay) so is it safe to purchase the properties? Loan for 25 years which i estimate will be 1.6k monthly... i dont have car loan. and currently renting only.

This post has been edited by shinrei: Dec 7 2010, 06:18 PM