Hi all

For a person who not able to save up or come up with a downpayment (of at least 10% right) as bank only give Housing loan 90%

What other ways to be able to buy a house then???

Recently government launched those household below 3k income and buy first house no need downpayment can 100% bank loan, BUT subject to 220k house price n below...Lets face reality, its so tough to get house 220k n below unless outskirts area (maybe Rawang or Meru)..

Mind to share your experiences and advice...?

Thanks

U need to be realistic. No money = dont buy

i agree. i think the idea of buying a house without money is frankly said dumb. you just dont have the financial means for it so wait and save.

on a sidenote: gov should reduce max loan to 70% across board. that way ppl will not be suckered into a debt-track so easily.

EPF account2
alternative... start saving

if you cant even save up for downpayment
what makes you to have the ability to pay the installment?

wait 1-2yrs first, save up

Agree.

Legal fees and stamp duty need to include.

''U need to be realistic. No money = dont buy '' -->true

At this moment, a house price on average is around 300k or 400k.
10% is abt 30k or 40k...plus legal fees,S&P,etc..need 50k
so wow..an average earner earning say 3k/month...by hook or crook save 1k per month..wah, 1 yr save 12k..4yrs +

*faints*..
I see people nowadays..age 24..age 26..purchasing house..at locations such as Damansara..Sunway..prices are like 1/2 MIL!

yoki ...1-2yrs? think no enough time..monthly installment depends lor..if around 1.5k..by 2yrs time (prays hard for increment n promotion or job change) can able to...BIGGEST issue is downpayment

Any possibility to purchase house without need downpayment?

HAHA

Big mistake in youths these days,

they ASSUME they will get promoted and raise in the near future.

TS, don't look at other youths and see their ability to buy in prime area, you also wanted to follow them. Different youths different case. I bet only a few % are truly HONEST and/or frugal high earners at their early twenties. Many should have "backup" by their parents.

btw, its useless to scrape high and low to bypass downpayment and get 100% loan. If the house is completed, $$$ has to be spent for renovation too. What's the plan by that time? magnum or toto?

yeah, no money = no buy...

btw, try scouting for DIBS based projects. a friend of mine pay only 1% and nothing else... (early bird package)

Another solution
-> if you're single, get married first so that you can combine epf to pay
for downpayment.

find a rich gal who own a hse.
save all ur problem

look for discounts and early bird prices for launches. Some launches allows 100% loan depending on how they price the units.

ermm......property really so cheap ke?? when i went to a new launching & met one fren, chit-chat then know that he looking for 2nd property after he bought 1st property at damansara perdana......

Sometimes life is truely unpredictable, a friend of mine found a girl, yeah, they like each other, the girl is quite well-to-do, then when the though come up about settling down, the parents on the girl's side is sending her off to a western country for some work.

So how ? Rich ones don't stay in this country for long, or perhaps must find the rich ones who do stay in this country, is it ?

it's true that if u don't have enough capital, u can't buy.

young people that bought expensive houses is either living beyond their means or parents help them out. only the lucky few are high earners.

in most cases, u need to have downpayment for buying houses. those new houses that says free SPA, loan agreement fees or what ever it is, most of the time the developer doesn't have confidence in selling the house fast. those hot areas usually offers u nothing and you need to queue up to buy it.

if u really want to buy a house very soon and only limited money for downpayment, u don't have much choices but to go for those which are not so good in location.

sorry, pal... that the way how the world works.

I agreed with most of the replies here, nowadays alot of youngers buy house w/o a deep thought... u must think twice b4 get urself committed to a property which may "follow" u for the next 30~40 years...

Dun compare urself with others which have backup from parents, I believe that their parents cant even take care of them after 10 years w/o educate their children in a proper way

If u really need a house for own stay, please go to buy the 1st hand house direct from developer, discuss with them u wanna opt for 100% loan, they will guide u accordingly

Why everyone keep discouraging those youngster to purchase the house ? and what does it has anything to do with pooor educated by their parents etc ?? Stop ruined their dream ...

i don't think forummers here are discouraging young peeps to buy properties. they are just cautioning the risk of buying properties as there are chances that the it is a losing investment. if they are able to handle it, by all means go ahead.

yes...totally agreed with WWJD kor......
if everybody huha huha & nobody cautioning, one day if really bubble burst, who kena burn?
sometime got +ve & -ve, the life only will balance....

st127

there is no hard and fast rules to acquire properties

save up first, when you have $$$, it is always easier to pick up good deals

even if you want to buy a new property, if you dun have $$$, how to pay, loan agreement lawyers fees, MOT (i discourage to finance these small fees)

if you wait 1-2 yrs, your epf balance would grow, and if you manage to find a wife, combine the income + cpf, surely you'll be able to get our dream house

dun rush for it, and buy anything just for the sake of owning of property