Let us look at things this way:
Buy home at location near workplace, facilities: high price=can't buy. Conclusion: not an option at all.
Next, buy far from work, less facilities, affordable price, but the cons: longer travel time=less time at home, more on petrol and car maintenance. Is that ok? If you can't bear, yet you consider owning a home is advantageous for you and generations in future, then is there any more choice?
To answer this, some expert advise people to buy that home, say, in BSC, but rent near your work place (some can't afford as this is servicing a bank loan and paying rent. Your own home can be rented out too to offset some cost but certainly, rent value at far places is lower than what you need to pay in city where you work). An eg.:
Buy home in BSC and service bank loan at say, RM 2,500/month, rent a house for own stay in city at say, RM2,000/month. Total cost= RM4,500/month.
To cut cost, rent your BSC home to others at say, RM1,400/month. Net cost = RM4,500-RM1,400=RM3,100/month. Wow! That's a lot really. Now compare to just staying in BSC and travel far daily, well, sounds terrible, isn't it! Pay RM300 more for monthly petrol and toll and budget an extra car maintenance at RM 100/month ( vary with car condition) the total outlay is RM2,500+RM300+RM100=RM2,900/month.
Your own situation may differ but this is roughly the way to work it out.
Conclusion from above eg.: RM200/month cheaper to stay at BSC.
Regardless of whether you opt to rent or stay, after some months or years, when facility around your home improves and the value of your investment rises accordingly, then you can consider either selling it off for a profit and keep it to earn dividends/bank interest. As years go by, your earning power may also increase to lessen your financial outlay. Together with the profit from selling your landed property, your option will be: upgrade your borrowing power to buy a better home.👍Or, keep all that money and downgrade to renting from others. There are people who choose to rent house for their stay 'forever' and enjoy higher cash liquidity. This is good for emergency and old age. No law says that one MUST have your own home afterall. Wise, right? Home ownership has more or less reached a costly stage to arrive at this point.
However, continous renting for your stay has its own setback. The longer you rent a place, the more repair you have to foot. Rent agreement does not allow one to put off house repair. So before things get worn out, that may mean you need to move and look for another place to rent all over again but finding a suitable place sometimes may need time and that is when you face inconvenience.
This is the way I look at this. What about you?
Good agruement bro supreme =) I am agree with u.
Life is about choice. We cant have all that we want.