meaning continue renting? or stay with parents? till when?

also... loan approval is not easy like how you describe... banks won't simply borrow money any amount you request for... gold diggers are not dambasses...

i suppork expanding your means, not live within it...

i come from a family with a mentality, commitment is bad... don't buy with loans... we have only one house and that house is refinanced so many times that its a never ending painful paying process like you mentioned...
that's why you should invest in more than one... i've seen all those and i'm changing it... i'm not going to follow my parent's financial mistake no matter how much they dislike and object...

Half of it yes. The remainder probably get parent to support a bit.

simple, work for the money dont put down money because someone else it putting down on it. the logic was never not to dont buy a house, but buy only when needed and can afford. if you got 1m in the banka nd want to buy a RM500k hosue sure

trust me, mortgage loan is damn easy process time probably 1 week i dont expect more. once your income match, can pay fee and the housing price ok. banks will approve and they are not dumbasses, your loan is pledged by a security which is your house. you wont own the house untill full settlement of the loan, this can be a touchy area that most people dont understand.

well no, those cases of high gearing mentality ala robert whatever guy is a sure fine way for disaster. you will get the short time, but unless you live only 10 years, then yea.

who doesn't need a house? buying cash is the perfect idea... why not if you can do it right?
not sure how long you have been working but after 8 years as an employee, my personal savings (exclude EPF) never reached RM50k...
not going to be ambitious of having 1mil savings... i'll half it, RM500k, you do the math how long and painfully you need to save...
to make things better, by the time you save that amount, you can no longer afford that house in that location... you'd be lucky to get a pigeon hole somewhere else further away

from personal experience... after doing some basic affordability calculation, if you think you can, you can...
the longer you wait, the worse it becomes... a house for own stay, it will be good if you can get it at a reasonable price... if not, you still have to buy, no? or continue renting?

looking back... my greatest regret is doing too much calculation a few years back and missed so many opportunities

This post has been edited by kenji1903: Aug 18 2012, 06:54 PM

RM2k

its not about buying vs renting, they both have their perks.

when im saying is that, you dont over gear yourself to buy something. sure you wont save enough to get probably a house, but then someone with 4k buying a few houses is not entirely right either.

that one of course lar, its call pushing your luck

but with 4k, your loan won't get approved... unless you have the balls to buy a few undercon in a single shot

TS is buying a first house mar?

Yeah first house.

you yourself will know how much you are willing to part your salary with

sacrifice has to be made but not up till the extent of having maggi or bread/water...
health, food, etc must continue... things like gadgets, outings, makan at expensive places, amusement, etc, depends how much you are willing to forgo

good luck

not more than 40%.... maybe 30% of income liddat... then 20% goes to car....
Then 50% sendiri makan, saving, hope to buka own business

u berani ke bro loan rumah lama-lama? if u gomen servant its ok.but if u Private company ..i dont think thats a good idea.

i see alot of ppl lives on apartment less then 200k ...buy what u need ...who doesnt want big house ? but average landed oredi over 500k and most take 30-35yrs loan...liveable or not is up to your own preference ....

why you say so ? hmm, mind to share / explain abit about your comment so we can learn somthing new ?

got 1m only can consider buying 500k house?
Seriously?
Assume that ur an average msian taking average salary here
when uu gonna save up to 1m? imagine how old are uu, imagine hw much property price will hike

its an extreme example, but also if you overspend or overgear shit can be bad also.

note that houses are not liquid, sure you own a house at the end of the day (at like 50 years old for most youth). but the critical assumption people make is pay will increase or cost of living will maintain. so if you cap your pay at RM5k then you watch inflation eat up everything, what you going to do? complain?

this is the exact problem faced by many malaysians now, when there is a economic shock you can watch their cash flow and dream houses go up in smoke.

the idea is not that you dont buy a house, but not to overgear youself which i find it strangely popular in a once financially conservative nation. i do my math and i seriously dont understand how someone can afford houses today, RM4-5k want to buy a RM400k property liao.



This post has been edited by +3kk!: Aug 22 2012, 08:18 AM

why? taking 40 years loan does not mean you pay exactly 40 years...
you can pay the 2.4k and finish up the loan in 20 years... its all up to how much you want to pay

bro.u pay the installment in A MONTH not in YEARS.but bank give time tenure loan IN YEARS not in MONTH. 20 years meaning 240 Month..in 240 month tu anything can happend...if u goverment servant MBSB can give u loan up to 25 years with interest low gila...just give slip gaji+ic. 2 weeks approved. ...hutang rumah tak habis.boleh buat hutang kredit kad.

i am ok with RM 1000 per month but i am not ok with 20 years tenure loan...reason? just like i post before.

eh guys.kalau kes projek beli rumah tak siap tapi duit installment dah bayar kat bank then how?



This post has been edited by K.I.T.T: Aug 22 2012, 03:03 PM

bro, i shortcut a bit cos thought you understood since that guy said that he's paying 1.7k/month for 40 years, so you can pay 2.4k(/month) for 20 years, same effect...

cos definitely your loan application will get rejected if you apply for 20 years with a low salary... some more people nowadays have credit card debt...

what i'm trying to convey is you can take a long loan but don't take a long time to repay... you got increment, dump in more, you can bonus, you put more in... then you can get out of debt earlier... housing loan is not a car loan where the interest is calculated and charged upfront...

my dad has this interesting thinking... want to buy house, don't take loan, buy cash...
he's not wrong... just that houses don't cost 20k like 20 years ago...

MBSB... by giving gahmen servants low rates, they charge the public faqing high rates to cover up...

once you owe the bank, you owe the bank despite the project gets abandoned... this depends on how good your research is...

This post has been edited by kenji1903: Aug 22 2012, 03:19 PM

u punya father tu betul la.beli cash.nanti dah meninggal dunia anak beranak tak pening kepala tanggung hutang u punya bapa tak mahu anak-anak dia hidup susah fikir pasal hutang......itu style orang dulu dulu fikir..tak mahu hutang...tapi sekarng rumah secondhand pun nak RM 300k ....nak loan pun ambil 20 tahun baru habis bayar..lagi nak bayar cash?

macam exbos aku.beli lot kedai tahun 1996.masa tu harga jualan cuma RM 98k sahaja.kedai takde la besar.800 kaki persegi.dia bayar per month RM 2500.passtu only pay in 5 years (60-Month only).

Negara Malaysia kearah Kapitalis...lu kaya lu boleh beli rumah beli kereta.itu duit haram ka.halal ka belakang kira.bank mau tengok lu bayar TAX atau tidak....lu bayar TAX gomen tarak kacau.bank layan lu baik baik...tapi lu bumiputera/lu muslim/lu-nonbumi lu bayar tax sikit...lagi takde bayar TAX lagi mau kerajaan subsidi kuat kuat lu sila duduk belakang.sini tempat tiada utk lu orang.

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Added on August 22, 2012, 3:36 pmmeaning? aku selalu perhati banyak projek terbengkalai kebelakangan ni.kadang kadang tu 8 tahun rumah tak siap.tapi duit dah bayar kat bank..bagi alasan pemaju gulung tikar..syarikat dah bungkus......tapi bank dah bayar pada pemaju harga rumah...

This post has been edited by K.I.T.T: Aug 22 2012, 03:36 PM

why children will tanggung hutang? this will only happen for those who have no proper financial planning... passing down debt to the ext generation...

meaning you still pay the bank despite having a halfcooked house