this is informative. just wanna share stuff that crossed my mind:

1. if this is your first property, u'll be guaranteed a ceiling BLR at around 9% (if i'm correct) just in case it shots up to 11% like last time.

2. panel bank is nth la. non panel bank will also works fine. just that u need to follow up closely. some people will reacts unprofessionally when u do no subscribe to panel thingy. but, nth major will happen. maybe just delays.

3. southern bank is offering BLR-0.8% for whole loan tenure. that means interest rate of 5.7% for da moment.

4. dun worry about increment of BLR in da future. surely ur salary has been higher then and u'll be able to afford prepayments to lower down the monthly payments (this will not be that hard compared to first few years when the loan amount is damn huge).

5. i hate hong leong because that's the only bank i cant get approval. they wanted joint applicants but my gf cant be accepted plainly coz we are not married! dun i have the choice of who to nominate as joint borrower?

go get ur house. u'll live to love it. ohh, btw, the renovation and furniture will definitely more than 10K that u mentioned. 30K may the minimum.

good luck!

167K -> 15 years ago , 330K now.  Lets assume it is  a double and the price is 167 * 2  = 334k

Using rule of 72, the annual rate is  72/15 ~ 4.8% per year

Using Excel spreadsheet, the return is 4.75%

So, this is a return of 4.75% per year.  Is this good??

Please noted that I have not factored in the interest that you parent lost to the bank for the housing loan.  If you take this into account, the return is not even FD rate. How about the money that your parent sunk in for renovation?

In general and over the long run, the housing price is only going up as much as the GDP rate.  This is common sense.  The price of the house can only goes up if people can afford to buy it.

Buy a house to live is not an INVESTMENT.  90% of the time, you will lose money when you sell your primary residence.  It may serves as a good inflation hedge.  You do it because you want to live in that area.  And, there is nothing wrong with that.  But, do not kid yourself that it is an investment.

Dreamer