actually just out of curiousity, anybody regretted their first property purchase here?

and those who are renting, any regrets with your decision for the past few years of renting?

better than "Loss" which is considered expenses.

Paying monthly RM2000 rental / Paying monthly RM2500 installment.

which would you choose?

if 2500 for a mid cost condo and 2000 for a gated landed terrace. I might go for rent

different people have different kind of mindset.

some people prefer to pay off their money which is labeled as "Expenses" rather than "Investment"

and some don't.

stupid idiot barking,
if say now house is expensive, buy later, you wont get house later cause the house price will increase, unless your salary can catch up with the appreciation house price.

alternative investement are maybe for bumi

Never regret for the first property, regret WTF not sapu more units!!!

Rent cheap = small expenses + investment (stocks...etc)
Rent expensive = big expenses + lifestyle without risk, just ended up no savings

Buy cheap = small expenses + long term investment
Buy expensive = big expenses + waiting to die (with huge risk)

So I would choose the "buy cheap". Buy within your means.

However, youngster today want the best of everything, so they either go for rent expensive, or buy expensive. Thus the overcommit.

buy cheap or buy expensive also got risk.. investment not equal to profit .. just must get the mindset right

I think 99% of people will be regretting if they were to follow TS's advice 8 years ago.

not really... many people stuck during 2009 crisis

Globally we have just come out of a long recession, so demand will catch up and prices will increase.

I think my post has been misinterpreted. I'm talking about those who CANNOT AFFORD, if you can afford then is ok.

Many people at my age group Cannot Afford even if work as accountant with fixed salaries cannot afford a home, yet taking risk to obtain a mortgage. All these will suffer when BLR moves up.

I would rather buy than rent. Stick to the concept of investment vs expenses. Some of you would say not all investment are profitable, but at least they worth more than expenses~ lol

IMHO, ppl who say Firmly I'd rather buy than rent statement (but many youngsters want to buy out of their affordability):

It's normal, it could be due to,
1. never experienced/never tried to know 1998 economic crisis, back then the rental vs installment vs interest rate all were at different mathematic outcome
2. been influenced by recent years seeing the price UP UP UP .. yahoo!
3. etc

A real case:
Recently with my fren I've seen a lady very happily viewed a 650K house, really I can't put it into words how excited she was from her words & gestures.
She seriously wanted to place deposit already, want 90% loan.

When it comes to profile checking, she said she is earning RM2300 a month gross pay, on-hand commitment is RM600 per month.
Then my fren tried to help her further by asking if she considers joint name with her husband, she+husband is earning RM5000 per month gross pay, Commitment: current apartment paying RM800 per month & just bought a new Branded car monthly installment RM1500.
Currently on-hand Commitment altogether: RM2900.

What do you think about this case? This case of course can't pass.
The above is just to share some youngsters they're just never consider about consequences.

This post has been edited by ecin: Aug 2 2013, 04:08 PM

buy within mean.. if those 4-5k income earner should buy prop at what range of price? with standard commitment..

just curious bro...are u within the 25-30 age group?

This is always the main prob of many ppl: spend too much on car before getting themselves their dream house. I personally think dat buying things shud hav sequence:
1st- buy a cheap car if own transport is really needed
2nd-buy a cheap property near workplace. Stay until get enough bullet for other property
3rd- buy ur dream house
4th- dream car shud always b the last
2nd

IMHO, 50% - 60% of the net income go to all the loan then i guess one can live without worrying much. :

roughly RM400k property and RM50k car...

This post has been edited by SpeechLess11: Aug 2 2013, 04:39 PM

To accurately put it, they cannot afford the home they dream of or desire. A young professional thinks that because they are professionals, they must buy a property that fits their lifestyle, instead of buying a property to suit their income.

Fact is, if someone is earning RM3,000, there are properties for them such as Low Cost Flats since they fall under the category where they qualify. My first property was such and it cost me RM310 monthly installment over 10 years loan.
But instead, they want a bachelor pad. There are old houses that they can buy for under RM200k. Liveable with touch ups and renovations. But instead, they want a brand new G&G landed.

Yes, people want the best, but they should buy within affordability. I want a BMW now, but I can't afford it with my income when I have other commitments. Some people, die die also must find a way to buy one even if it means little money left at the end of the day. Enough for instant noodles.

There are properties for most people. It's their expectation that must drop.

Speaking about low cost flats, TBH, I would not choose to stay there neither would I encourage someone to stay there.

With all due respect, I'm not saying that it's lowly in terms of status and what not. But, with the crime rates on the up side through the recent years, I really doubt that it's a wise choice to do so.

I think people are spending money to buy security nowadays. Well, not to say it's crime proof, but a lower chance of getting mugged or unwanted stuffs to happen to us, or our partners and also eventually, our children.