QUOTE(matthewctj @ Aug 2 2013, 05:01 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.
Back then appreciation speed of properties were not that fast and it is now.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.
Let me ask you 2 questions:
For a person of RM3000 monthly earnings, how long he has to save money for RM50K renovation cost?
How much can RM50K did for renovation in year 2009 and year 2013?
Aug 2 2013, 05:48 PM

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