Hey guys, I am married and here are my personal finance status

Gross salary rm8200
Net salary rm6600


Monthly expenses (Food, groceries, work related etc) rm2400
Parent rm300
Rental rm900
Car loan (Until Dec 2020) rm570
Insurance (Includ wife) rm450
Phone (Includ wife with phone package) rm350
Internet rm190
Electric rm100 - 130
Water rm20
IPTV, cloud storage etc - rm150

After deducted the expenses left the balance at approx rm1400

Still have debt which I am aiming to clear within few months time, so I will not include it here unless unforeseen circumstances come up and unable to clear the debt, additional rm230 will be included to the top


I am seeing nowadays near completion or completed condo are selling at least 400k - 500k

So with these figures provided, it's advisable for me to get the mortgage loan let's say at 400k - 500k?
Or it's best for me to lay down and come up with higher deposit and scale down the mortgage loan to 350k - 380k?

Because of too many projects completed recently, plus I am tiring of renting that's why I start looking to secure a condo

Perhaps you are right, taking out the rental rm900 and hire purchase rm570, I will have cash flow of monthly rm2800 but that's on risky side
Guess I still need to save more cash for downpayment

Or rumawip is the option available for me

This post has been edited by lifenoregret: Apr 4 2019, 06:08 PM

My worry is the the newly launch project will have issue to handover, completed project I would know the status although price is alot higher

Currently looking around Kepong or Kora Damansara areas

Thats what I worry, perhaps just slowly survey while work hard to save more in the meantime

Don't buy the bike if not necessary, just borrow enough to consolidate the outstanding will be better

If you have been paying interest for so long, do you still want to pay more interest or you could invest / retire earlier

Btw, 3.8% really nice, however the amount is too high

This is better advice exclude the superbike

Instead of superbike, why not just plan annually travel? This will make your family enjoy together and you do not need to spend extra on interest and maintenance