QUOTE(rhkk91 @ Jun 22 2014, 03:14 PM)
i think it's hard to get that amount, the $ monthly needed to repay is gonna be hard for both of us.. targetting max 400k, but still considering location though..

thanks for ur advice anyway bro !
Hi, I read through most of the comments here. So, you are really born on 1991? It might sounds young, but if you already got enough saving (15-20%) of the house price you want to buy,then go ahead. I am not sure the down payment rate they offer, but usually 10% of the total house price, and another 5-10% for SNP, legal fees, lawyer fees, etc. Some developer bear for you.
Just a some questions to ask yourself:
1) You willing to pay 40% of your salary for monthly installment? It should be around 1.5k monthly. Which means you will not have other commitment such as cars and credit card.
2) What is long term planning?
>>In next 5 years? Continue to stay? How about 10 years?
So, the THEORETICAL mathematics is simple, you buy RM 300k includes loan interest (usually add up almost double the amount) will be 600k. And you want to pay for 35 years of loan for 500sqft room (I did not consider as house).
After 5 years of loan payment, said you want to sell and move to bigger house, and so you sell for 400k (market price that time). And you should earn 100k, right? You are WRONG!!! There are more of the hidden cost in it. And is there any one want to buy 400k for a room? Can you sell it?
Consider you do not want to sell it - how much you can rent? One guy mention that you can get a house with 3 rooms with 2k, so you want to rent for 1k monthly, consider the rental market still same as today. And you still lost 500 monthly. BUT hei, how about monthly SOHO service charge?
And by that time, you want to get a bigger house and start paying for another 2k monthly of new house and car? Unless you can earn 10k monthly like some of the sifus and brothers here, I hardly imagine how can you survive with RM 7k monthly of combined workforce.