Good Day, seeking advice from anyone of you.

A fresh graduate is planning to buy an unit for his very first investment. Assuming that up front payment payable from fresh graduate is around 60k++, may i know the maximum value of property he is affordable to get? (Assuming salary is around 4k).

Basically with this kind of requirement, i think mostly 500k value of property is the maximum he can afford? But in klang valley, hardly to get a condo worth 500k anymore....

Any advice given to fresh graduate?

If I am not mistaken, ur monthly installment can not exceed 50% of your net salary.

Which makes even a 500k property a bit iffy.

High upfront payment maybe a consideration but 60k is abt 12% only.

Banks will probably look into 80:20 or better still 70:30 financing.

By the way, it also depends whether ur property I from developer (new) or sub sale. Dev units normally get full financing. Sub sale will require valuation and u may not get favourable valuation.

Example, u want a 90:10 financing of a 500k house but bank value it at 300k. So bank will only finance 270k and u need to cough out 230k.

Another suggestion look for banks that offer my first home schemes...

Try go shopping ard for banks.

This post has been edited by aurora97: Jul 31 2015, 04:22 PM

Wow thanks for the information. But nowadays, rarely can find a potential property with 500k in klang valley.

there is a lot subsale. stop crying and grow up.. there is a lot fresh grad that can not even get 300k loan.

Be constructive and offer solutions instead.

i am. subsale and grow up (reality check).

he is right.
he DID give a constructive comments and solution.

for fresh grad, its a common to see they would buy a NEW-MOST AFFORDABLE house once they hired.
when i say "most affordable", it means they are maximizing their limit of monthly payment as high as possible
let say rm4k, some of them even reserve rm3k just only for first house
if they go for alternative i.e subsale property, they monthly commitment might only just rm600-rm900
that's called INVESTMENT

unless they are planning for own stay. then it might be different case.

Sorry to ask, may i know what is subsale about?

Sub Sale mean buying from secondary market. Example like you are buying from a person or company and not from developer.

By the way, there is a lot of interesting article publish at The Star Newspaper regarding property purchaser for Generation Y and you can try search for it or take note.

Anyone interested to go Property Investment Convention 2015 on 8th & 9th August? Please PM me or call 0166598097

Are there any ways or website to check property value and price for the previous years?

Property guru has it
but the listing numbers is not so much
sometimes in certain area only has 1 or 2 ads only

If one don't have any idea about subsales, only mainly focus on klang valley area has no properties around 500k, then this investment spell trouble.

First, get to know your comfortable loan amount, next go to banks, ask around the loan amount allowed, this 2 steps help you evaluate your current financial status and commitment.

Next, spent times to attends show village/house, auction and research on internet on property. Don't limit yourself to a certain area, spread out to get knowledge and information. Besides, if it is for investment, you don't really need to lock yourself to a specific area.

After these process, then you are ready

there are definitely A LOT of properties below RM500k.
some are very decent and at prime location.

and a fresh graduate buying a property is not common.
most (easily >90%) would have other priorities at that time.

cheers!

Better buy directly from developer for first house. Less trobubles of getting loan and SnP. But ensure you buy from right developer and can be own stay if cant rent out.

my opinion, if fresh graduate cannot afford to pay down payment, better buy sub-sale, because price is relatively cheaper than developer units and u can see the actual unit.

if cannot afford to come out the 10% plus, then go for developer as mainly are low entry level/ less cash outlay.

Can share your insight of any decent subsales property that fetch below RM500k?

There are many sub sale property in Selangor that is around RM 300K, which i think is more suitable for any fresh graduate with a smaller income to buy, cause 60 k is nothing by the time u finish paying for the lawyers, valuation, reno etc etc. also many forget about this but buying a 500 k property which maybe a condo can cost u an additional RM200 per month for maintenance fee. Although u rent it out, u will need to pay for the fee. My advise start small and try to get a nice subsale unit for 300k, at least the monthly installment is not a killer. Especially for a fresh grad, better don't burden yourself with house loan to much, should also save for other more important matters.

I saw many house in rawang flat one cheap2 but issit ok to buy coz idk much bout rawang area. Sked buy then no one wanna rent then how liao?

ts, you are looking at flipping or rental collection? if rental collection you are better off scouting at secondary market.