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> Need guide buying my 1st house?, low cost vs middle cost?

requiem318
post Jan 4 2018, 06:12 AM, updated 4 months ago

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im stay at sg petani kedah..my age now 31..plan to get married 1-2 years later

option A: buy middle cost house 230k
option b: buy low cost 120k
option c:continue rent monthly rm250

btw now my gaji rm3300 nett..no other commitment..hope u guys can advise me..really pening now? rclxub.gif ..
my plan now is to buy low cost first..then rent out the house for rm500..after get married stay at the house for 2-3 years than look for the better house..or should i straight buy middle cost now? rclxub.gif..please u guys..please advise me icon_question.gif
teongpeng
post Jan 4 2018, 06:25 AM

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Your plan ok wat
riezzien
post Jan 4 2018, 06:25 AM

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Medium cost straight.
munak991
post Jan 4 2018, 06:44 AM

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holy shit, RM 230k house.
Selangor KL is 4x the price
v1n0d
post Jan 4 2018, 06:56 AM

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Go for the one with the lower barrier of entry, then upgrade as your income goes up.
ALeUNe
post Jan 4 2018, 07:06 AM

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Your own house.
Buy the best house you can afford.
Perbaman
post Jan 4 2018, 07:13 AM

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Stick to the plan. In case after merrid need to move to bandaraya or any other place
sheiberlee
post Jan 4 2018, 07:13 AM

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get a lower entry cost and slowly upgrade. rumah tangga nak pakai duit manyiak
maxizanc
post Jan 4 2018, 07:14 AM

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Sg Petani. Gomen job? Need to think the possibility of switching jobs. To Klang Valley? Penang etc. 31 year year old, id buy low cost only first.
requiem318
post Jan 4 2018, 07:22 AM

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QUOTE(maxizanc @ Jan 4 2018, 07:14 AM)
Sg Petani. Gomen job? Need to think the possibility of switching jobs. To Klang Valley? Penang etc. 31 year year old, id buy low cost only first.
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no..kerja kilang oni..but my friend say low cost hard to gain value..ask me straight buy middle cost..worst case he said can rent out the unit..but me kinda doubt it..i see the price look like at peak already..but who know in future can hit 300k rite? rclxub.gif

requiem318
post Jan 4 2018, 07:29 AM

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QUOTE(Villeronke @ Jan 4 2018, 07:15 AM)
Whats your savings? 100k

How secure is your job? secure..but salary increst very slow..rm100 per year

House got hidden costs such as cukai hartanah .027% a year, upkeep costs, maintenance, etc...no..new house teres low cost

All this adds up to thousands every month.

Tbh, your salary is not enough to purchase a home...no choice men..need at least to own a house rite.. sad.gif
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GTA5
post Jan 4 2018, 07:29 AM

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Here are a few issues you need to tackle:-

1) Do you have the money for down-payment if you go for middle cost? Assuming 10% down-payment, you need at least 25k plus minus for stamp duty, lawyer fee etc.

Edit: Just saw your answer above. With savings of 100k, then no issue now.

2) What if you can't rent out? Can you still afford the monthly mortgage payment? What about cost of having children after this? Surely after married your parents and in laws rush you to have a child as you already 31 yo.

3) What are your long term plans? Do you plan to stay long at Sg Petani? Who knows you might be transferred to another state or you find a better paying job in another state / place. Your house will be "stuck" at Sg Petani.

Ultimately no ne can tell you what is the best for you. We can give advice from experience only.

All the best!

This post has been edited by GTA5: Jan 4 2018, 07:32 AM
xxxJOxxx
post Jan 4 2018, 07:33 AM

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get wateva u can afford and what i mean by "afford" is include all the fees that u need to pay once u buy the house
Not only look at the monthly repayment
myasiahobby
post Jan 4 2018, 07:34 AM

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first of all what is your saving. because u need money to put down payment, may be a bit of renovation, buying furniture and electrical stuffs, and u also plan to marry all this need a lot of money. is your future wife working? maybe can help out in financial

This post has been edited by myasiahobby: Jan 4 2018, 07:35 AM
and85rew
post Jan 4 2018, 07:36 AM

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go low cost
MonsterPips
post Jan 4 2018, 07:36 AM

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Buy house u want to stay first
Buy house for rent u need to prepare cash if vacant
maxizanc
post Jan 4 2018, 07:38 AM

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QUOTE(requiem318 @ Jan 4 2018, 07:22 AM)
no..kerja kilang oni..but my friend say low cost hard to gain value..ask me straight buy middle cost..worst case he said can rent out the unit..but me kinda doubt it..i see the price look like at peak already..but who know in future can hit 300k rite? rclxub.gif
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With that salary. Too risky mang. 250k installment how much? 1200? That is almost 50% of your income already (exclusive of all the utikitues etc that involves house) Safe line is 30% max

This post has been edited by maxizanc: Jan 4 2018, 07:40 AM
dregatar
post Jan 4 2018, 07:40 AM

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U sure low cost house in SP can rent out for rm500?
Even in BLM double storey houses go for rent at 600-750.
SP is not a good place for investment.
Better u reassess your financial situation and buy the best house u can afford.
that is if u planning to settle down in SP.
Cookie101
post Jan 4 2018, 07:42 AM

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get middle cost straight- and for own stay purpose...

worst case- just rent out a room...

once you buy you hardly will sell off unless 'upgrading'
darx84
post Jan 4 2018, 07:43 AM

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If you are eligible to buy low cost. Go for it, low cost rental return is very good. In KV and JB area u can find low cost that is less than 100k. How come in kedah low cost need 120k? Once u own a property I don’t think junk u will qualify to buy low cost anymore.

This post has been edited by darx84: Jan 4 2018, 07:44 AM

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