QUOTE(tzeyong @ Aug 12 2018, 02:08 AM)
i am only 23 year old, and i plan to buy a new condo in cyberjaya
the condo SPA price is rm760k and after cash rebate and subsidy nett price is RM500K (including 10% down payment & free legal & spa fee)
cash back is around RM170k
my income is rm 2.6k after deduce epf & socso (house loan cover by myself , family will not support)
i plan to joint name with my family member since my salary is not enough for loan.
as my calculate , i no need to pay the installment up to 4.5 years. Installment amount rm 3300 (using cash back money RM170k)
plan to stay at cyberjaya for long term...but 1st five year plan to rent out with fully furnished (rm 2000- 2400)
is it a very risky investment ? most of my friend had no much info & knowledge about property invest...and im here seeking for advise and recommend..thank you very much.
Firstly using cash back money to calculate how long you can hold is wrong.
You need to factor in:
- Maintenance fees & Sinking fund
- Yearly cukai & fire insurance
Just same like GRR. All already factor into the price. You need to pay back for an overprice property for 35 years long.
Monthly installement 3300 + monthly fees let's say around 300 = RM3600 monthly commitment and you can only rent out 2400 max.
Are you sure you can fork out 1000+ monthly and this is best case scenario provided you are able to rent out. If not able, sure end up die standing.
And with 2600 nett income, and want to buy a 760k property?
Is so wrong. Dont buy something beyond your mean.
Why choose Cyberjaya? Is well known lelong house this area. Just luckily you didnt pick studio unit.
Here your 2 bedrooms unit at Verdi:
02-19-03, Block 2, Verdi Residence, Symphony Hills
Reserve price 🔥🔥RM 473,850🔥🔥
Auction: 14-Aug-2018 (Tue)
Expecting nobody will bid and price will drop further to 420k. Maybe somebody will grab at this price? Or will drop further to below 400k?
For a 760K bank valuation property.