Good day ladies & gentlemen,
Im currently looking at Sime Darby property @ East Residence - Alya
Ive been unable to find a proper market rate of this said property, was it 3.2mil or more?
A little background of me, which i hope it may be of useful when giving me advise financially, to be noted that this is my first time buying property.
Background:
Age: 31 Single
Occupation: Management Director
Industry: Natural, Marine, Agricultural and Food Sciences
Financially:
1. My monthly income is MYR 85,000.00, on which:
1.1 KWSP: (Employer 13% / Myself 11%)
2. I also have another own trading business, on which in monthly average basis:
2.1 Income: MYR 60,000
Personal Income-Tax 2018:
LHDN: Ive contributed a total of MYR 406,854.00 on 2018
Commitment:
Currently i'm only serving my car loan at MYR 10,438.00 and will be ended by July 2019, after which, i will no longer has any commitment. My credit card in CCRIS has been good as i do not owe any credits. Paid on time for the past 3 years.
Apart from the car, i don't really spend much of my income, except on my rental at RM1,500.00 monthly, utilities around MYR 500.00 (Phone, unifi, and water and electricity), foods around MYR 2,000 and sometimes do some grocery and shopping which is around RM500.00. On some occasion, i may pamper myself with some fine dinning, once a month at MYR 300-400/meal. That's all.
I give my parents MYR 10,000.00 / month for their expenses.
My questions are:
1. Anyone has any idea whether this property is good? Whats their workmanship, people around, and the environment, from the ads ive seen, it has been good. Im currently overseas and may not be able to come back the soonest to visit the place, am planning to just go by feelings and purchase the property.
2. What about the maintenance fees of this property, how much does it cost and does it worth it?
3. Will bank give me a loan of say 30 years?
4. What if i DP 20-30% and loan for max tenure, then perhaps when i have more cash, can i just finish paying in lump sum say within the next 10 years instead of 30 years, even tho my agreement with bank maybe 30 years.
Your advise and input is greatly appreciated.
Thank You.
This post has been edited by Freemasonry: Mar 21 2019, 03:01 AM
First time buying property, may need some advice, Targeting East Residence