QUOTE(dave1987 @ Oct 26 2019, 12:54 PM)
https://www.iproperty.com.my/guides/critica...n-overlook-ctr/
Maybe this one will be more details with self explanatory
Let’s assume you bought a really good condominium, something where the mortgage is lower than the rent. Your monthly mortgage payment is RM2,500 but your rental income is RM3,200. That’s a profit of RM700. Surely this is great right? Not likely because you’ve forgotten about other costs. Here are just some of the other costs you may have overlooked:
1. Taxes (assessment and quick rent)
2. Joint Management Body fees (for strata property)
3. Annual improvements & maintenance (repainting, replacing furniture, repairs, etc)
4. Memorandum of Transfer (MOT) on stamp duty (for new purchases)
5. Mortgage Insurance
If these costs work out to an additional RM700 per month, your net income is zero, which is still good. However, if they exceed RM700, then you’re negatively geared..
Copywright to writer
This topic is about BNM Assist Housing Loan.Maybe this one will be more details with self explanatory
Let’s assume you bought a really good condominium, something where the mortgage is lower than the rent. Your monthly mortgage payment is RM2,500 but your rental income is RM3,200. That’s a profit of RM700. Surely this is great right? Not likely because you’ve forgotten about other costs. Here are just some of the other costs you may have overlooked:
1. Taxes (assessment and quick rent)
2. Joint Management Body fees (for strata property)
3. Annual improvements & maintenance (repainting, replacing furniture, repairs, etc)
4. Memorandum of Transfer (MOT) on stamp duty (for new purchases)
5. Mortgage Insurance
If these costs work out to an additional RM700 per month, your net income is zero, which is still good. However, if they exceed RM700, then you’re negatively geared..
Copywright to writer
NOTHING to do with cost of owning a home.
Open a new thread and you can write till sunset.
This post has been edited by mini orchard: Oct 26 2019, 01:44 PM