Nov 14 2020, 09:35 PM
QUOTE(clockpulses @ Nov 10 2020, 05:10 PM)
It'd been few years already, iam a very fickle minded whenever to decide buying a house. I WANT to buy a house because i want it, not saja saja, but Everytime i seriously thought about buying a property (own stay), i put hours hours hours of research and consideration. So many what ifs in my mind, to the point i gave up tbe idea of buying a house and going debt free route and save as much and enjoy life as much as i can.
The What Ifs
1. I lost my job?
2. My salary got cut?
3. More pandemic coming?
4. if i buy a house can i still afford to do thing i used to do?
5. What if i change job or company relocate me somewhere more farther?
6. What If there's a sudden big increment of non bank commitment, like kids, etc etc
7. Age is middle 30, what If i hold a little longer, save money and buy house at 45 year old, then only eligible for 25 years loan. Donno can afford or not
8. Unexpected repair bill?
9. Will iable to save more for retirement?
Above questions are not for you.
At the moment I'm enjoying my life, car loan will finish soon, sometimes i felt too comfortable and boring. Can own a house make life less dull?
Seen and heard many cases that many people were getting fired this year i suddenly become coward to commit. Even a high income like pilots can be layed off.
Should i enjoy my debt free life?
Do you have the fear of buying a house?
I've invested in many properties over the years and this is the advice I would give youThe What Ifs
1. I lost my job?
2. My salary got cut?
3. More pandemic coming?
4. if i buy a house can i still afford to do thing i used to do?
5. What if i change job or company relocate me somewhere more farther?
6. What If there's a sudden big increment of non bank commitment, like kids, etc etc
7. Age is middle 30, what If i hold a little longer, save money and buy house at 45 year old, then only eligible for 25 years loan. Donno can afford or not
8. Unexpected repair bill?
9. Will iable to save more for retirement?
Above questions are not for you.
At the moment I'm enjoying my life, car loan will finish soon, sometimes i felt too comfortable and boring. Can own a house make life less dull?
Seen and heard many cases that many people were getting fired this year i suddenly become coward to commit. Even a high income like pilots can be layed off.
Should i enjoy my debt free life?
Do you have the fear of buying a house?
The What Ifs
1. I lost my job?
>> Ensure you have 6 months or more emergency funds. If you earn 1k a month, you should have 6k as your emergency fund.
2. My salary got cut?
>> Ensure you have 6 months or more emergency funds. If you earn 1k a month, you should have 6k as your emergency fund.
3. More pandemic coming?
>> Ensure you have 6 months or more emergency funds. If you earn 1k a month, you should have 6k as your emergency fund.
4. if i buy a house can i still afford to do thing i used to do?
>> You would have to sacrifice a bit here and there, but in the long term, it would be well worth it for you and your future generations.
5. What if i change job or company relocate me somewhere more farther?
>> Only you can answer this question. You would have to choose a strategic location based on your current and future job. Even if you would have to relocate, there are many ways around this.
6. What If there's a sudden big increment of non bank commitment, like kids, etc etc
>> Don't over-commit by buying something that is too lavish that you can't effort.
7. Age is middle 30, what If i hold a little longer, save money and buy house at 45 year old, then only eligible for 25 years loan. Donno can afford or not
>> Inflation will reduce the value of your money while the price of the property will keep on increasing. This is assuming you save your money in FD.
8. Unexpected repair bill?
>> Don't over-commit by buying something that is too lavish that you can't effort.
9. Will iable to save more for retirement?
>> If you are renting now, yes you would be able to save more for retirement since once day your house will be fully paid for unlike renting.
Read the following books even if you don't like reading:-
1. Rich Dad, Poor Dad By Robert Kiyosaki.
2. CAsh flow quadrant By Robert Kiyosaki.
3. Guide to Investing By Robert Kiyosaki.
4. Millionaires are from a different planet by Azizi Ali
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