Outline ·
[ Standard ] ·
Linear+
Opinion on Funding More Money for A Property .
|
TSsimchi
|
 Aug 23 2007, 12:11 PM, updated 19y ago
|
|
I & my 2 sisters contribute MYR 800 each into our joint bank account every month as we are planning to get a house @ MYR 300k once our savings have accumulated to MYR 90K which takes approximately 3 years to do so as we do not want to rush into buying a house & having trouble for repayment later should anyone of us get out of job unexpectantly .
Question is should we prolong our saving duration into 6 years then only consider buying a MYR 300K house ? Your opinions are much appreciated .
|
|
|
|
|
|
TSsimchi
|
Aug 23 2007, 01:02 PM
|
|
|
QUOTE(kok_hui @ Aug 23 2007, 12:43 PM) I suggest you buy the house on your own whenever possible, don't share with ur sisters, this will minimize problems in the future. As for you question, more cash up front is always better as you will save alot money later on the loan interest, and the monthly installment amount for 100K loan is much lower compare to 200K loan, so you won't have burden on the loan. Of course these all depend on your needs, if you can't wait until 6 years, then buy the house after 3 years, just make sure you get the best loan package. Wish you success. Thanks Kok Hui . We have the thought of giving our parents the best , us sisters are still young & very close & understanding . We have been pondering whether to get a house together or seperately but still keep coming back to the conclusion that we need a bigger house for our parents & brothers & sisters . |
|
|
|
|
|
TSsimchi
|
Aug 23 2007, 04:08 PM
|
|
|
QUOTE(kenji1903 @ Aug 23 2007, 02:48 PM) if possible, buy it earlier... the longer you wait, the less value your money has... with the construction material increasing at 10-20%... 6 years later you won't even get a small condo with RM300k... then again... location is a major factor... if you don't mind traveling, passing tolls, high petrol bills, you can always go for properties out of the city... these that mentioned are quite out... rawang, seremban, nilai... which i personally don't see the point... getting a house together will potentially lead to problems in future because all of you will lead your own lives and have different lifestyles and commitments along the way... heh , we are from Seremban . And regarding getting a house together , we would like to do the full repayment as soon as possible if things do work out eventually . |
|
|
|
|
|
TSsimchi
|
Aug 23 2007, 04:59 PM
|
|
|
Yeap , aiming for a Semi-D ..will only go for house hunting when we've saved enough . Need to do some calculation & tighen up our belts .
|
|
|
|
|
|
TSsimchi
|
Aug 23 2007, 08:37 PM
|
|
|
QUOTE(dreamer101 @ Aug 23 2007, 08:24 PM) simchi, 1) Keep on saving money. 2) Do research on where you want to live. 3) Keep a close watch on the selling price of the house. 4) Wait for a recession. There will be one within the next 6 years and housing price will collapse. Buy one when you find a good bargain at the place that you want to stay. This is like shopping. Dreamer Dreamer101 , how could you predict there's a recession coming within the next 6 years ? Sorry for being a marketing noob . If there;s one coming in the way I guess I would save up more money and get a much lower , decent loan . |
|
|
|
|
|
TSsimchi
|
Aug 24 2007, 12:49 PM
|
|
|
All , Your inputs are very much appreciated . Guess what is essential now is to continue to save til a certain amount . Yeap , probably will look high & low for the almost perfect house soon . These take time  |
|
|
|
|
Quote
0.0174sec
0.54
6 queries
GZIP Disabled