For the 1st house, normally ppl will buy sub-sale ready to move in. If buy new unit, the monthly rental + loan servicing concurrently will suffocate the young buyer.

Generally people nowadays don’t want subsale because need to fork out 15% of prop price upfront. The old way is of course to use epf to cover this cash or deal with seller to mark up but that assumes your property will appreciate or generate cash flow more than epf or loan rate. Looking at the current property market yield don’t think that’s been the case for awhile now..

Since you are so young, firstly study hard to get good job.
Then, start to save money by getting scholarship or part time job (on assumption your study is not affected).
Once you got your job, work hard to climb up the corporate ladder while you can start to find properties you liked.

Nevertheless, you can learn about finance yourself. You can start to learn about finance as early as possible.
Fixed deposit, stock, mutual funds, FOREX (not advisable as the risk is high), property , gold, futures (higher level), NFT, bitcoin , and etc.

This post has been edited by godwin921: Mar 2 2022, 11:43 AM

[quote=McMatt,Mar 1 2022, 11:01 AM]
I think it must have been difficult. Because assuming he paid 50k dp, his 400k loan of 30 years tenure would be about RM1.9k monthly. At 3.7k gross or 3.3k nett, he wouldn't be able to save much, probably living with family, no car loans, no medical insurance, and no allowance for his family.


Well, depends how you define difficulty. I think the loan repayment was RM2.2K then, with monthly maintenance of RM280/month. The first 1 year was quite tough, coz I rented to a family, but didn't get any rental for at least 4 months coz so hard to kick them out. Managed to kick them out and have rented out my condo since. Good paymaster until now, thank goodness.

So in a while now, the rental can cover a bit of my loan repayment, especially during these tough times. My income has increased tremendously so I guess, the difficult times have passed.

Indeed, if it was meant for investment and with getting rental returns from it to offset the repayments. But for the person who is buying for self stay, that would be so difficult that he would not have sufficient money for living decently. Which was what I thought it would be based on TS question and title.

I was lucky that I managed to rent it out. Initially was thinking of own stay but ended up renting a small room for my own and rented out my place. I was lucky I didn’t have to support my family first so that was a plus point. But yea, To each of its own. Don’t rush into buying property if you are not ready. But there will always be no best time to do so.

Depends if you're buying it for own stay or investment.
Perhaps keep it within 30 to 40% of your net income.

Optimum DSR is about 20% of income and >30% is considered stretched.

This post has been edited by icemanfx: Mar 3 2022, 09:50 AM