Hi
Would like to ask for advice from experienced home buyer here.

What is the property value I can afford with about 5k income. Nett would be 43++. Assuming I can pay 10% of the down payment. About 50-70k.

At what income did you get your first property? And how much is the property?

Am planning to get a place in 3years time, hopefully when my income increases. Btw location, klang valley

Please don’t troll, want to get some opinion so I can know what to expect.

Got mine when I was earning around RM5k, 2016.
RM522k SNP (Actual RM485k), landed terrace in my hometown.

This post has been edited by Michaelbyz23: Jun 17 2022, 09:51 PM

Importantly what your comfort level on the monthly installment? For a start might consider RuwapWIP / Rumah SelangorKu and upgrade as your income incremental down the road.

4k nett bought first property rm400k during MCO

single storey terrace in KV

200k

Depend on your current commitment, and status.
if you want to twist maximum can go up to 70% of your salary portion DSR for a house.

But if you included owning a house without given up your life style then better control at 35-40% of your salary

If let said you stay with parent, eat & live with parent, have plenty extra money to buy home, then can go 70%

If you have a girl friend, i suggest not joint loan, and if you need to commit some GF money, then 25% of your income for a house.

Depend on your current commitment, and status.
if you want to twist maximum can go up to 70% of your salary portion DSR for a house.

But if you included owning a house without given up your life style then better control at 35-40% of your salary

If let said you stay with parent, eat & live with parent, have plenty extra money to buy home, then can go 70%

If you have a girl friend, i suggest not joint loan, and if you need to commit some GF money, then 25% of your income for a house.

Can I ask how much was your down payment? And monthly repayment amount?

Congrats btw. How much is your repayment and loan amount?

Planning to get a place few years later only, but if talking about current commitment, its just a car and just monthly allowance to parents. Still got balance 2k+ for expenses and savings.
And yeah GF wise, im not gonna have a joint loan with her, my goal is to move out and live alone atleast for a year till i decide to get married.

Downpayment around RM20k, monthly repayment RM2200 back in 2016.

RumaWIP is the best starter if you're not hungry investor type, in fact some might argue it's actually pretty solid investment product

500k property can just put 20k downpayment? i thought usually 10% or more?

Price isn't too important factor for you, as long as within ur affording level. Buy good location u will never regret, if u don't like that you can rent or sell easily.

3 years time probably you can target undercon project with reputable developer. No rush.

100% loan under first house scheme as under 500k

Repay around 1600 to 1700 per month... 35 years.. Hope can settle earlier though if have cash

Snp 522k (borrow 90% based on this) - RM469k
Actual price RM488k.
So top up about RM20k only.
Free spa legal fee and MOT stamping

There is no one answer to this. You must first ask yourself how much you are willing to spend on housing commitment monthly and not to overspend on housing.

I got my first house back in 2017 with 3.5k salary. It was an RSKU unit near to my parent’s house so, it suits me just best at the time.

The important thing is I think, whether you are able to mentally prepare for it. A 35-year loan can be daunting.

This post has been edited by arffrhn: Jun 18 2022, 10:53 AM

On hold first, wait OPR up again and will have alot promotion coming from developers.

This post has been edited by wilson1149: Jun 18 2022, 01:53 PM

if you ideal price is around 430K+- its fairly a good ideal price for your current stage.

As the cashflow on your hand i can see your choice is wider. i can sharing my opinion for your case.

New project: Public transport attach project
Operating MRT project: Cheras Area
MRT project not yet operating: Seri Kembangan
LRT Project: Bukit Jalil, Chan Sow Lin
or Rumah Wip / Rumah selangorku

If sub-sale
Apartment / flat 5min walking distance from public transport with good condition.

If you are risk taker, welcome to lelong below market value 30% (do enough research to avoid the caveat, double transfer, developer in liquidation, owner occupied unit.

I knew it can be trouble if "breaking up" after signing the loan, but I have no idea how worse it could be... like legal process, financial conflict etc... would you mind to share a little bit to me