Hi all, I am looking for advice on whether I should buy a condo or save some money for a landed in KL, or continue renting a house. Currently renting a house for 1.4k a month in Wangsa Maju which I think is a little high but I am not sure whether buying a house or renting is better. My monthly net income is 3.1k so I m seeking for advice from experts in Lowyat.com.

Buy rumahwip or rsku. Others dont touch.

Did you even check your loan eligibility and limit? With the current and upcoming OPR hikes, I think banks very hard to approve even for gov projects

For govt projects, banks are not too strict in lending unless borrowers oredi committed with other loans ... HP, PL or CC.

100% LTV @ 3.8% also 1.2-1.3k already, if add Nov OPR, maybe 1.5k excluding maintenance

Landed in KL.... can forget it, way too pricey to touch compared to condo (for me at least)

RumahWIP or rsku would be the great option in my view.

If you are budget tight, u can continue to rent first while save up to invest (build up your wealth). Buying a property is a (very) long term commitment. If not ready (financially especially), you may land yourself in trouble very easily.

With that kind of income scale i would suggest to rent first until you grow your income to an amount that u can buy confortably

Reason is there are many hidden cost to buying a house. Cukai la, maintenance la, alam flora la etc


Best pay flat rate and save and invest the money


I feel i made a bad decision with buying a house. Shud have rented and saved the balance

My current house mortgage is 3.4k wherelse rental is 1.3k. Thats like almost 160 percent difference

Haih lagi pay maintenance fee , alam flora, electric, internet, water, sinking fund all shit average out to almost 4k per month

Buy now doesnt mean have to start installment immediately. Wait 3 years for vp and by then income should improve.

It was not a bad decision buying a house but a bad decision buying an expensive house.

If one is more down to earth, the damage will not be too serious.

Indeed. i earn 18k nett a month but still feel this was a mistake. Its not a decision i regret but its more like a decision that i succumb due to parental and in law pressure to get a house before my wedding

Had i choose to wait i would have had a better deal and a house of better value during covid era when people were desperate to sell

I would say ur parents and in-laws did help make the right choice by pushing you to get a property. Haha!!

No one knows what happened if you waited. Maybe Covid didnt happened, and price surged up even higher, maybe u regreted not getting it sonner.

You didnt buy for ownstay but for investment, nowadays properties investment are high risk due to what you mentioned, a lot of hidden costs and also due to high mortgage payment too, which means rental insufficient to cover.

What sort of property are you camparing 3.4k mortage over 1.3k rental?

A purchased semiD over walkup apartment rental?

This post has been edited by jojolicia: Nov 6 2022, 11:20 PM

But Rumawip is usually in Leasehold right? I am just afraid of having difficulty with reselling it later after 10 years, I am looking for a place where I and my family can stay and maybe pass it down to my next gen family. (Assuming they don't sell my property T.T)

Can I get your insight on whether you think Malaysia's OPR will drop or will only continue to rise up? I am not sure but I usually scroll online and see articles stating that things are going worst with the world recession.

The only way is up, for how long, nobody knows

If you are looking for a place to settle down and pass on to your next gen then why are you worried about difficulty reselling in 10 years? I would say get your intentions right first. With limited resources right now it's practically impossible to get the perfect property. Sacrifices have to be made. See what you're willing to sacrifice only.

Most govt assisted housing would required consent b4 selling. Freehold or leasehold is inmaterial.

I bought a freehold rsku early this year through auction and have to apply for consent. I cannot go through the normal application because I dont qualify. If you have not own any previous property, better apply for one.

Current govt housing are actually good now compared to those 20 to 30 years ago. Is value for money. For the same 1000 sf area, you have to pay 500k above for private development, albeit with 20 facilities.

Most borrowers, if they completed a 30 years loan will see fluctuation of interest rate few times. Interest rates will not be forever going up or vice versa if the govt managed the economy properly.

If at all the situation is bad, everyone is affected but if borrower dont over committed, he can still managed.

Borrowers should try to pay off the loan as quickly possible.

Any extra money after provided for personal emergency should be used to settle the loan instead of investing elsewhere. In adverse situation, investment returns will be affected including capital.

No one can guarantee investments returns but banks can guaranteed that they wont auction the property if repayment is prompt or fully settled !

This post has been edited by mini orchard: Nov 7 2022, 06:22 AM

Well you’re starting a family so there’s that reason. If you weren’t ready to have kids yet, a centrally located couples retreat perhaps would have been an ideal first move. The biggest mistake is usually buying some family home as your first purchase. To be fair, from the time one has kids, the need for extra space is not really necessary until they’re 3 or 4 so that’s like buying you 5 years of time. But the one constant is that landed always remains in demand so perhaps your decision wasn’t too bad.

This post has been edited by Cavatzu: Nov 7 2022, 05:46 AM

Continue to rent do not buy. Even at rm1.4k mthly you consider high then how to buy? After owning a property likely a high rise you got other mthly fees like maintenance, assessment, quit rent, can u afford it? Sit down do the math. Do not do calculation based on future salary, base on current salary.

Also, what if you loose your job? Then say your salary gets a cut say 20% from new job. Can u sustain? How long can u sustain? Many in trouble because they didn't do math. End up plenty auctions and bankrupt now. Suggest u look at auctions if you want to buy.

This post has been edited by butthead76: Nov 7 2022, 06:08 AM