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

buy house then rent but stay in one room the house..

As stated in my earlier post, a housing loan is on average a 30 years committment and cannot escape few cycles of recession.

One can lose his job or business anytime during the 30 years and not limited to the 1st recession.

Even if borrower is incapacitated during tbe loan tenure, there is mrta to cover the outstanding loan if borrower has undertaken the purchase.

As long not over committed, nothing serious will happen. If at all the worst happen, liquidate even if is a loss. A loss from initial 500k is more painful than 200 to 300k purchase.

Plan the purchase and buy within affordability.

Timing of purchase has its pro and con.

Buy early ... longer long tenure, lower monthly repayment, earlier settlement, lower borrowered sum, 2nd purchase

Buy later .... shorter long tenure, higher monthly repayment,

This post has been edited by mini orchard: Nov 7 2022, 07:54 AM

Spot on!!
Age and Time is your worst enemy, not the interest rates or rise in inflation or recession.

The earlier, you "endure" the pain, the better you'll be later one.

best time to buy is yesterday, 2nd best time is today.

feel like this questions been asked a million times.

buy within your affordability range for own stay is almost never bad.

Lol- i tend to agree, but this make us sound like property agent want people to buy buy buy
there is also another extensive thread call Property Bubble which advice against buying ( since 2008?)

anyway- what is the future ? get a high rise at strategic location?
or landed at suburb

Many high rise seems more affordable these days - around 400-500 psf, that will be a good start ba

As if loan repayment is immaterial.

during a 30 years loan tenure, borrower will endure 2 or 3 economic recession.

Most of those who bought in the last few years would think otherwise.

700-800 psf even 1,000 psf was common a few years ago.

People who bought in 2013-2017 period really paid top dollar. Can’t be helped. Many did fall and those in ulu areas like Cyberjaya really got screwed. There are success stories too in the truly well connected and desired areas and buildings.

It’s still a good time to buy now if you know what you want and where to look for it simply because there’s so much choice. If you can buy a unit today that is 30% cheaper than what someone paid for it 5 years ago it’s a bit of a win la.

This post has been edited by Cavatzu: Nov 7 2022, 12:58 PM

Because I am afraid if I get a Rumawip, my grandson or great grandson will have to worry about what to do with the contract once 99 years have reached. I heard that after 99 years, the government can take back the house even though u fully pay mortgage already and they won't help u with finding another house.


Hi, thanks a lot for your input and insights, I agree that if we have extra money, we should atleast keep and make sure that we are stable in the next few months installment to come.


That is not possible bro haha, me and my parents are 3 people and my parents want separate rooms. Would be weird to rent out a single room out to a stranger tho assuming my parents live in the same room as the cheapest option is 3 bedroom house.

How expensive was a house back 5 years ago? I see a lot of houses cost rm 400 - 500k in KL & LRT/MRT now and I don't have a car so I have to live somewhere near the LRT. i would appreciate if you can give me your insights as I was not into property back in 2017 so I have no idea..

wait



wait till you got more money first haha

By the time reach your grandson, is already your son problem.

Honestly, if the primary intention is to have multi-generation home, then landed is your best choice in my opinion. Im also looking for landed too, just that now is not the time to dive in as Im still single and not yet married.

and frankly, I wouldn't worry so much about my grandson's generation. By the time they've become adult, definitely they'll move out. and no intention to stay in with your son/daughter. (unlike landed which is huge for several generations).

Don't need to think so far ahead till grandson generation la, you can't even figure out your current situation. Even if you really leave a unit for your grandchildren, what's so sure they'll appreciate it? What if your son become a gambler and lose it before even reaches your grandson?

Just focus on getting a stable environment for yourself and immediate family which also can sustain first few years when you get married

It’s true. Most young people nowadays will find it difficult just to survive so don’t think too far ahead and focus on improving yourself and your earning ability if you truly want to provide for all.

Affordable housing is a good bone thrown at young Malaysians so don’t discount it too much.

Freehold is actually not free from government takeover you know.

If die² want that plot of land, government can figure out ways to take it back.

And honestly by that point at the end of 99 years you're already close to the end or shuffled off your mortal coil unless your family is full of centinarians, and that's assuming you and/or your family will stay in that house or on that plot of land forever. Landed houses rarely tahan more than 40+ years without becoming severely expensive to maintain, at that point you might even decide to sell it and upgrade/downgrade. If is high-rise/strata by 20 years will be very run down.

The main downside of leasehold is actually the resale value, since banks usually hesitant to give loan to property with not much lease years left on title.

Buy for yourself first and foremost. Future generations can always find a solution with future generation's circumstances.

This post has been edited by DragonReine: Nov 7 2022, 06:02 PM

Because so many think like this young chap, freehold still has a lot of value in the subsale space if the market tide ever turns that way and supply dwindles.

Yet many promote 'buy for children'

It’s a smart sales strategy to build on historical cultural norms and create FOMO by exaggerating claims on land supply and inflation of construction materials.

In reality average units today are cheaper than they were 5 years ago with developers having to take less profit.

This post has been edited by Cavatzu: Nov 8 2022, 08:01 AM

Agreed on the part especially when SA kept selling that land not alot already and material raise price, so cost will increase slowly.

But actually one thing interest me, if based on psf wise, landed would have the best deal compared to condo. It's just that the absolute price is not favorable.

Of course many people in the Western world have completely ignored high rise for landed so there’s like at least a 50-100% premium for landed.

People are realising how important it is for privacy and a shelter away from others when the need arises. The gap is still relatively small in Malaysia.

So TS have you decided ?