Just to share some of my experience,
Initially we wanted to rent first to try out certain places if it suits our needs. Thankfully, it didn’t work out and we moved. We liked the new place and purchased. Then when we had kids, we had all sorts of issues because we didn’t foresee that far ahead. Our earlier “investment properties” were not suitable to either one of us before kids, let alone after kids. So we were stuck in a predicament that we can’t afford to buy anymore other property without selling but can’t move without renting elsewhere to sell which is a massive inconvenience.
1) my suggestion is if you want to purchase an “investment property”, it’s probably wise to purchase one that you and your future wife might agree on. To most of us, a home investment is a once a lifetime event and it’s necessary to get it right. Otherwise you’ll have a tough time changing later on. So discuss this together.
2) if you plan or might plan for kids, choose location accordingly. Same as point number 1 above.
3) if you need a support system, whether it’s near parents, in-laws, Nannie’s or daycare centers, it is important to consider those too before purchasing
4) yes. Location is key, but if you can’t get the three items above to work, any good location won’t be good enough for you.
5) like others, I agree that you should invest in RUMAWIP if you qualify. As a pure investment property. It’s one of those rare properties that may be able to offset the mortgage with losses. Amazing. Illegal of course. Still amazing.
Financial Wise to dump RM900k on 1st property? Condo
Sep 29 2024, 10:54 PM
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