Was thinking won’t renting be a better option rather than buying?.
Just started working - rent a room.
Married and with kids - rent condo/apartment nearby work or kids schools
Retired - move to where your heart takes you; houses by the beach or foothill of some mountains. Penang or Ipoh a few years (eat to your hearts delight), Trengganu beach house to watch the sunsets or move to those small districts or town to enjoy some peace and quiet. When really too old to move, go retirement or nursing homes.
But must have discipline in setting aside the money that is meant for the house. Another extra advantage is don’t have to maintain the house. Nowadays houses are not build to last, 15+ years, need more money to repair the house. Might as well rent since abundance of condos with competitive rentals

This post has been edited by nauticat99: Sep 25 2024, 12:53 PM

You have your right to make decision, rent or buy is up to you.

It's ok not to buy property when you just started working.
Renting

Once you have a family with children and when the landlord raises the rental, you need to search a new house to rent.
You will feel the hassle of moving from house to house. See if your family will feel tired.

Suggest you to think about your wife and family.
You just need one house to raise the kids.

The gomen has schemes for fitst house owner. Suggest to try it once you are ready. Price is around RM300k at the moment.
Me not agent.

P/S
Tgnu is an east coast state to watch sunrise. Perhaps you have a way to watch sunset by that beach. Yes l understand.

This post has been edited by Jagalat: Sep 25 2024, 01:14 PM

You can rent.
You also can buy.
As long as you use your own money. You can decide what is best for you.

I believe in you.

Rent ff house no hassle just bring bag and go.

Light bulb burn also can call landlord service you.

So you want to be serviced or serviced ppl?

The key is to reduce your personal clutter by getting rid of unused junks and unwanted items.

When I moves to a rented home after MCO, I sold all the extra and unwanted junks from gadgets, cars, clothes, furniture, office equipment and even hobby collections on Carousell and raised over 200k. This 250k allowed me to survive for almost a year jobless. Since then I kept on selling junks online and eventually only left 2 cars, 2 laptops, 1 desk, 1 office chair and few IKEA racks.

It's a personal choice.

If you buy but later older don't want it, can still sell or rent out...
If you didn't buy, older time want to buy also cannot...

The choice is yours, choose wisely....ya

When the cost of owning a space is similar to the cost in Beijing or Europe, then maybe renting would be the better option.

Nothing wrong, just preference.
Some rich prefer Axia, some poor prefer BMW.

Our world has some kind a things call “yin yang” 陰陽平衡，its like a balancing tool to help this world operating smoothly by its own, its just like economy, for example:
taking grab daily vs owning a car
renting house vs owning a house
employee vs employer
landed house vs condo
ios vs android
china vs US
BTC vs USD


So there's no real correct or wrong. Everyone's background and opportunity cost is different, its depend whats your current situation to making a right choice.

This post has been edited by MalaysiaCEO: Sep 25 2024, 03:08 PM

Actually no difference, if rent below the instalment payment made by landlord, the tenant made a gain. I believe many middle range condos nowadays still rent out below their instalment amt

But the tenant must be disciplined, save the amt in lump sum. So he can have huge cash pile in future

Like me bought landed 6 years ago, when sold it made six digits of cash, that is like a equity to me. House owner can later liquidate their landed property as long the value goes up.

Both also can reach same destination, just using different way. Tenant needs high discipline, landlord facing risk of price fluctuation

This post has been edited by Jingle91: Sep 25 2024, 03:27 PM

why not do both? buy property and rent out to tenant, then you yourself go rent other place?

From early stage to mid stage, it still ok to rent, but when you 60-70 years old, i doubt you can still rent....no owner will rent to you old man.

if you buy and rent out to others, at least when you old, no one want to rent to you, you still can take back your unit and stay inside.

Feel free to re-evaluate this statement after having a family and kids.
See what your answer will be by then

if you think rent is good then you rent. if you think owning a property is good then proceed and own a property.

Because ultimately it is what you think is good, once you decided, the hassles all that doesn't matter anymore

Agree with all the opinions here. There are pros and cons in both- own a house or rent. For me as a retiree and thinking back those choices made, I just feel it’s better to rent. One of the reasons is also because kids are not here in Msia, no point keeping properties. Be as free as a bird, migrate and move around as and when we feel like it. Just like new generation way of thinking - Yolo. Must as well live life to the fullest. It’s just that we do it the later part of life

i agree

rent = freedom

can move whereever you want

once u got mortgage you are tied down, you cant quit your job easily because you have to pay your mortgage

Why need to buy a house most of the time is because we tend to keep old midset inherit from previous generation. Like our parents most of them buying a house and they expect children do the same. But when the time parents bought house 30 years ago the house price is very cheap.

Imagine buying a 500k house now after 35 years paid total we paid will be almost double. If buying a landed house maybe after 35 years can sell 700k or maybe 1m and yet we actually not earning (total paying principal + interest will be 1m). Worse for high rise because house price down after 15 years built especially for high rise built after 2015. How many of us willing to pay 500k for a second hand high rise with age more than 35?

500k high rise mean monthly instalment 2300 + 200 (maintenance fee) will be 2500. If we rent the unit at 1500 and save up the 1000 put into KWSP account. 35 years later your KWSP account will be about 1.2m (yearly 5.5% dividend). This is saving from instalment, if with our monthly salary withdrawal add on it is easily surpass 2m.

That’s exactly why I said rent is a better option than owning properties. A few of my neighbours paid 4-5 k per month for their house instalments but can only rent their units for 2-2.5 k. Imagine their losses over 30 years and vice versa your savings if you rent instead.
I forgot to add in the mandatory property maintenance charge by management plus your own wear and tear repair. That could work out and extra 500-700 per month.

This post has been edited by nauticat99: Sep 26 2024, 10:28 AM

i agree with ts, well thought.

house itself is a baggage. so many bills to pay.

Other things that need to take into account is the opportunity cost of your downpayment . Also instead of looking at repayment amount vs rental we should be looking at interest expense vs rental . In the long run interest expense would be coming down whereas rental would be going up .