Choice,

I am assuming that you are buying a house to live. Do you know where you want to live to begin with?? If you do, you start scouting around the area and check the price and the environment.

Are you married?? If not, how do you know your future spouse (wife/husband) want to live in the same area?

In general, do not buy until you have married for a while.

Dreamer

ah_suknat,

Then, that is ONE reason not to buy a house. The person may live with the parent for his/her whole life.

Dreamer

tinkerbel,

I disagree. The factors that you use to buy investment property versus a place to live is different. You have to decide. I have seen enough people losing money on property because they did not made this decision ahead of time.

<<I see no harm for TS (he said he has the $) to start investing in a property.>>

This is a BIG investment. If you do not know enough to make the RIGHT decision, you will be paying this lost for the rest of your life. Study carefully before you make this kind of decision.

This is not like buying RM1K worth of UT or stock. The amount of money involve is a lot bigger.

Dreamer

This post has been edited by dreamer101: Apr 12 2008, 07:06 PM

tinkerbel,

<<I'd recently purchased a property - unlike the considerations dreamer101 stated, I have up to this point no idea what I'm going to do with it; I definitely have no idea of moving out on my own at the current moment but have left that option open. I can also opt to sell it off or rent it out when it's completed should I decide not to move in.>>

You should also mention to TS that you have a lot of money and this property is your second or third property. This is not the same situation as the TS.

Look, I have a 82K 40' X 80' single storey Bungalow sitting vacant in rural Selangor. It is all paid for and I can afford to do nothing and just let the property sit for 10 to 20 years. I do not think this is something that many people can do.

My neighbor bought a house and has NO IDEA what he is going to do. Then, he could not rent or sell the other house. So, now, he move to the other house and rent out the house next to me. His rent is so low that he cannot cover his installment and he is paying installment for 2 houses now. Hopefully, he can survive.

He paid 250K for the house and spent 100K on renovation. One house in the same row had just sold for 190K. Another example of you will lose money when you sell the house that you lived in.

Dreamer

Pai,

1) You missed my point. He bought this house to live. It was the perfect location for him to live. So, he spent 100K renovating it.

2) The problem is the second house. He bought it to invest. But, it turned up to be a bad deal. He cannot sell or rent it. He could only rent out the first house.

3) I guess you have not heard story about people going bankrupt over the house in BU/TTDI during the last recession. House price do not go up in a straight line.

Dreamer

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Added on April 14, 2008, 9:07 pmtinkerbel,

1) It is VERY SIMPLE. If you plan to live on this house for quite a while, you will spend fair amount of money on renovation. If not, you will not. Everyone know that 90+% of the time, you cannot recover the cost of renovation. So, if you plan to sell the house, you do not renovate or do minimal renovation.

2) From your previous postings, it looks like you will be moving into this house?? Am I wrong?

Dreamer


This post has been edited by dreamer101: Apr 14 2008, 09:07 PM