Guys, seriously i wanna ask your opinion, i just booked a condo last week..and bank's now processing my loan...and..what luck....now everything is going up especially living cost (due to the increase price of petrol)...Do u guys think i should proceed with my purchase?

...Appreciate your comment.

I think u should purchase now as the price may shoot up in future. Property price nvr decrease ones. It is a long term investment

depends on condo location, normally price of house property will raise and wont depreciate =)

sure can buy....
i also wish to buy a house asap but wat to do, me still fresh and just finish study..
sigh...

location?..let me see..10 mins drive from pkns bangi, surrounded by UKM, Nottingham, Uniten...and haerd some other private college coming up. Also near some bus terminal, and Kajang Komuter. Well its smack right in the middle between bandar baru bangi and something like 15 mins drive to sate kajang

unless u have stretched ur finance too much to buy a condo until any increase in cost of living will cause u in hell, i don see a reason y u change ur mind. cost of living if not increase this year but next yr, will u buy now ? if u not sure, then save enuf or earn enuf only buy.

have u owned a property ? since u say price may shoot up, means it's not definite property price can go down too, especially condo/aprtment.
if it is for own stay, it is not an investment.

then u shouldn't simply give freshy comment.

it depends a lot on the area... sorry i'm not familiar of the area... but some property prices DO drop. my fren's shop lot have dropped 20k since it was completed 5 years ago because of the rumah setinggan built in the area. nothing you can do about it

TS, how much is the condo that you're buying??

if the market price stagnant also enough to give you a headahe in future when you want to dispose it ..

true.. you loose out quite a lot that's why a lot rather not sell unless they're desperate for the $$

So far i've calculated, it'll probably be eating up about 40% of my nett currently(assuming my gaji still the same for next 3 yrs ). Hmm im still contemplating. while the bank is processing my loan..30 yrs loan per month almost about 1k (plus miantainence fee) of course..the easy way is to rent it out ( as that is my objective actually)......

...Im only staying after i settle down, get married...otherwise im renting it out..Thats my initial plan. ..but then again, i dont even know if its a good plan.

This post has been edited by HaszAhmad: Jun 9 2008, 05:07 PM

Dear TS,

If the cost of living going up and you can't afford repayment, etc don't buy simple.

Since it's a condo as a rule of thumb TS shouldn’t expect capital appreciation to go up much versus landed properties.

Additionally depending on who you ask, buying property for own stay should not be viewed as an investment. Interest paid to banks is the rent you pay

Markets ups and downs don’t really pose a threat for own stay buyers. Own stay buyers are likely to stay put regardless of market fluctuations.

People who buy houses for own stay won't suddenly flip their houses on market ups and downs. The associated costs and hassle would make such a practice impractical...

This post has been edited by aaronpang: Jun 9 2008, 05:09 PM

i say forget it, u r stretching urself too much. if ur proffession highly specialised n in high demand, u may survive the recession , if any soon. if BLR shoot up later, ur loan may take up 50-60% of ur nett, very dangerous. i m assuming u don have a carloan n other loan.

nope no car loan so far...and other bills settled. im really a bit confused. Should i just like wait for a while, kumpul some dpayment, and buy a landed instead.....well the banks' gonna work out something like 850/mth plus mrta..so fixed for 30 yrs...but almost 1k/mth for a condo on 30 yrs..sound pretty..ermm.."extravagent". and even if i rent it out, i cannot guarantee the renting rate is the same periodically and cant even guarantee can rent out....... ...

This post has been edited by HaszAhmad: Jun 9 2008, 05:15 PM

Errr eating 40% nett sounds dangerous... got any other loans?

Personally IMHO you don't seem financially capable to buy a house...

Is your spouse (future) contributing?

Double incomes could make your property purchase doable...

i thought usually banks will only loan out amounts which repayment is not 30% higher thank your income?

nope no other loans...and my spouse only contributing..after i get married with her lorrrr

having more cash in hand doesn't mean u should go for bigger house n again stretch ur loan to 40% of ur income, the less loan u take the better.

when u say u not sure, most likely u won't get tht rental tht cover ur loan instalment.

33% of gross income, 40% for profesionals.

i always believe it's better to have some $$ float for rainy days.. you'll never know

tht's y i m selling off my apartment for profit now, cash in hand is anytime better.