oooo lliiiicccchhh mmmaaannnn!!!!! can pancing

Wedding also have to keluar duit rite

Better to kahwin first then use combined income to finance your home purchase.

I also agree with most posters you should defer your purchase, coz you're getting yourself in a financial sqeeze...

nope..the calculation for house is like this..(this is what the maybank loan officer told me)

my nett sal - (whatever liabilities i have like car loan, credit card, bla bla bla) = $X amount of dollars

So from this $X amount of dollars, calculate maximum house loan like this

=> $X amount of dollars * 40% => Thats how much max bank can give u.

But come to think of it, perhaps, bank would or would not approve my loan (which i hope they dont).

why bet on bank not approving your loan??? you should decide for yourself if you want it or not mar or bank not approve your loan you can get back your deposit??

If the installment only take up say...20% of my income...ok i dont mind...but almost 1k..that i think is not wise....(now thx to u guys, i think im starting to think more sensibly now. I guess the marketing was good, they swayed me with the good splendid locations and all).

this formula is something new to me ....

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Added on June 9, 2008, 5:37 pmi have oready figured out how much ur salary range. my advice , don buy.

This post has been edited by yewkhuay: Jun 9 2008, 05:37 PM

hehehe..jgnla begitu

it really depends on location (bonus statement )... and your budget of course (2nd bonus statement ). no one knows your expenditure like yourself. if u feel comfortable with it go on n make that purchase. if the condo u intend to purchase is located near public transportation and commercial places i'd say its worth the consideration. that should be a plus factor for you to go ahead. budgeting is subjective to different individuals. optimists budgeting tends to lean on risks while pessimists budgeting takes into account the worst scenario.

my parent used to say. its better to buy a property while you're young, even if it stretches u a little cos its worth it.... if its a mistake u won't die (my personal quote)

I've made a decision, i think i will not buy the house, maybe we'll see 6 to 12 months how it goes. But the money, im allocating for the condo (initially) , im puting it in Fixed deposit / ASB....and we'll take it from there. I agree, better save money for a rainy day...besides, i cannot depend on my family if something screws up, even right now, they're depending on me

at least u have a target to live on now . in few months time u will be able to tell whether the rise in cost of living will affect u much.

another thing is , to save up at least 20% of the purchase price of the property, if not 30% or more.

There is no such thing as optimistic or pessimistic budgets... utter nonsense.

Dropping expenditures or inflating your allocation to come up with optimistic/pessimistic budgets is pointless you're only kidding yourself.

Budgets are a financial planning tool, based on a certain allocation of funds (typically fixed/predictable) and expenditure... its sole purpose is to keep your spending in check.

If your expenditure exceeds your funds you’re in the red and need to trim back.

My take on such advice is trust but verify it may not always be true and buying a house young limits your mobility/opportunity.

If I took my mums advice I would end up getting stuck in JB instead of KL where I'm currently employed.

Yes yes..Thank you again, for your sharp acumen sense. I am begining to see the light now. I think now i can breathe better...

...I think i will save up first in a) FD/ASB, b) view/study the market, and c) upgrade myself with prof certs and climb the corporate ladder (with whatever cash balance left after I put in savings).....

you've got a very good point there dude... thanks

@yewkhuay,
WaAaAaAa......

So, should I buy my house or not?! I'm due to sign S&P when the folks return from Thailand in mid Jun. Also visited the site over the weekend, the house is oredi up; with the roof remaining to be done; which means it'll probably be ready before 2010 *damn* !