hi everyone....please advice me, is it worth to buy house now? during this chaotic (or could we say 'unstable..?') political & economic environment.... . i'm planning to buy house (kajang area) for own stay but advised by someone (financial planner) to hold it on for a while (not sure why...) but some people said that better fast in buying house as fast as all the prices are going up... ...anything i should know...? BLR...gov tax...new house...secondary house...etc..?

Everything going up, including raw materials and labor cost. What do you said?

You may picked a fixed rate instead of relying on the floating of BLR.

The most important thing is may you secure you job????

i would say better buy a completed property now as soon as possible, construction cost is expected to keep rising until 2009, developer will have no choice but to raise price, renovation cost will also increase, if you have the budget and can find a good property, why not buy now. I just buy one last week, still waiting for Public Bank to approve my loan application, better play it safe and go for fixed rate.

Hmm...if u r interested, i have a SEMI-D house 40*80, freehold in Kajang New Town, Prima Saujana. Developer is Prima Paramount. House is selling for 480k. Its brand new. PM me if u r interested. Strata Title oredi out.

If u ask me whether to buy a hse now....hard to say la. Some say prices will keep goin up because of inflation and raw materials, some say recession, price will go down. Depends lor i guess....50/50.

This post has been edited by mIssfROGY: Jun 29 2008, 01:32 AM

I think most likely "enter recession" periodssssssssss

and get down down down..as for the materials pricing, there is another way of countering it...

but again, it depend on how govt react!

if u need a house , y now buy now and stop worrying about recession, worry about urself whether u wil be targeted if there is recession and budget ur self properly for the house u buy.

BLR is going up soon

now gotta see which bank gonna kick it first

agree with you, developers have already hinted that they have to increase prices by 30% soon. even completed property are taking this opportunity to increase the prices, i was talking to a seller a few days ago, compared to the price 2 months ago, he has already increase his price by 10 - 15K

I have experience the same thing... sigh... increase by 10% after the fuel hike announcement. Only in 1 month, the price is so much different

on top of that , i want to add that a lot of house owner have decided to rent their property rather sell now it in anticipation of the rising cost property.

yea correct...if i cannot sell at the price i wan, i rather rent out. More people wanna rent also since cannot afford to buy houses.

If You Have Budget, Yes..

It's Good Time To Buy A House Or Shoplot

Once Petrol Price Increased.. Everything Will Increase Too..
And Also The Construction Meterials Keep Growing..

fa-tin,

1) Can you afford to pay the house loan if you lose income for long period of time??

2) Do you know what is the RIGHT price to buy your house?? If you do not know, you should not buy. Who cares whether the house price is going up or down?? You buying a house to stay. So, you NEED to know what you can afford and where you should stay. Whether the house price is going up or down is irrelevant. Be patient. Study first.

3) Buy completed house. The developer may go bankrupt and leave you with half completed house and you still have to pay the house loan.

Dreamer

This post has been edited by dreamer101: Jun 29 2008, 07:30 PM

You should know that banks are now extra careful about giving out loans. They take longer time to process your application, offer smaller loan amount than what you requested, less willing to give good rates and so on ... I should know as I am in the middle of buying a property.

@Moneylust,
Have U had issues getting that loan?

Should Be Ok With Him..

If He Knew He Can't Get Loan, No Point He Open Thread For Opinion

Tinkerbel,

With recession expected, the bankers are now worried about non-performing loans and they expect to BLR to rise by at least 1%. Hence, they have been tightening the screws on new loan applicants.

The offer letters have been slow in coming ... so I'm a bit concerned and will be applying to additional banks this week as a precaution. But if I, with a squeaky clean financial record, can't get a loan, 90% of Malaysians won't be able to get one.

But I'll advise those thinking of buying a house in this uncertain times to think twice.

having high standard in approving loan is a good thing, at least we can prevent a sub prime crisis like in US. giving ppl loan to buy house and car they cannot afford is not helping them.

Then you better pray pray that PBB doesn't reject your loan application or gave no response even after 4 weeks (as alleged by another forumer) or give you a bad offer (you do know that banks are not obligated to give you the published or promised rates, right?). I hope you applied to more than one bank

haha, last week i apply to like 7-8 bank, still waiting for result, how long you wait for the reply?