Basically most youngster rush rush wanna buy a house coz dun wanna pay rent. That was my thinking in the earlier days (why pay rent for something that doesn't belong to you?) which landed me into a big financial crisis.

Luckily now, I'm out of it and it started to generate income.

map san My snakes are doing fine here, don't worry, I will not release it to kanasai

Basically most youngster rush rush wanna buy a house coz dun wanna pay rent. That was my thinking in the earlier days (why pay rent for something that doesn't belong to you?) which landed me into a big financial crisis.

Luckily now, I'm out of it and it started to generate income. Although there's income from rent, but owner always bear risk because the loan is under the owner's name, not tenant.

eh sifu, cerita lah sikit in detail so that we could all learn

Hai, Suiteng, still angry meh ...

share your experience with freshie like me la..    

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Added on August 20, 2008, 7:37 pm
I second that ! 

1st of all, i m not sifu, i m just happen to have a lil more experience than u in buying property.
you are la, anyone better than me is my sifu 

Here is the thing u have to do , REGARDLESS which property u target now as an investment, and ur mind is clear tht it is an investment, U DO NOT take rental tht only partially cover the loan instalment, tht is called subsidizing tenants to stay ur place while taking risk on ur finance. ur money could serve u better in FD / UT.
I agreed

and , 3months reserve is not enuf, targetting a reserve is a NO, reserve of min 6months is a MUST. b4 u have this, forget about any investment, u r risking ur LIFE.

DO some maths here shall we ? say u earn 3K now and u get a property tht cost u monthly instalment of 1200 inclusive of maintanence fee, u cannot get a car loan with ur current financial standing in 2yrs. even if u managed to rent ur unit out to cover ur instalment, u still need to save up d/payment for ur car in 2yrs, Notice how ur money leave ur account into ur house d/payment and  legal fees, u have 3months reserve as u TARGET, then u have to save 2yrs for car d/payment.

then like u say having ur family in 5yrs time with another new place (probably a better n more expensive) , take out ur 2yrs saved for car d/payment, u have now another 3yrs to work on this new house n new family. It is possible, the question here is : How much do u need to save in the next 5yrs ? How much ur income should catch up to make sure ur savings are always enuf for the every 2-3yrs big spending? What kinda life u will be living for the next 5yrs to have ur targets achieved?

Looks like I have to delay my car plan if I wana buy a house now. Well, as for my family house, Im planning to get my future wife in ...hehe 

If u don't have any answer for the questions or u have answers tht u don't like to face, u might wanto reconsider ur plan or work out another plan.

the investment tht u r talking here is big n low liquidity, u might wanto find out wat other investment tht can actually gives u similiar return but lower risk n higher flexibility yet manageable.

aha! What do you suggest ?[COLOR=red]

I'm giving my point. You're making assumption on me. Do you want me to list out the number of properties I have in hand? Becareful of the things you say if you're asking for advice.

Hi, really sick of renting house! Wana buy house ASAP !

Price of the Property:  RM165000

Personal Finance:
Salary:RM3000 (able to save RM1200 - RM1500 every month)
EPF: RM 10000
Savings: RM12000

sui teng sannn  and tell them about the snakes!

well, before buy property, you need to ask yourself if you have enough funds. having insufficient money in the long run happens alot. there's a reason why "bank lelong" exists.

I sympathise, as I was in your situation once.  But you don't have enough RM to buy a house-lah. Assuming you get 90% margin of finance (and that's a big IF ... if I'm not mistaken, AIA/ING offers 80% or 85% MOF only), you need to fork out RM16,500.  Don't forget about S&P legal fees, which should be around RM4k+. And what about furnishing and other misc expenses?

And there's valuation. Valuers are not always logical ... what if he values your house at only RM150k?

If you proceed to buy a house now, you risk losing your deposit?

I sympathise, as I was in your situation once.  But you don't have enough RM to buy a house-lah. Assuming you get 90% margin of finance (and that's a big IF ... if I'm not mistaken, AIA/ING offers 80% or 85% MOF only), you need to fork out RM16,500.  Don't forget about S&P legal fees, which should be around RM4k+. And what about furnishing and other misc expenses?

And there's valuation. Valuers are not always logical ... what if he values your house at only RM150k?

If you proceed to buy a house now, you risk losing your deposit.

mate, u r back 

so did u ended up getting a place?

Pai, where is Kelana Puteri condo is it near Giant?

Anyone thought of Subang Jaya. like Tiaraville. its near college and KTM.
Good returns there?