Interest rate 5.99%?
I guess it is those fixed rate by AIA?

Anyway, the monthly installment is RM900
Your salary is RM3000.

RM900/3000 = 30%
If you do not have other commitments, i believe you should be able to get your loan approved easily.

1st of all u need to get a credit card for 3 months if u dont have other commitment coz they need it for ur credit evaluation CRISS.

Is a good investment as house price tends to appreciate(in most case) compare to car which is a definite depreciation

With a house u think u can rent out some rooms to cover ur rent if it is too taxing

if u r interested in getting housing loan kindly contact me as i provide below the market rate loan

As a financial adviser (not qualified yet in msia)

U should aim upgrowing towns for a better house compare to old 2nd hand house. And with ur savings capability i advice you to go for more exp house reason being

When u r saving ur $$ in bank basically u r losing money bit by bit, even though you are earning FD type of interest u r still losing money as inflation of msia is recorded on average of 6-7% p.a. and for this quarter in msia is it reported at 7% already. As inflation eats up the VALUE of the amount of your SAVINGS and INTEREST is to soften ur depreciation of ur value for your money.

Why target new house instead of 2nd hand house?
New house sold by developer are generally in its basic price and it will normally appreciate due to real estate agents and property investment going in. Where else the price of 2nd hand house are normally being mark-up to up-to-date market value of the house or worst be mark up by ridiculous real estate agents(if u r buying from them most likely this will happen)

Things to look at for a good house that will appreciate
1. Surrounding infrastructure (roads, commercial areas, school, hospitals, police stations, petrol, the condition of the utility surrounding the area.
2. People (surrounding houses are low cost or medium cost or luxury bunglow, security and ur neighborhood basically)
3. Price (survey the median price for the property similar to yours)
4. Developer (if possible buy from prominent developer e.g Sime Darby, IOI, PKNS) as their property sell like hot cakes most of the time (due to strategic planning) which also means ur property will appreciate and fetch good rental returns

Some tips of uprising property price (AGGRESIVE)

Shah Alam (sek 7) Bandar Seri Permaisuri Puchong, Kota Damansara

Ur MOR (margin of repayment or repayment capability) can easily get a 250k loan approved

I would suggest u wait for another bonus before buying a house as there are many hidden costs will incur

e.g. Lawyer fee, renovation, furniture, stamping which will cost up to 10k (depending on the price of ur property) normally it is around there

NOTE: Things to look out for when getting loan.

When u plan to get a housing loan (given u r going to hold the house for 5 or more years) opt for those that provide FREE LAWYER FEE (normally they will tell u ZEC (zero entry cost) or FMC (free moving cost)) When they offer u such MAKE SURE THAT IT IS PAID BY THE BANK OR FINANCIAL INSTITUTION AND NOT ABSORBED INTO UR LOAN AS IF IT IS ABSORB U HAVE TO PAY INTEREST FOR THAT AS WELL WHICH CAN COST A BOMB!!!

please pay attention to abovementioned note

if they give u bullshyt about no1 pay for the lawyer fee go for other bank/financial institution

Kanasai, mind sharing with us where is this place?

Was in the same situation as you when I looked for my 1st property(was looking for a < 180k property) almost 3 years ago, perhaps I could share with you what I knew.

buying for own use or rental/investment?
If own use, the place you mentioned (University station) may not be a great place to stay. The LRT is very convenient anyway.
The units nearby that area ?vista is very old. But cant complain much as the price is cheap (160k+)

i think i know which ad you saw. but is it for your own stay or for investment? from the headline you sound like you're buying to stay but there are mentions of rental, so i'm a little bit confused.

personally for me, vista angkasa is not a good place for own stay, have you visited any units there? if you getting it for investment purposes i think you'll more likely attract students rather than families, but that's your choice if you want to choose your tenants.

btw, 5.99% should be AIA, good if you're looking for fixed rate whole tenure. i think alliance bank offers a better deal, but your preference matters most really. since you're browsing iproperty already, which don't you search for it and compare?

Depends on the apartment's condition. It is a good buy if it's well maintained. Usually properties near LRT amenities will have good rental and they usually have a better price tag when it comes to selling.

Based on your financial condition, I think you should be able to support. Don't forget to take the hidden cost, maintenance fees, etc into account.

All the best to you!

Once the lease expires, the land reverts to the state. The owner will then have to apply for a renewal of the lease.

About depreciation, because it's lease hold doesnt mean the property actual market value will drop.

Bro, seriously think u shouldnt go for this Vista, its just teribly mantained and price will hardly appreciate given its current condition and management office. Suggest you topup a bit and go for Panorama studios(rent is RM1.1k-1.5k) OR the 3bed hillpark instead. At least these are condo's with decent  facilities, security and most important, future capital gains potential.

Good luck hunting 

my advice is , don't buy a property just bcoz u wanto get rid of renting house. by renting , u get to stay in a house cheaper than instalment , free of debt , can change house every yr if u wanto, no need to worry about BLR fluctuation, least worry about monthly maintenance fee if any and tenants problem. there are also alot of fees involved like fire insurance n assessment.

looka at the money u r paying for legal fees n S&P n bank interest , this amount of money can probably pay ur 2-3yr rental for room, allowing u to save enuf to buy a house for ur permanent stay in 3yrs time.

btw, i m still renting a  landed house worth 600K while paying rental of rm230 for my own room, at the same time receiving rental from the apartment i rented out.

erm, there is no best timing to buy a house, get ur intention clear : y u wanto buy a property? investment or self stay ? for investment purpose , u can find out how n where n which to buy for make ur money work for u. for permanent stay, u wanto get a nice one at good location , which at the moment, might not be possible.

U might also wanto consider, u r able to save 1200-1500/m now, wat other options do u have to make sure these money grow so tht ur goal to get a good place for own stay will come true asap. and u also wanto consider , even though u can afford the apartment now, IF anything happen to u, do u have a reserve fund of 6-12months tht support ur expenses n instalment. if u havent got a car, is buying a car in ur 3-5yrs plan ?

About ur plan, looking at the property tittle n age, i won't buy, even at 120K. if u wanto buy for investment , when is ur exit ?

I might give u too much considerations to think, but if u choose tht u wanto buy tht property , i will also support u by coaching u how to work towards tht goal.

Buying house just because sick of rent? You've gotta re-evaluate your words.

Buy house needs downpayment. You have the $$?

After buy house, maybe you need to wait for construction. Even if you buy completed property, you wait for transfer. You have the time?

Rent out rooms earn some $$. How long it take for you to earn back your dp?

Salary - housing loan = balance. Enough?

You might want to ask the management to apply a renewal for the lease since they have 69years to go. Check with the management office before buying. I think it will cost a couple hundreds for ringgit for the renewal. Not so sure myself. You better check.

I don't think the property will depreciate alot because it is leasehold. Many properties in Mutiara Damansara are leasehold but they are appreciating alot. But 1 thing for sure is Freehold property can sell higher and easier.

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Added on August 18, 2008, 1:49 pm

If the management is bad, I suggest you to look for other options. Pai was right.

Is your office nearby vista? If you dont have vehicle and your salary can afford the home loan then i should say vista is a good buy.

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.

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?