Well, i think it depends u r buying from subsales or buying from developer (under construction). There are pros and cons for both the above:

Subsales:
1) Need 10% downpayment (well some 5% at least if you can get 95% loan)..
2) Prepare extra $$ for SnP Legal Fee, Stamp duty.. Get a ZEC home loan package to save on Legal fee.
3) You might not need to do renovation or even no need to install kitchen cabinet, fans, lights n rewiring as the previous owner already install them..
4) You can move in in a short time.. It is safer as you get as what you see.

From Developer:
1) Entry price. Some developer onli require 1k or 3k for downpayment and give lots of discount. Some even no need downpayment as they give you 10% discount, only need to pay booking fee. For my 1st apartment, I only pay 5% and the developer give me 5% discount, so I loan 90%.
2) Now most developer give free SnP and Stamp duty Fee.
3) Get a ZEC loan package and you are already a house owner with minimal $$.
4) Cons, you might risk the developer do not finish ur unit and got abandon.
5) You have to wait for the development to finish before moving in.
6) Upon completion, you hav to chase them to fix the defects and spend some amount for renovation, fan, light, curtain, grill, kitchen cabinet, n re-wiring.

OR.. Plan 2,

Buy together with your wife and share the cost.. better chance to secure a loan with combine income..

Weight your priority and happy shopping

This post has been edited by eugene jk: Feb 25 2009, 09:00 PM

Yea, saw this method before.. and its an alternative method for low downpayment.. However, it has to get thru the bank evaluator 1st before you can get your desired loan amount. You might apraised it RM 180k but the bank might only see it as RM 150k and only loan you RM135k.

I got a friend who even got worst case scenario. The market price of his apartment is RM150k but the bank evaluated it as only RM140k and only loan him RM126K. Banks are generous but they are cautious as well.

Good point there, yea.. apartments requires to pay maintenance fee also.. For a decent RM150k apartment, the fee can be some where between RM80 to RM150 permonth.

Other expences can be insurance either MRTA or MLTA..

I am almost having the same salary bracket but onli manage to get 2 prop now.. Respect ur maneuvers..

But I can imagine the countless sleepless night that you had those days ..

This post has been edited by eugene jk: Apr 12 2009, 03:05 PM