hi guy, need some opinion here,

if

one month saving 1.2k, then 5 year later buy house

or

now buy house, one month pay loan 1.2k?

buy house now......there's no regret buying a house. It's an investment for later life. go for it

No point saving...even FD is at what? 3%? now, might as well buy if you have the cash

buy the house.... its becomes harder to secure a good location in the future.

now fd is just 2.3%

Better to buy now. It is getting difficult to source for good location and not to mention good prices in the future. Go for it since u have the money now.

my "evergreen" advise :


Anytime is a good time to buy provided you buy at the right price

This is ofcourse provided you have some comfoort level of job security and decent emergency savings

NTX,

Until you have at least 6 months worth of emergency fund, do not buy. Or else, you may not be able to keep the house if you lose income for a while.

Dreamer

not really have 6 month... but around 2 month..

i abit scare also...that y ask for opinion here

ntx, save some money 1st. Property prices wont go up by 10% next week, so u have ample time.

Learn all u can while u save the capital, start shortlisting what u want to buy and the bargain value price u r willing to pay when opportunity arrises.

Then can forget about buying house first.

The key criteria of this kind of decision is the cashflow situation of individual. You must ensure you are enable to continue to pay the housing loan, while have adequate of emergency saving.

TS, do you have a target property already?

If not, now is the best time to do survey first meanwhile save the money to your savings a/c to earn little interest

I am also facing something similar to TS case. But for me my job security is at a rather high risk. I have calculated and I can tahan for 8 months without job though. OK to proceed?

Personally, if i were in ur shoes, I'll proceed if both of the following conditions are met :

1. You are buying undervalued property, min 10% below market value. Try to nego a zero down deal, and use as minimal capital posible. This way, you preserve your capital and you can last much longer than just 8 months if u looose your job.

2. The property gives you nearly or positive cashflow. That way you monthly commitments aint that high, and relatively sustainable over substancial period of time.

Good luck

the BEST time to buy a house is always 'YESTERDAY'
only if your cash flow is enough
let me share my experience here...
if i were to buy a house 2 years earlier, i can get an End-lot instead of getting an Intermediate-lot now
and those decent landed prop with 2 sty have hit the 'half-a-mil' price tag already... mind me, it's 22*70 only!!!

the longer u wait, u may have to spend 'half-a-mil' just for a condo, maybe.

This post has been edited by lelynx: Mar 1 2009, 03:53 PM

lelynx
I am 100% agree with you, I will give my very own example,
I plan to buy house in Shah Alam back to 2007 cost about 300k
but after listing to ll friends and here and there i wait almost 1 year guess what i have to pay 400 for same area same size,
But still i am very happy with what i done, a bit late but correct,

The bolded part is the key criteria and most influential factor.

Cashflow is the ultimate factor enable one to buy the property or taking up the home loan. Not yesterday or last month or tomorrow. Nobody want to wait to buy the property if really interested and have enough cash for it.

You don't want to take up the loan then struggling to pay for it every month, right? While if unable to do so, then ended up the house belonged to the bank.

---

Added on March 1, 2009, 7:41 pmspot on, its pointless even if you grab a bargain but could not afford to pay for it in the 1st place

This post has been edited by ah_suknat: Mar 1 2009, 07:52 PM

we can only share our experience here...
let the poster to weight his/her financial ability and decide...
for sure, 1.2k can surely get a decent house nowadays...

hehe...1.2k here i mean is include all, house loan, electrick, water, service charge etc...