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 saving or buy now?

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Pai
post Feb 28 2009, 12:46 PM

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From: 1Malaysia



QUOTE(NTX @ Feb 28 2009, 10:17 AM)
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?
notworthy.gif  notworthy.gif  notworthy.gif
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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 smile.gif
Pai
post Feb 28 2009, 04:06 PM

~ Billionaire in training ~
*******
Senior Member
3,318 posts

Joined: Dec 2004
From: 1Malaysia



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.
Pai
post Mar 1 2009, 02:38 PM

~ Billionaire in training ~
*******
Senior Member
3,318 posts

Joined: Dec 2004
From: 1Malaysia



QUOTE(Sonic boomer @ Mar 1 2009, 10:16 AM)
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?
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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 wink.gif

 

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