Join our webinar this 10th or 11th June 2022【From Crash to Cash | Why now is the best time to invest.】Learn how to invest in 2 hours 👉 bit.ly/FCTCW2022
For first time buyer or owners, please do re-calculate your finances which able to pay all the following items before making the 'BIG' decision, and it's not just about servicing your bank loan (mortgage/ monthly installment): 1. Electricity Bill - Every month (depending on your usage) 2. Water Bill - Every month (depending on your usage) 3. Internet Bill - Once a month (depending on your plan) 4. Maintenance Fee / Sinking Fund - Once a month (with JMB) 5. Cukai Petak - Annually (For Strata Title Properties: Includes apartment, condo, townhouses ) 5. Cukai Tanah - Annually (For Landed) *Abolished in Sarawak only since 2016* 6. Cukai Pintu / Cukai Taksiran - Bi-Annually (All property owners) 7. Indah Water Bill - Bi-Annually; every 6-Months 8. Fire Insurance - Annually (Depending on your house loan provider / Purchase by MC paid through management fees) *a bit complicated to explain here* Please sum up all your personal expenses as well and you'll know your month end balance and can start to cry =')
on the other hand, those who scream that rental is good and "no bleeding", usually they hvnt take into consideration on the above that you mentioned too.. yes, rental can cover mortgage, but those cukai2 also can build up a sum...
The concept of using rental gain to pay your property installment is very risky now, many units are empty and even rented out may still can't pay enough of your installment, secondly those thinking of buying property to invest now is no longer a good idea as many more houses on sales, high price high interest but low return. Dun committed to buy property if you are not really really need it for staying, rent a unit sometimes is much more convenient and less tension
except the only tension renting is getting evicted by landlord,or no extension of tenancy....or if the house rented is being sold to another new owner!
Rent first. Young adult tend to explore different city to settle down. It's part of human nature. Migration is in the blood. Be it career or looking for a new life partner. Best wishes.
Rent before but somehow I dont have the sense of freedom to do what I want because the house is not mine. Also got a sense that i might ask to vacant the area if the owner suddenly decide to sell it. Occured to a person when we finally bought a subsale house which has someone still renting and he suddenly need to nego with us to stay longer while he finds a new place to relocate.
Stop making property as a investment!! One whole generation got screwed already by this .. houses should not be an investment but a place to live.. look at our grandparents able to afford houses with ease with just one income and the boomers start speculating and now their own kids with 5 figure income also so hard to buy a decent landed property in outer part of kl.. Best part when house price goes up it does not create job opportunity or directly contribute to the GDP it just makes the future generations more difficult to afford houses ... There is so many things people can invest and speculate but please do not uses houses or any other living stuff like food .. we need to think about the future and sustainable investment that grows and benefit the community. Please do not treat a house as commodity but a place of shelter for people , than only houses will be more affordable and reachable for everyone especially for your future kids unless you are multi millionaire than you can continue to be selfish and destroy or speculate other people future and your kids can flourish with your wealth...
Sorry but please don't hurt the earlier genuine property investors who have poured in their blood sweat and tears in buying. You will scare off the real property owner with the firepower to resurge the economy .. we are not suppose to help those who don't have financial capabilities in the first place because these would be the first to default when things turn south
Houses should not be an investment but a place to live? Oh, I'm sure economists all over the world will agree with your thinking. If landlords cannot buy house to rent out as investment then people who wants to rent live where?
@@hailyrizzo5428 well look around read more my friend housing as become less affordable around the world people are more homeless now than before hahaha because rich people speculate it for example look at your grand parents how the live their life's and look at the current generation... Nothing wrong to buy and rent but must have rent control maybe 3 percent increase a year and do not speculate the market and make sure the rich cannot access to affordable houses.... Free market as make things worst best example America more and more people are becoming homeless ... Unless you have better solution my friend to make houses more affordable and don't let the rich become more richer and the poor become poorer by the way look at Swiss they did a good job in making housing a place to live not commodity and majority of Swiss rent instead of buying thanks to good rent control... But hey I am just random stranger I believe you have a better solution do share please... I can't wait to hear from you...
@@blueflame712 Read more? I not only read more but experienced more. If you know the issue is complex then don't make simplistic statements. Also when people are condescending I don't get motivated to help them with solutions.
The fact that he brought up the point you can use the rent to pay for the installment shows it's smarter to buy than to rent. If you are renting then you might be paying for your landlord's bank instalments and helping him become the owner of the property you are staying in. Then you should ask yourself why couldn't you be the owner/landlord of the property in the first place and 'rent out to yourself' and help yourself pay off your own bank instalments. At the end of the day, it is all about the math. Is the property market in Malaysia an appreciating or depreciating asset, what is the difference between the rent and the bank instalments for the similar property, etc.
if u can buy a property that can rent out for nearly the same amount of money u pay your loan, then u have just made a great investment. that was possible 10 years ago but is it that easy to find such property nowdays? buying a property means tying up a significant amount of cash for many in the form of deposit and legal fees. which means u need to save up for quite some time. i think many will agree its kinda hard to save money nowdays.
If you don't married yet, don't even think about to own a property, because sometimes someone from the relationship needs to sacrifice so that both of them can get together as a family, if your financial is not that strong
The government needs to step in to discourage those who "invest" in property to make money to make sure those who genuinely buy a house to live in it do not struggle to own their first house, housing should be a human right not a financial commodity for rich wealthy people to make more money.
i think we should be more open up for these type of question so that ppl aware the average market salary range for their role/job. if mr money tv want can interview me for this question XD
If I could turn back my early days, I'll be the young man strategy to buy a unit and rent out rooms as beginner entry into property... the tenants lessen loan burdens and easily monitor asset.
Investment purpose? 😜 no Way . I rather rent 1 save my money 🤑 because life is unpredictable so I will not burden myself buying house. I will rather save first then buy. In that I got less problem .. I can move everywhere I like roaming here and there enjoy My blessings... Then can decide where to settle for golden ages 😜😜.. enjoy the life to the fullest extent. Children's will go on with their job and life , your spouse and you only going to live together at the end of the day. So don't burden myself yourself or anyone ☺️☺️😉. Enjoy 🤗🤗🤗
If you afford it better you buy house now. The interest is going up due to the recovery of economy and expected to increase more. Plus, the limit of land which increased the price of house too in future.
woah..tat guy who said "hopeless"-he's gonna do sooo well,tat in the future he's gonna be amused of his present condition n state of mind...oh yeah,nxt Q to ask public(asking public concept is interestingly spontaneous n unscripted)...1) will they invest in stock market,or r they familiar with it?,2) would they buy properties outside of Msia if can afford?,3) how about migrating to another country?4)do they wanna buy own car or rather use Grab or public transport?,maybe financial literacy surveys too...
great info and video…perhaps in next video you may ask public about stocks market in bursa?why they dont get involve and why they scared of stock market..
Having own my first home at 26, I doubt the current rental gains is suffice to cover the mortgage, more so on ur mgmt fees and sinking funds, BLR as well. And ur tenant come and go, so how do you assure rental gains is achievable to let you earn your next property is really “guru” talk.
It depends..to me at the moment I'm renting since I have no children's from past marriage..some asked why don't I buy a house..my answer is why I want to used all my epf to buy cash (since I'm on my way to withdraw all soon) and end up I have no cash and need to again work my a** up to survive living..and with no children's if I die my house going to be handed over to my siblings which I don't really prefer..so with a large amount of money I still can stay in a 300k over property with rental just 700 ringgit.. with large amount of money I can put it in unit trust and a few in stocks and taste a handsome dividends every year..with that dividends I can continue paying rental and somehow I can afford travelling my bucket list..even Elon Musk at one time didn't owned a house..haha..
If rental yield is not able to cover your mortage interests plus combat inflation then there might be no meaning in getting your own property in malaysia is you are financially savy. If the above fits in the renting thru out your life time will make more cents. I had done an exercise, current best mortage loan by Maybank islamic houzkey where mortage loan is at 2.88% plus some safety factor of 1.35% for floating interests rates. Following malaysia's inflation going forward should average around 4% not putting any potential outcome on a stablized currency. Not taking into account of your down payment amount earning interest rates from fixed deposit, bonds and not considered placing in other forms of investments for higher returns plus not considering maintenance and renovation, a rental yield 7 to 8.23% is the ideal figure as the lowest bench mark. Provided landlords has a huge pull of potential tennants (locals and foreigners)to canvas from. If your property is worth 850,000.00 you will be expecting 69,955.00 RM per year, which works out to be 5k plus plus ringgit per month to be visible for buying your own property in Malaysia.
Question should be about loan. Are loan easy get approval if salary 1500 to rm2500. For current situation?. 2)can I get the place I want ? Or due to salary need go hulu- Hulu area? 3) if buy House how about Quota Design by our ancient Ministry 4) if Rental how about house owner who always have specific race prefer?
Correct me if im wrong but on average u pay about 250% more to the bank as interest after 35 years. Meaning if u buy a house for 1m now, u will end up paying 2.5m to the bank after full tenure. Lets say u sold the house for 3.5m after u finish your installment. Is it worth to lock yourself into commitment for the gain?
Compared to the one who rents... At least he has that 3.5juta to live on after that. Whereas the one who rents still has nothing after that 35yrs. He had spent 35years of his life helping all his landlords to pay for their properties.
@@marktan8074 That is a poor comparison. For most cases, renting is generally more affordable than repaying mortgage installments. And you're assuming the amount saved over the period is not invested in other assets.
@@marktan8074 Appreciate the feedback bro. U also have to take into consideration where nowdays rental rate is lower than morgage payment which gives u more flexibility and cashflow. That money might be better spent elsewhere for better returns. Just giving out my point of view. 👍
@@khairulnizam922 Often money meant to be reinvested else where is burned and you end up with nothing. Of course not everyone gets burned but can safely say 80% will contribute their capital to the 20% and you will go back to square one crying why you didn't buy a property 30 years ago when you are near retirement age
Nak sedap hati cakap lah prefer menyewa..hakikatnya siapa yang suka menyewa..masing2 nak ada rumah sendiri..tapi..harga mampu lihat sahaja.. bertabahlah
I bought a property because my dad put down the down-payment at 28. At 38 I repaid him the down payment n at 42 I Discharge the prop. It just happened for me when it comes to home ownership.
If it were me , i would rent first(probably an apartment) and save up money before eventually buy/build a house in the future . I could see i have my own house when i 40-50 years old😅.
Depend on market price and what type of job I take. Plus I hope government head in the future are no ***** and make Malaysia like Zimbabwe or Sri langka Edit:Sri for bad language but sure hope my fear is not true
I don't think the rental as you mention could cover the monthly installment for some area.This from my personal opinion, minus maintenance fees I would say its partly covered, maybe like 60%.Unless is rsk homes, where buy it cash and rent out sure makes money.
If you are young then maybe still can afford to rent and move around. But if after 55? Will anyone willing to rent to old people and risk their property?
Too many Malaysian version of Robbert Kiyosaki. No wonder housing price increase in few years. Once you had cashflow, you buy another and another. For me if you wanna buy a house=wait for global recession (idk if Malaysia affected) My salary barely even live to pay rent (still live with parents) because i had a car, medical insurance and all necessity car related expenses. Live in KL with rm1500-rm2000 are enough for SPM level. For degree and above you need rm3000 based on inflation. Now gig economy now able to benefit all workers
@@ect8565 i have to worry myself, my salary still barely reach rm2k (overworked 5 and a half days) and im about to be 30 next year. I had college & university and a car debt. Im kinda safe sitting with my parent's house but my comfort zone runs out if my parent decides to migrate outside of KL if they are lack of money in few years. My path of choice is to upskill and learn something new or give up and join any job that can provide better salary. This is why many people would go for gig economy because their effort counts.
The truth : property nearest KL is expensive not just for young gen but also older people that why still got many people can hv own house even their age toward 40-50y old 🥱 buy ur first house for investment is good way for ensure cash flows so next can afford house for ur own stay
I think u need to ask given a situation like if u have money or stable income of 5k for example, wud u rent or buy. I bet the answers will be different for everyone esp the one that say hopeless 🥲.
