Can you find affordable property in KL any more? And other ramblings
Well, that depends on your definition of "affordable" coupled with "liveable", isn't it?
You can still get flats and apartment units for about 120k or 150k.. that means you need about RM500 to RM600 per month for repayment.
At that price point, you *could* possibly get a 95% or 100% loan - usually from Islamic financing - especially from Bank Islam, Bank Rakyat and so on.
So you hardly need any money down. Of course, you still need SOME money but if you're really serious about it then surely you can save it up?
During my first job, many many years ago, my starting pay was RM1,700 (very decent already considering most of my peers were getting RM1,200) and I was staying with family - so my expenses were not very high, just transport and lunch - I managed to save up 3,000 in a few months. My only indulgence at the time was to get a couple of CDs a month - back then at RM40 each, expensive O! My bus fare per day was 50 sen minibus PJ to KL, then another 90 to my office (Intrakota, so posh, got aircond) and return - so that's RM2.80 a day! Ha ... good times
Anyway, I wasn't saving up for property though at that time, I was saving up to do my Masters degree and after a couple of years - I had about half the fees saved up (about 20k) then my family said they'd sponsor the other half so that was nice. Yes, I am very grateful and thankful that I have had several advantages that not everyone has had.
Nonetheless, I'm just saying that one can save up a specific sum if one puts their mind to it.
Well, after the studies, my finances went a bit haywire - you know, hormones, spending, dating and what-not.
Looking back, after digging myself out of those problems (they were not very BIG problems but still ... could have avoided them in retrospect), it was a good learning experience.
So here I am, I would say in a fairly decent place - job is extremely busy, challenging but satisfying in the sense that I feel I am making a real difference - so that's good. Pay is not bad, can't complain. Am building up liquidity to a level that I've not had before, so am happy and grateful about it.
EPF and house value growing nicely.
So now, the way I see it, the only "problems" I have are 'happy problems' like how should I invest my money? What to eat for dinner? Where to go for holiday?
I hope that doesn't sound arrogant but I know I haven't really struggled all that hard compared to other people, but I guess everyone has their own journey.
Oops! So late already - meant to go to bed an hour ago! Yikes! Busy day tomorrow .. better get some rest.
You can still get flats and apartment units for about 120k or 150k.. that means you need about RM500 to RM600 per month for repayment.
At that price point, you *could* possibly get a 95% or 100% loan - usually from Islamic financing - especially from Bank Islam, Bank Rakyat and so on.
So you hardly need any money down. Of course, you still need SOME money but if you're really serious about it then surely you can save it up?
During my first job, many many years ago, my starting pay was RM1,700 (very decent already considering most of my peers were getting RM1,200) and I was staying with family - so my expenses were not very high, just transport and lunch - I managed to save up 3,000 in a few months. My only indulgence at the time was to get a couple of CDs a month - back then at RM40 each, expensive O! My bus fare per day was 50 sen minibus PJ to KL, then another 90 to my office (Intrakota, so posh, got aircond) and return - so that's RM2.80 a day! Ha ... good times
Anyway, I wasn't saving up for property though at that time, I was saving up to do my Masters degree and after a couple of years - I had about half the fees saved up (about 20k) then my family said they'd sponsor the other half so that was nice. Yes, I am very grateful and thankful that I have had several advantages that not everyone has had.
Nonetheless, I'm just saying that one can save up a specific sum if one puts their mind to it.
Well, after the studies, my finances went a bit haywire - you know, hormones, spending, dating and what-not.
Looking back, after digging myself out of those problems (they were not very BIG problems but still ... could have avoided them in retrospect), it was a good learning experience.
So here I am, I would say in a fairly decent place - job is extremely busy, challenging but satisfying in the sense that I feel I am making a real difference - so that's good. Pay is not bad, can't complain. Am building up liquidity to a level that I've not had before, so am happy and grateful about it.
EPF and house value growing nicely.
So now, the way I see it, the only "problems" I have are 'happy problems' like how should I invest my money? What to eat for dinner? Where to go for holiday?
I hope that doesn't sound arrogant but I know I haven't really struggled all that hard compared to other people, but I guess everyone has their own journey.
Oops! So late already - meant to go to bed an hour ago! Yikes! Busy day tomorrow .. better get some rest.
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