Visvanathan asked 10 years ago
Hi KC,
I have read your articles regarding money tips and it was really helpful for me. I would like to seek your advice in buying property since I’m a first time property buyer. I have my dream to have own property. My monthly salary is just RM1890. Is it possible my salary qualified to buy a property like flat or house in range 100k-200k? I do not have any other commitments to pay loan to bank and my credit background is clear. Please advice me to how could I can have my own property. Thanks.
KCLau Staff answered 10 years ago
Hi Visva,
You can aim for something that’s taking not more than 30% of your income commitment. In your case, will be around RM500/month. A house come with other expenses also like maintenance, assessment, insurance and quit rent, etc. Yes it is possible for you to buy a house.
Make use of the SRP scheme – 100% financing option and buy within your means.