When do you plan to move out?

[simplythebest]

Those of you who are working, i know where most of you are still staying with your parents, when do you think is the right time to move out? When you plan to married? When you earn monthly income minimum...?

My rough estimated cost for renovating a house and buying all essential things for home.

Renovation = RM10K

Home tools/Kitchen tools/Bathroom and etc = RM 20K

The cost above standard is not too low and not too high, just moderate.

So must have at least RM30K in bank before buying a new house, that is only part 1.

Part 2 = RM20K for emergency use, to use when it is needed for like cost of repairing (i.e washing machine, plumbing, electrical).

So everything RM50K.

Yea, if I have RM50K in bank, i'll get a new house.

Wanna ask about home loan. Maximum years of loan for now is 25 years or 30 years? Let's say the house cost RM300,000 or RM400,000. I will pick maximum years to loan the house, how much should I pay monthly? What is the interest rate? No experience here.

 

[mrbear]

for me i dont plan to move out. bcoz my family consist of 3. my mom,dad and me.

so if im married,with kids. im staying with my parents. they are old,so they just need me to be with them.

 

[TRD16v]

andrew,
For home loan u can alwis go to many banks and look for information. As for moving out, I'm also the eldest in family so i have only one sister and I will take care both my parents and my wife stays wif me also after married as well.


You can pay maximum for the home loan but it also depends how much you can fork out as downpayment and other misc fees included as well. There are jes simply a lot of package to choose from each individual various banks. Buying house, moving in, cost of renovation, furniture, utilities to pay, loan to settle, etc.. will be a lot for you to considered and how much u r ready for it.


Jes my 2 cents...





Regards,
Mike

 

[acbc]

As for me, I will move out once my apartment is ready (after renovation) but only for weekends. Weekdays, I will still live with my parents. My dad is like a business planner to me (helping me to plan my new business properly).

Of course, I will need to find a GF or wife by the time I move out... otherwise, makes no sense living alone.

 

[escaflowne]

For me..when i am financially ready for it,I will move out...

 

[BlackSamurai]

STB, max loan period is depending on your age. For example, if you were 60 yrs-old, bank just won't give you 30 years loan. (bank never expect you to pay your loan at age 90)

there are many packages available out there for housing loan, each bank will have few packages for you to choose. Some bank offer fix rate, some offer BLR minus certain percentage. It's like different choc flavour in the market.

Just read carefully the term, some bank offer good rate at first few year and they charge higher for subsequent year. Anyhow unlike car loan, you can do re-finance. Switch when ever you find a better package (terms and condition apply).

If you really interest,have a chat with some loan officer, they will be very happy to serve you. I have friend who is doing mortgage? a pretty lady, she might can offer you good rate.
happy shopping.

 

[Crashvenom]

Those of you who are working, i know where most of you are still staying with your parents, when do you think is the right time to move out? When you plan to married? When you earn monthly income minimum...?

My rough estimated cost for renovating a house and buying all essential things for home.

Renovation = RM10K

Home tools/Kitchen tools/Bathroom and etc = RM 20K

The cost above standard is not too low and not too high, just moderate.

So must have at least RM30K in bank before buying a new house, that is only part 1.

Part 2 = RM20K for emergency use, to use when it is needed for like cost of repairing (i.e washing machine, plumbing, electrical).

So everything RM50K.

Yea, if I have RM50K in bank, i'll get a new house.

Wanna ask about home loan. Maximum years of loan for now is 25 years or 30 years? Let's say the house cost RM300,000 or RM400,000. I will pick maximum years to loan the house, how much should I pay monthly? What is the interest rate? No experience here.

bro, here it goes. i just move out so i can give u a little guide.

first, when getting a new house, you check if legal fee is included.
*legal fee cost a lot for a 300k house. roughly around 10k++ just for that.

Also at least a 10% of downpayment means 300k = 30k

renovations + painting, this part is the most stressing, normally it goes more
than you planned.

as for me, only furniture plus appliances and kitchen already cost around
70k++ (well this is always flexi, depend on your choice of furniture)

upfront for maintenance (i bought a condominium), TNB, and Indah water,
installing astro and also house tax etc.

and bro, my house is only 1300sf and it already almost killed me.
I think in KL a 300k you can get a bigger decent landed and you think 50k
cash is good enough for it? there is a lot of cost that is almost invisible to
you. I had this dilemma 2 months ago i keep...

*wtf? this also cost that much? wtf? spent so much and i see nothing?
:) but it's over now. so i'm a stress free man now. i had 2 of the biggest
thing done within the last 3 months.. marriage and house. I'm a happy man.

yet, i normally sleep at mum place. it's the feelin you have with the room you
grown up with. I just go back on weekend for a swim and when i need the
moment alone.

Bro, spend the 50k well. The amount is nothing when it comes to houses or
marriage. Wish you luck. All da best.

 

[mu24]

shit man, this is scary.
I'm considered fortunate cuz my dad bought us a house each.

So i dont have to worry so much about that, but looking at the furniture and renovation and all those expenses, i dont think its easy to shift out and make your own nest.

 

[Crashvenom]

you should be glad that your dad already have that figured for you
next year father day, get him a OSIM or OGAWA lo. Lolz.

 

[mu24]

I plan to...wanna get the symphony but i think i'll be the one on it most of the time haha

 

[BlackSamurai]

do not forget about the half yearly cukai pintu.

 

[simplythebest]

Mike Gurubesar: My case is, my both parents most likely will be staying at the same old house, so in future, if I have more money, i will do some renovation to the old house, like new paint, new gate, new roof and etc. :cool:

Still got misc fees? All this while, i thought buying a house is just like buying a car, didn't know there are so many procedures need to go through.

BlackSamurai: About the age, like what you said is true also. Or else, everyone would want to buy a house after they retired, the loan haven't finish paying, write a note telling them, come and get from my coffin. :tongue:

CrashVenom: Congrats to your new home. Hmm, what is legal fee? RM10K legal fee is alot, that fee goes to the middleman is it? Oh so the minimum requirement for downpayment is 10% of the house price.

You spent RM70K just to decorate the apartment? That's alot.., if you have the cash, why not right?. :cool:

I'm the kind of person who do things slowly and patient, not being lazy like delaying the task, is like checking the situation properly, before deciding what to do.

Even if I have the money, i always prepare some cash for emergency use, i don't want to screw things up just because I couldn't pay up some fees.

So I think RM50K is just nice to get all the important things first. Actually, in my rough calculation with RM50K, i think I can decorate the house very nice. But of course no floor tiling those kind of high class stuff. Those tiles also cannot use those high quality texture type, to do the whole house using good tiles, wonder how much would that cost. :tongue:

 

[TRD16v]

andrew,
but i duno la normally for chinese culture is 1st house susah2 beli from last time not for sale loh.. den u got money invest in new house as ur future investment and u stayed wif ur wife liao.. yep buying house can say ok la procedure likewise same like buying car onli dat house gotto prepare more huge $$$ den car so couple of additional steps to follow onli.. de rest once got approval ok liao.. some package offer by bank such as RHB home loan has 3 options.. AFAIK, some loan the lawyer fees all they pay for u but on ur interest side BLR (Base Lending Rate + ? %) will be higher else if u had to settle ur own lawyers and misc fees den BLR + ? % will be lower.. so meaning de bank offers u package of give n take loh.. so its up to u to choose it liao.. heehehehehe! So far i can say SBB bank homeloan package is a good deal..





Regards,
Mike

 

[zephyr3d]

As for me, I will move out once my apartment is ready (after renovation) but only for weekends. Weekdays, I will still live with my parents. My dad is like a business planner to me (helping me to plan my new business properly).

Of course, I will need to find a GF or wife by the time I move out... otherwise, makes no sense living alone.

aaron... why no sense?

imagine all the chickadeez u can bring to your apartment? heh he hheh....

 

[zephyr3d]

bro, here it goes. i just move out so i can give u a little guide.

first, when getting a new house, you check if legal fee is included.
*legal fee cost a lot for a 300k house. roughly around 10k++ just for that.

Also at least a 10% of downpayment means 300k = 30k

renovations + painting, this part is the most stressing, normally it goes more
than you planned.

as for me, only furniture plus appliances and kitchen already cost around
70k++ (well this is always flexi, depend on your choice of furniture)

upfront for maintenance (i bought a condominium), TNB, and Indah water,
installing astro and also house tax etc.

and bro, my house is only 1300sf and it already almost killed me.
I think in KL a 300k you can get a bigger decent landed and you think 50k
cash is good enough for it? there is a lot of cost that is almost invisible to
you. I had this dilemma 2 months ago i keep...

*wtf? this also cost that much? wtf? spent so much and i see nothing?
:) but it's over now. so i'm a stress free man now. i had 2 of the biggest
thing done within the last 3 months.. marriage and house. I'm a happy man.

yet, i normally sleep at mum place. it's the feelin you have with the room you
grown up with. I just go back on weekend for a swim and when i need the
moment alone.

Bro, spend the 50k well. The amount is nothing when it comes to houses or
marriage. Wish you luck. All da best.

crash... 300k can't give u a big house in KL... ;)

depending on the area in KL... 1300sqf would range fr 200k to 300k... and the build up area isn't big

Prices appreciated lately. I just called the real estate agent n checked my house (bout 1800sqf)... old house la.. but got minor renovation... worth at least 400k.. if stock ones probably lower than 400k. But 400k... if buy new terrace house.. can't really find one wit big land... i see like bandar kinrara... can only put 1 car or max 2... my house can still fit in 3 sedan cars.


i live at OUG by the way... so it isnt so highclass or indemand place... so if talk bout somewhere up class or closer to KL city... wow.. mamamia.. get ready 1/2 million or more.. at least.

did suggested to my dad to sell off our house... then i pay for the installment for a semi-D at sri petaling..... but then again.... kinda sentimental wit our old house... maybe later la..

 

[Tohsan]

when do you think is the right time to move out?
There is no right time, as long as you are ready financially anytime is a good time.

When you plan to married?
That will depend on yourself, you can get married at 50 y.o but by the time your kid become 21 y.o definately u will be very very old.

When you earn monthly income minimum...?
This figures is subjective everyone is different, but if u already married I guess at least you need RM4k to RM5k to settle a lot of things like homeloan,car loan,credit card, children education,petrol expenses,daily expenses for food, water bill,electricity bill, telephone bill,hobby pursuit etc

My rough estimated cost for renovating a house and buying all essential things for home.

Renovation = RM10K
This renovation amount is too low, everything increase in price and in construction line all the material already increase more than 10 times since 2 years back.

Home tools/Kitchen tools/Bathroom and etc = RM 20K
This amount only qualify for you to go for one option oni either its for kitchen cabinets n tools or others not all three one shot.

The cost above standard is not too low and not too high, just moderate.
I think u need to redo your costing, becos current living cost has already skyrocketed,please check before u do any renovation.


So must have at least RM30K in bank before buying a new house, that is only part 1.
This one depend on how big and types of house you are looking for, perhaps a single storey landed property below RM150k will suit your budget.


Part 2 = RM20K for emergency use, to use when it is needed for like cost of repairing (i.e washing machine, plumbing, electrical).
This one is depend on how bad is your damage,my last damage for repair for m single storey house is RM60k for a few minor work for roof and kitchen.


So everything RM50K.
So this figure sudah underestimatedloh


Yea, if I have RM50K in bank, i'll get a new house.
Think carefully, i think u should increase it to RM200k before u think about new house.

Wanna ask about home loan. Maximum years of loan for now is 25 years or 30 years? Let's say the house cost RM300,000 or RM400,000. I will pick maximum years to loan the house, how much should I pay monthly? What is the interest rate? No experience here.
Try save up as much as possible, taking full loan will only kill your pocket in long term, in simple explanation when you take full loan for a house, the first 10 to 15 years is actually your interest payment to the bank, no deduction from principal amount paid. Thats mean you are paying for one house but in the amount of double from you actual figure.

I am no expert, just a simple family man that is struggling to balance the financial figure for my own family.

 

[simplythebest]

andrew,
but i duno la normally for chinese culture is 1st house susah2 beli from last time not for sale loh.. den u got money invest in new house as ur future investment and u stayed wif ur wife liao.. yep buying house can say ok la procedure likewise same like buying car onli dat house gotto prepare more huge $$$ den car so couple of additional steps to follow onli.. de rest once got approval ok liao.. some package offer by bank such as RHB home loan has 3 options.. AFAIK, some loan the lawyer fees all they pay for u but on ur interest side BLR (Base Lending Rate + ? %) will be higher else if u had to settle ur own lawyers and misc fees den BLR + ? % will be lower.. so meaning de bank offers u package of give n take loh.. so its up to u to choose it liao.. heehehehehe! So far i can say SBB bank homeloan package is a good deal..





Regards,
Mike

Maybe I should start reading all the packages from different banks, is time to learn all these by now. :tongue:

Err, why lawyers are involved in this case? I thought is only the bank, property owner and myself? Is like being the middleman (Witness) of agreement is it?

So when are you buying a new house? I should say when are you going to kahwin. :tongue:

 

[simplythebest]

when do you think is the right time to move out?
There is no right time, as long as you are ready financially anytime is a good time.

When you plan to married?
That will depend on yourself, you can get married at 50 y.o but by the time your kid become 21 y.o definately u will be very very old.

When you earn monthly income minimum...?
This figures is subjective everyone is different, but if u already married I guess at least you need RM4k to RM5k to settle a lot of things like homeloan,car loan,credit card, children education,petrol expenses,daily expenses for food, water bill,electricity bill, telephone bill,hobby pursuit etc

My rough estimated cost for renovating a house and buying all essential things for home.

Renovation = RM10K
This renovation amount is too low, everything increase in price and in construction line all the material already increase more than 10 times since 2 years back.

Home tools/Kitchen tools/Bathroom and etc = RM 20K
This amount only qualify for you to go for one option oni either its for kitchen cabinets n tools or others not all three one shot.

The cost above standard is not too low and not too high, just moderate.
I think u need to redo your costing, becos current living cost has already skyrocketed,please check before u do any renovation.


So must have at least RM30K in bank before buying a new house, that is only part 1.
This one depend on how big and types of house you are looking for, perhaps a single storey landed property below RM150k will suit your budget.


Part 2 = RM20K for emergency use, to use when it is needed for like cost of repairing (i.e washing machine, plumbing, electrical).
This one is depend on how bad is your damage,my last damage for repair for m single storey house is RM60k for a few minor work for roof and kitchen.


So everything RM50K.
So this figure sudah underestimatedloh


Yea, if I have RM50K in bank, i'll get a new house.
Think carefully, i think u should increase it to RM200k before u think about new house.

Wanna ask about home loan. Maximum years of loan for now is 25 years or 30 years? Let's say the house cost RM300,000 or RM400,000. I will pick maximum years to loan the house, how much should I pay monthly? What is the interest rate? No experience here.
Try save up as much as possible, taking full loan will only kill your pocket in long term, in simple explanation when you take full loan for a house, the first 10 to 15 years is actually your interest payment to the bank, no deduction from principal amount paid. Thats mean you are paying for one house but in the amount of double from you actual figure.

I am no expert, just a simple family man that is struggling to balance the financial figure for my own family.

Wah Piang Eh, what repairing that cost RM60K?, you add a Jacuzzi at roof top or what? :tongue: . I roughly know the price, because my neighbour a retired Uncle, likes to expand his house, like the balcony, kitchen and etc.

RM200K, that will need at least 10 - 15 years to save that amount, or maybe longer.

Nowadays can't really save much, even we are still staying with parents.

RM600 = Car (Proton only, an example)
RM10 x 30 = RM300 = RM5 per meal, Breakfast and Lunch (Dinner eat at home)
RM250 = Petrol
RM50 = Tol
RM300 = Misc (Soap/toothbrush/socks/stationeries/shirt/tie and etc, those we need to change after sometime)
RM200 = Ah Pa
RM200 = Ah Ma
RM300 = Entertainment, Teh Tarik

RM 2,200

Can save alittle from the Miscelleneous money and entertainment, don't spend too much.

Hmm, how long do you loan your current home?

 

[Crashvenom]

crash... 300k can't give u a big house in KL... ;)

depending on the area in KL... 1300sqf would range fr 200k to 300k... and the build up area isn't big

Prices appreciated lately. I just called the real estate agent n checked my house (bout 1800sqf)... old house la.. but got minor renovation... worth at least 400k.. if stock ones probably lower than 400k. But 400k... if buy new terrace house.. can't really find one wit big land... i see like bandar kinrara... can only put 1 car or max 2... my house can still fit in 3 sedan cars.


i live at OUG by the way... so it isnt so highclass or indemand place... so if talk bout somewhere up class or closer to KL city... wow.. mamamia.. get ready 1/2 million or more.. at least.

did suggested to my dad to sell off our house... then i pay for the installment for a semi-D at sri petaling..... but then again.... kinda sentimental wit our old house... maybe later la..

really? i thought KL have a more decent pricing for landed properties compare to PG.. as you know, price for houses is always skyrocketttttt..

anyway, 1300sqf for 200-300k isn't really that bad yet. considerably good lo.
Don't sell ler, keep it.. till the price skyrocket then bam!!, jules a millionaires. :)

CrashVenom: Congrats to your new home. Hmm, what is legal fee? RM10K legal fee is alot, that fee goes to the middleman is it? Oh so the minimum requirement for downpayment is 10% of the house price.

You spent RM70K just to decorate the apartment? That's alot.., if you have the cash, why not right?. :cool:

I'm the kind of person who do things slowly and patient, not being lazy like delaying the task, is like checking the situation properly, before deciding what to do.

Even if I have the money, i always prepare some cash for emergency use, i don't want to screw things up just because I couldn't pay up some fees.

So I think RM50K is just nice to get all the important things first. Actually, in my rough calculation with RM50K, i think I can decorate the house very nice. But of course no floor tiling those kind of high class stuff. Those tiles also cannot use those high quality texture type, to do the whole house using good tiles, wonder how much would that cost. :tongue:

firstly, thank you.
legal fee ah, well.. when you sign S&P you need to appoint a lawyer for your
side mah, but some bank loan package comes with it some not. ya .. the fee
can easily touch more than 10k++.

70k++ seem like a lot hor haiz, but in reality i didn't do much also even up till
today, i have one room left unfurnished. "por chan" already. sound system
also incomplete.. tv only besar, but no surround. :(

Well if you think you really plan it well then ok lo. But i really think 50k is still
pretty risky. unless you buy and able to stay as it is without most thing done.

anyway, good luck hor bro.. need help let us know.. try our best.
well you still have ikea if you need help on furniture. penang don't have :(