Lessons on Economy?
I bought my apt when i was 28. No one ever gave me any advice when should be the right time to buy your first property. It seems that most of my family members and friends are more keen on buying cars. They always said that i should buy a bigger and more expensive car and only buy a property when i absolutely needed to have my own place ie. just before getting married.
I regret not buying a property much earlier in life. Instead i opt to buy a more expensive car. Such a stupid mistake! I've just lost a significant amount of my salary to something that is a liability! Such a burden! Plus it depreciates like nobody's business! Stupid, stupid, stupid...
Most of my chn frens have bought an apt or house ages ago. They rent them out, so it pays for itself and they still live with their parents! Clever fellas. Thats why most good properties, the bumi lots are the only ones left because the others have been snached by non-malays.
Rule of thumb, the price of property is getting higher by the year and our salary is incresing at a much slower rate. By the time i decide to buy a place, i might not be able to get loan for it since it might be way too expensive. Plus the goverment has green light the banks to hike up interest rate lately and also OK-ed developers to increase prices due to higher fuel + cement cost. Sigh... Luckily, i've bought my first apt, might just start to buy more after this!
Respect to u chinese guys out there. To ur sense of the economy... something that malays should be more aware of!
I regret not buying a property much earlier in life. Instead i opt to buy a more expensive car. Such a stupid mistake! I've just lost a significant amount of my salary to something that is a liability! Such a burden! Plus it depreciates like nobody's business! Stupid, stupid, stupid...
Most of my chn frens have bought an apt or house ages ago. They rent them out, so it pays for itself and they still live with their parents! Clever fellas. Thats why most good properties, the bumi lots are the only ones left because the others have been snached by non-malays.
Rule of thumb, the price of property is getting higher by the year and our salary is incresing at a much slower rate. By the time i decide to buy a place, i might not be able to get loan for it since it might be way too expensive. Plus the goverment has green light the banks to hike up interest rate lately and also OK-ed developers to increase prices due to higher fuel + cement cost. Sigh... Luckily, i've bought my first apt, might just start to buy more after this!
Respect to u chinese guys out there. To ur sense of the economy... something that malays should be more aware of!
i bought my apartment when i was 23...and i'm looking into buying another one next year if everything goes well. currently i'm driving a RM40k car which i think is good enough for me (but apparently not good enough for me according to my friends). and yes, i'm a malay. i'm 25 now :)
we malays tend to get confused with our priorities when it comes to depreciating-assets and appreciating-assets...
Posted by
Anonymous |
1/12/05 12:21 pm
to me there is no depreciating assets... cars can be considered as a liability! i regret buying an expensive car... when all the while i was very happy driving my little Kelisa around!
so young and planning to buy ur second house? good for you! clever move i'd say! me very envious!
just stop listening to ur friends when it comes to cars, they gave bad advice it seems! hehehe....
Posted by
Anonymous |
1/12/05 12:31 pm