13/07/2018
WHY MAJORITY OF MALAYSIAN YOUNGSTERS AGE FROM 23-30 ARE STILL NOT OWNING THEIR FIRST PROPERTY?
1) LACK OF PROPERTY KNOWLEDGE AND NO GUIDANCE
Most of youngsters nowadays are in a comfort zone especially those who more likely to live with their parents. As for young starters, what we can suggest is you can read more properties book such as book written by these entrepreneurs, Faizul Ridzuan, Azizi Ali, Harith Faisal and also from some magazine such as iproperty and propwall. More importantly find a mentor (someone who has started investing and never lose money in property investment).. If you are lazy to buy those kind of books… there’s one easy way and its free, you can always GOOGLE everything about property. If you are still in confusing and don’t know where to start. We can teach you, just drop your number down below and we will contact you… maybe we can have a chitchat outside :D
2) NO FINANCIAL MANAGEMENT AND DECIDED TO MAX OUT COMMITMENT BEFORE EVEN PURCHASE FIRST PROPERTY
THIS IS SO IMPORTANT!! Please try to avoid personal loan, credit card (sometimes it is good but I will explain further why it is good but of course theres a way to use it wisely), additional liability such as expensive car (lower installment car is applicable to avoid bursting the dsr).. A lot of youngsters nowadays, they do have money.. but why decided to buy expensive car?? Why don’t u invest some in property and get your first house instead.. CAR IS JUST A LIBABILITY AND NOT ASSETS, IT WILL LOSE VALUE.. If you even sell the car one day, you can’t get enough money to cover the loan amount that you owe.. the value will be go down negative against your net worth.. But yes, if ure telling me you are using car for grab, it is acceptable..
3) NO SAVINGS AND SUPPORTING INCOME
Yes, nowadays a lot of developers always provided a no down payment package to even own the property. But it is wise to have atleast more than 3% savings of the property price to put more confidence towards the bank during testing out the loan and get a better interest rates.
4) PROPERTY IS LIKE A COFFIN. SOONER OR LATER YOU WILL STILL NEED IT
Rather than keep renting and paid for the owner installment it is wise to own yours either for investment or own stay which in the future can be use to flip in the future and make an additional income/bullet to buy another property.
5)TOO MUCH TALKING AND NOT WALKING THE TALK.
The only right time to buy property is always yesterday. We are always late as property price will increase time by time. No action taken will be a loss to us and gain to someone else. PLEASE DO NOT WAIT.. SAVE SOME MONEY AND GET YOUR FIRST PROPERTY..
There is no need to view all the property in Malaysia or a certain area to make a better decision.Sometimes after viewing 3rd to 4th property you will roughly know what you are looking for and what is the best options for you in the meantime.
