Home or Investment FIRST

moneybee — Sun, 11 Jan 2009 16:29:24 +0800

Hello everyone.. I am lost .. Hope I can seek for some advice here

Here's my situation:

I am renting a condo unit in KL now and was planning to buy a 200k+ condo for investment & own stay purpose. Currently, what I do is rent the whole unit and pick a room for own stay, and the rest are rented out. No cash flow involve, in other words I'm staying for free. I found this method is quite OK and planned to do it for my own properties.

I have accumulate RM30k now, and start hunting properties around KL & PJ (if you have good units, please introduce to me, thank you ). Now the problem has come. For some reason, my parent have to sell the house in my hometown and don't have a place to stay. I have 2 options in my mind now:

1. Buy a unit and stay together with them.
2. Buy a unit and rent out (looking for +ve cash flow), and rent them a unit in my hometown which probably cost you RM500 per unit.

But I am considering for future also, before marriage and after marriage... life is tough ! Buy a new house and continue to rent out the properties or claim back the existing property and for own stay?

Here's my financial details:

Income:
1. Basic salary: RM3.5k (after EPF around 3 K) <-- bank loan is approve based on basic before EPF or after EPF?
2. Allowance: not stable, as I will always work in different country and the allowance is depend on the country. But once I assigned to overseas, min allowance would be around 6-7k
3. Fix allowance RM500

Expenses:
PTPTN: RM200+/month
Parent: RM700
Meal: RM400
Travel: RM100
HP bill: RM60
Others: RM100

I definitely want to buy a property but don't know which one is better for me in this situation. In short, Home first or Invest first ?
Kindly advice

Thank you !!

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