Home Sweet Home

4 07 2008

If it is all right with you,  I am going to make a brief statement.

As you all know, I am not seeing anyone as for now. As mentioned before in the last year or so, there has been a good bit of turmoil and change in my life and it has caused me to keep a lot of my feelings strangely compartmentalized, hidden and stewing and not quite productively managed. 

While you bimbos were busy embracing changes with your love ones and spending all of your cents for that piece of ass, I am planning to get my own crib by May 2009. Choices is born not from trying to fit everything into bottles and jars on the shelf. So take a big whiff Ok?  That’s classification, judgement and, ultimately, misery. And to make it worse… I choose not to even get laid because my love muffin is out of commission. 

Right after MOE decided where shall I be practicing, I shall shop for my own crib. I am a kind of person who likes to seek opinions before making decisions. Right after a long consultation with my ayah and a yes, I went online searching for best possible options on house loans. Since I’m not all expert, I will consult Mimi later. To sum it up, at least initially, these are the reasons of  why you need your own place to call home and here are 3 important questions for you to ponder before you decided to be a 35 year old dude/dudets and still renting out :

Possible reasons include:

Question 1: Why you need your own place to call home. 

  1. Asset Building – A home is an asset. It is an investment because its value often appreciates.
  2. Equal Cost – Compare the cost of renting with the cost of purchasing your own home. If it’s almost the same or is equal in the long run, it may make more sense to purchase your own home (which you can claim as part of your assets)
Question 2 :  How much down payment can you afford?

 

Most banks will only extend 90% loan of the asset value. So, you’ll have to fork out the remaining 10%. The more you allocate for your down payment, the lesser interest you’d end up paying. Possible sources to pay for your down payment:

  1. Dream Home Fund, 
  2. EFP Account 2 or Personal,
  3. interest free loans from close family members.
Question 3: Can you afford a home?.
  1. Income – Do you earn enough to comfortably pay for your monthly mortgage repayments? Banks or borrowers will look at your gross monthly salary to decide whether you can afford the monthly repayments. Use Mortgage Worksheet to find out.
  2. Overall Financial Health – Debt is a major factor. Banks will look at the depth of your existing debts and calculate them against your gross monthly salary to work out its percentage of your gross monthly income.
  3. Credit Record – A good credit profile helps. Learn how to maintain a healthy credit profile.
  4. Employment History – This is one of the considering factors during the evaluation of your mortgage application. It denotes the stability of your income and the likelihood that you’ll continue the repayment of the mortgage.
  5. Balancing Dreams – Often, we are trapped by expectations (ours and those around us) to own bigger and more exclusive homes. Question is: Is it really necessary? Always compare do a reality check on what you can and can’t afford.

And in between Xtube and Friendster, do check out iProperty website. I always loved options.

Oh yeah, this reminds me of the time I rent out a condominium at Taman Melati. This was like 2 years back. I loved it there. It was one of the Platinum Victory projects and the 3+1 bedroom apartment ranging from 1,550 to 1,800 sq.ft was just exquisite. The facilities include Swimming & Wading Pools, Children’s Playground, Extensive Landscaping, Gymnasium, Launderette, Mini Market, Multi-Purpose Hall, Car Wash Area, Surau, Satallite MATV Ready, CCTV & 24-hour Security Service. It’s great and not even once, I felt afraid of getting home, alone in the middle of the night ( except the i-want-the-ladder-back-banging-door incident, which is none if my concern, mind you). 

Ted Baker

Advertisements

Actions

Information

One response

4 07 2008
Tim Ramsey

I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.

Tim Ramsey

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: