It’s been a while since i been talking to you guys.
And I feel like I should do some post here to update on recent property market woes and what happening recently.
As you know, bank Negara still maintain OPR (Over Night Policy rate), its mean our BLR still remain the same. And I hope it will continue until next quarter.
For property sector, from my personal opinion, I been looking around and I found the property prices still skyrocket.
And rental market quite good for apartment and condominium. But, not for landed property.
I been checking rental property and I found out you can get a rental amount of rm1300 to RM1500 for a Semi-D in Setia Alam. How cool is that?
This semi-D cost a million and above but the rental are so low. The owner are paying like RM3-5k a month with rental RM1000++. I feel rental market never a good yield for landed property.
Different story for condominiums and apartments. They do have better rental income. Not fantastic but better!
I think everyone is feeling the heat from the rising cost of living. Almost everything that essential had increase. Believe me when I said we do feel the heat too.
Life may not easy for some of you and I think it is good to do some sharing here.
Since, the necessities item had increase maybe we should be prudent in using our money and comparison before buying seem like a crucial act now.
The best thing to look at is how you can start saving your cents and sense. For example, one must think how you can save your utilities bills like electricity, water, telephone bills and etc… Find a way to save more, use less or use wisely.
Example, to save a telephone bills, we have lots of new apps that can help to save more cents by using sms and call for free like Whatsapp and LINE. We should be encourage to use it. Get connected with your families and friends by using this new apps too.
Okay let’s said, after you done your saving and cut unnecessary spend, still you do not have enough money to cope with your cost of living. What should you do?
You either can look for a second or third job to earn more money or you can start taking a “Smart Loan”.
Why am I calling it a “Smart Loan”?
While, there are a lot of unhealthy loan out there that can get you fall to deeper financial hole. And I’m hoping you are not one of them.
So, if you have a house then it is great!
But, if you do not have then you have to look for other option which normally I don’t recommend unless the personal loan interest rates is cheap.
However, if you do not have a choice may be this is the only choice you have to sustain for a period of time while you are working the second and third job to pay it back. I mean it seriously!
If you do not find the extra money, you only in crucial situation where your financial stand can be collapsed and you might join thousands of people who are now under bankruptcy list.
And you know, how horrible it is when you are under this category. You cannot own anything and you always will have this mark follow you around, which can be bad for you.
If you have a house, start refinance your property before it’s too late.
Some people, just don’t get it.
You have to refinance your property before you are incapable to pay your instalment payment. NOT AFTER.
Even for one month you can’t pay. That is a sign for you to look for refinancing.
Many of them, only refinance after they are not afford to pay instalment or have been delay for 2 or 3 months. Bank will not approve a home loan application if you have arrears in your loan facilities.
To make matter worst, you have to regularise for 1 year before you can apply for loan.
|TIPS : You have to refinance your property before you are incapable to pay your instalment payment. NOT AFTER.|
Another reason for you to apply now because a complete refinancing process normally will take about 3-6 months depending on your property.
If you have the following sign, you have to start make a move:
- Salary per month do not enough to cover commitment.
- You are using credit card to pay for your commitment.
- You are taking credit card advance cash.
- All your credit card are over utilisation, if your limit is RM5000, you have used it more than RM5000.
- You start to stress about your cash & unable to sleep.
- Banks keep calling for due payment.
- Unable to pay your water, phone, telephone or any utilities bills.
Let’s said you do no need any cash now but you can have stand by cash for any unforeseen circumstances.
Especially, for business owner or commission income people, take the additional cash as a stand by or emergency situation.
We can teach you how to stand by your cash with minimum fees or low interest charge.
Or are you one of the people who look for investment in this challenging hour and try to maximise profit for it?
You actually can do so if you have the stand by cash.
I do hope all of us will survive this challenging time. Like we always do!
Doesn’t matter what reason you need for refinance, talk to us first, we can help you to make sense out of your issue.
In malaysiahousingloan.net, our consultation is for FREE, nothing is too small to ask.
We might able to help you!