When it comes to any type of purchasing, proper budgeting is the way to go - the same goes for house purchasing. Identify your budget first before start exploring property options.
Hi bro, now I'm willing to know my budget.
About that part, maybe you can calculate that in 10 years, ok?
Bingo! 90% borrow from the bank and you should prepare the 10% as the down payment.
Maintenance cost should also be considered.
But what’s the miscellaneous cost?
When you purchase a house, it requires legal documentation. Thus, you need to pay the loan legal fees for the SPA (Sale and Purchase) and loan agreement, as well as the stamp duty and disbursement fee. Here's a quick reference:
I can say that based on industry average. If you have more savings, actually it’s quite good for you in long term.
What do you mean, Kawan?
Because your loan amount will get less. This is a simple comparison:
Wow... I can see the gap.
I see. I'm getting overwhelmed... I'm a single core.
Stimulate your target budget based on your income. You can read this if you want more details.
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