This story was submitted by Chyuan
“Get out from this house!!
You do not belong here!! Get lost!!!”
Windy, cold, restless and crying! Yes, that’s the encouragement I had when I was a 17-year-old boy who had nothing but the memories of my harsh younger days.
I stayed in a few rented house for 14 years together with my parents and siblings. We rented a house in an isolated rural area nearby a cemetery. There was a time when the rented house was infested with pigeons and some of the dead pigeons even left a smelly stench for months.
During my younger days, I had to collect recycle-able trash, newspapers, books and bottles to make a living, and I also had to work part time.
Then I reached the age to pursue my tertiary education…
“Who is going to pay for your studies?!
You better study in a cheap local university!!”
With a limited budget of RM7 per day during my university days, I had to endure hunger, as I had nothing but empty pockets and skinny pale face.
Coming from a poverty-stricken background, I was determined to be optimistic and learned to be independent.
It was in the year 2014, the first year after my graduation, I decided to travel to another state to look for a job. I rented a bed, where I had to share the room with six people; some are Bangladeshis.
Then, I started looking for a property to buy…
“Are you out of your mind?
You just started working and you want to buy house now??
We don’t have the money to help you, understand?!”
That’s what my parents said. However, a few months later I managed to buy a semi-D. It was definitely a big burden. Being a fresh graduate with low income, I had to pay for my rental, PTPTN, car loan and for everything that’s necessary without any help.
Imagine eating three pieces of Roti Canai and instant noodle for the first three months, which deteriorated my health. It was a nightmare!
However, buying my first property was definitely a huge relief for me who had no proper place to stay throughout my life.
As a first time homebuyer, I followed these rules to successfully purchase my first home:
1. Self check: Determine the type of property you could afford by calculating your net disposable income and DSR ratio.
2. Setting objective: Decide whether you want to stay, rent, or resell the property.
3. Search for property: Target where you would like to invest/purchase to meet your objectives.\
4. Survey and research: Visit the location to view the actual neighbourhood and use online media to research properties; Propertyguru.com could provide reliable information.
5. Set appointment: View a few properties and remember to check thoroughly as every defect will be hidden from your sight.
6. Strategic negotiation: Negotiate with agents or owners for better deals.
7. Solicitor appointment: Lawyers will handle the documentation but remember to check with the lawyer to confirm specific terms and conditions.
8. Seal the deal: Make a deposit of earnest money to the appointed agent or lawyer as the middleman to book the unit.
9. Seek mortgage officer: Not all bankers could process loan effectively, look for more experienced bankers to process your loan.
10. Signing SPA: Proceed with Sales & Purchase Agreement signing once loan approved and never ever sign SPA before loan approval.
11. Secure the property: House insurance is a must to secure the property, look for a reliable insurance agency.
12. Make up your mind: The ultimate weapon, it is either ‘yes’ for easy property investment or ‘no’ to many months of roti and Milo for youngsters. Please appreciate your hard earned money if you decide it’s a “yes”.
13. Surprise your parents: There’s no fun if you can’t celebrate your success with your family members.
Today, I’ve already bought my second property and am looking forward to purchasing my third property by next year. Every person I’ve met taught me different things. I’ve survived, I’ve learned and like most graduates, I had to make prompt repayment to PTPTN to get a mortgage loan.
Do you have a story to share with us on how you chose your first home? Share it with us and stand a chance to win RM10,000!
