@doctored It's a MRT-linked property. Other properties around the area are being rented out for atleast RM1.8K. Even those older buildings which are far from MRT are going for atleast RM1.4K. So I'm hoping this property should fetch me RM1.5K-1.6K at least.
Anything below that doesn't really make sense considering the size (1,000 sq ft) and the location.
@erniedavid If paying 1.5k per month for car costs too much for u such as during emergency or anything then it's not suitable. Car can breakdown can have many unforseen issues and when that happens you still need to pay the installment every month and probably need to rent some car etc. So having 2k extra per month alone is not enough. But of course if situation is ideal and you feel nothing is gonna happen and you just want to enjoy the car, why not
I only start buying car more than 100k when I earn more than 30k per month.
@erniedavid There seems to be quite a fair bit of fixed cost involved, especially paying for 2 houses.
Ideally your fixed cost (including your groceries etc) should not exceed 55 to 60% of your take home pay.
You will be quite tight on money if you get the SUV but you need to work out if you can stomach the low savings (also do you have any emergency funds built etc)
@doots Thanks for the advise. I don't really have a solid emergency fund. The only untouchable savings I have atm is my EPF (even this was not high enough coz I only started contributing from 2021 onwards)
@erniedavid It’s very dangerous. You don’t have any buffer at all.
Does your wife work or are you a single income household?
What is your current car?
I’d suggest you try to save up rm1500 per month for a few months to see if you can take the extra expense. If you are able to do it by then chances are you can lower your monthly repayment since you can pay more for downpayment.
@erniedavid wait for VP and secure tenant. that will free up the cashflow for car payment. even if rented out at rm1k++. dont forget associated costs for car: petrol, insurance, roadtax, maintenance, GT Wing, wrap pearl green, bucket seats, xmm, etc.
fyi, your investment portfolio seems very defensive. pehaps intentional. maybe consider diverting a small sum to med risk if it suits your risk appetite.
