ASKING SEAN

The Makeover Mania campaign: www.themakeove...
Link to join my team in property investment club: bit.ly/3VmJixM
Use promo code: SEANTANMAKEOVER22 for property makeover: wa.link/0ea7rb
Link to OpenHouse App: openhouseapp.a...
In this episode, a couple with RM20k income is asking about can they buy a property with installment of RM 3500 a month? Being able to afford is one thing, another would be the intention behind the purchase.
My concern is people tend to overpay for ownstay properties because the saying is always "as long as you can afford and you like it, just buy it...". I don't agree to that at all. I have suggested 2 more check points before the purchase, which is the 85% rule to somewhat get the exit strategy covered. Another would be the comparison against the median price of the location.

[@saifulridzaimi]

congrats on the 100k subs! By far the best property channel in Malaysia

[@iherng]

Appreciate the compliment Saiful!! I really appreciate it:)

[@purelyric4377]

undeniably, if not, the best property related topic channel in malaysia.

[@iherng]

Appreciate the kind words❤️

[@KeepingItRealBro]

Hello Sean Tan, I'm here since you had 400 subs, best idol and uncle in MY property genre. They say the first 100k are the hardest on the way to a million, so it's easy from here!

[@iherng]

Appreciate it man!! I do hope so it gets easier hahaha:)

[@shaun500000]

Just signed SPA a month ago, similar situation with this couple. We've visited more than 15 units/gallery before eventually deciding on one. Some nights we get nightmares whether or not we can pay off the mortgage, so stressful.. Hopefully we made the right decision

[@hasifsalman2368]

If you dont mind me asking, did you opt for a new project? Mind sharing what you ended up deciding on?

[@shaun500000]

@@hasifsalman2368 We decided on Kensho Residence by SCP property. Spa price around rm900k. We like the japanese inspired concept and surrounded my commercial buildings.

[@ALI66833]

Yes buying a home is a very stressfull thing. Ideally you have a job security till you can pay off your mortgage. What happens when you lose your job or when you reach middle age and got laid off? In addition, if you can save more to pay off your mortgage faster the better. I dont know why the advise of 35 years to pay off your mortgage is so appealling? If you are 26 years old, 35 years loan repayment means you will be 61 years old, pass retirement age of 60 years old.

[@shaun500000]

@hasifsalman2368 We've decided on Kensho Residence by SCP Property. Around 1000 Square feet. SPA price rm897k. We like the location Taman Desa and also surrounded by many commercial building all within walking distance.

[@limy0018]

I bought a unit last year, Wangsa Maju, second hand. Completed in 2019, first owner bought at 800 plus per square feet. I bought from him at less than 700. A bit of luck for sure. But I do prefer to buy second hand especially if you can afford the deposit. You'll have much better certainty.

[@ledarmband]

Anyway now is sub sale market leh, let other absorb the progressive interest for you. As young couple, try rent around klang valley before decide settle down and full bet on BJ.

[@petiachoo1615]

100k subs, most influential property vlogger in Msia!

[@085051]

As per Sean suggested. For own stay, if want to rent. The area can fetch rental up to 85% of the instalment should we need to move out.

[@Pokeypokeys]

Congrats on the 100k, been a long journey and wish you even more success in the future!

[@ericong5200]

Is time to do a 100K subscribers Q&A. LOL

[@iherng]

I was thinking about it, but I’ve always been answering everyone’s question mah hahaha:)

[@ALI66833]

Congrats on yout 100k subscribers.

[@michaelbyz23]

Congrats on your 100k sub! Time for a 100k sub bonus video. Hint: house tour your own BJ unit before and after Reno!😊

[@iherng]

Wah!! Hahahaha. Appreciate it bro:)

[@hihi12234]

how should i balance between buying a house, paying mortgage for own stay vs to use this money instead to invest?

[@vinvin5238]

I think you may ask the wrong person. With all due respect, Sean is into leveraging but for the couple is otherwise. I guess they are probably in audit industry. Personally, I think the couple is a little too prudent but for 1st home probably is fair and only if you think to plan for more investments in the near future.

[@hoongpiowhow5943]

either prudent or the salary they mention here is not true

[@user-yj8zw7hk6f]

@@hoongpiowhow5943 or maybe age not true la... audit also wont 3 years give you so much.

[@amirfirdaus9419]

yeap you can climb quite fast in audit especially in big 4 lol

[@elto888]

Amazing succinct and informative. Great advice.

[@tg988]

Congratulations to Sean for 100K subscribers. Show us the video of unboxing the KZbin 100K subscribers plaque. So far you’re the only property KZbin channel with the plaque.

[@yaphao4544]

How dafaq at 26 can have combined of 20k per month???? Do agents get commission de? I dun believe white color job can pay such high income at 26 years old

[@Privaaate]

its completely possible, u just didnt plan your career well enough

[@user-yj8zw7hk6f]

@@Privaaate more like didnt plan well when tautoi la. assuming them graduating from college at 23. 3 years working straight land on 10k each. So intern at 23 yo is 3k, then 1st year junior 5k, 2nd year senior 7k 3rd year manager 10k.... if this continues they should be able to earn close to 50k/month around 30 yo. 700k can settle within 4 years. Havent VP also can clear off loan edi. just saying the "planning part" started wayyy earlier.

[@iherng]

Well based on the number of audiences I met, it’s totally possible. Some are professionals, but mostly are IT/marketing field related. Some are also paid in SGD or USD. It’s totally possible, but the main challenge is to accept it first:) Jia you!!

[@yaphao4544]

@@Privaaate no it's not. I have a fren from T20, graduated from US top university at 2020 age 22, currently he back to KL and work for SME, he is such a talented software engineer, and he only earning about 7k this year which is also 26 years old this year, yes it completely possible to get salary of 10k and above but that is limited by age and years experienced, bcuz doesn't matter how good you are, there is a age restriction to climb the career ladder, so you telling it was completely possible, what a bullshit. By commission I believe but if fixed steady monthly salary , I did not

[@yaphao4544]

@@iherng thx for your clarification. If is USD or SGD or any foreign currency that is higher value than MYR, then it's completely making sense, if you account for just working at local getting local MYR salary of 10k gross per month at 26 then not making sense, hahaha, I myself working in IT field too , doing full stack, 25 years old, getting almost 6k too which is decent and above 80% of peers but never heard of below 28 getting 10k 😂😅.

[@karenchin8152]

I am too scare to have commitment of 680k as I do not need a home at the moment,will target to buy a condo with 2 rooms near my working place😂 10k per month salary should be ok for monthly commitment 2500

[@vinvin5238]

Well for me; I never buy home base on working place unless you are near retiring or you won’t be changing job ever or you sure your company won’t be relocating. My 2cents.

[@karenchin8152]

@@vinvin5238 I do not have prefer area at the moment. The place I will buy is convenient for myself

[@karenchin8152]

​​@@vinvin5238thanks for your input, but my preferred location is not matching my budget. So, focus on convenient😂

[@vlvictorleeify]

Can you clarify your comment about lower rebate because you purchase using Houzkey? I thought you also get 100% loan?

[@iherng]

This was my own experience when I took Houzkey. I didn’t qualify for the extra discounts for eg:5%~8%, those standard package from the developer because technically Maybank is the buyer. We are just the ‘tenant’.

[@LauraTang-m2o]

They can buy a rm3mil semi d in pj or about 4 units of condo price rm600k to rm800k.

[@crazyhellfirez]

thats why developer sell very expensive condo because they know this type of buyer exists. btw you need to consider the carpark design, how narrow the turning point, lif brand (please avoid hyundai lift!!!) this two is very crucial because everyday you use this.

[@kokonut4265]

Nice watch!

[@bensim4628]

congratz on the 100k subs!

[@YoungALH]

Hi boss, for rumahwip do they include parents income/ family background into consideration or just my personal income/assets?

[@iherng]

Only personal income lah.

[@YoungALH]

@@iherng Thanks boss for replying, btw, congrats on your 100k subs!

[@nana.8509]

T20 when I get salary. B40 after i pay all expenses. Apa macam ?

[@LeeFamily-c8z]

Hi iherng, have you gotten your VP / key for your bukit jalil unit? I am waiting mine too and it took so long even I had pay off the balance lum sum.

[@shahrazatiskandar]

Try not to combine name when purchasing peoperty.

[@iherng]

Great point, that’s why the audience asked whether RM10k salary can qualify himself.

[@afiqahmalik1215]

i love your explanations throughout this video!

[@Lu-Beng-Ngap]

Nice watch ah Bro 😎

[@gohkarmen6019]

Welcome to bkt jalil! 🎉

[@andytay9062]

Congratulations to Sean for 100K subscribers. Is that a PP on your wrist? 😉

[@weng7813]

but only support KL area

[@leejinglim5893]

26yo with 300k liquid assets 💀💀💀 inherit from papa?

[@tnymindcraft6622]

20k per month, 1 year can keep more than 100k. u kira loh. 1-2 years can save that amount

[@weilk7420]

​@@tnymindcraft6622Lari tax ah? Msia if earn about rm10k need pay 20% to LHDN

[@Y3llow_Submarin3]

@@tnymindcraft6622 combined income of 20k, not individual

[@MaverickEchoJuliet]

Earning 10K gross for a 26 year old is very commendable

[@visualnanas9199]

Young young 26 already got kiampsiap cinapek mentality... No need to buy lah... Keep saving n live rent free till ur relative kicks u out

[@iherng]

Relax lah. I think it’s still better than overspending or buying without proper strategy. That’s why they write in and ask mah…

[@Y3llow_Submarin3]

how kiampsiap cinapek? lol

[@zzy341]

1100sqft and above new launch for $700-900k? That's not even enough to buy a HDB...

[@revolusirevolusi-jw7tn]

Wife sounds like a problem