I've read some of the post that states that you can buy a house for future investment after 6 months employment but truthfully that maybe impossible because of several reasons.
- You'll need at least 1 year of employment records for bank to really trust you on order for them to give maximum loan which is 90%. If less than 1 year, you're loan can be approve but less than 90% which end up you need to pay more for the down payment.
- If the price for the house is RM 150,000 then you need to pay 10% down payment first so that's mean you need to have at least RM 15,000 in your bank account. How is that possible for you to save up that huge amount in just 6 months.
- How are you gonna pay for monthly installment if at the end of every month you still need to borrow from others.
So, I have the solutions for you on how to tackle these problems. You must be between these 4 groups for you to be able to own house under 6 months of employment.
- Your parents are filthy rich
- Go rob a bank
- Join a quick rich scheme (probably you become rich really fast and then suffer bankrupt)
- Build your own tree house.
This is just my opinion so if anything happens, don't blame it on me for you're own actions. Lastly, here's some true advice from me.
- If you really want to buy a house, make sure you are able to pay the monthly installment without taking it from you account. How are you gonna do it, you can try to use the house as homestay or rent it to other person.
- Besides down payment money, you still need to prepare others money such as to pay the lawyer company, land surveyors company and also others fee.
- For monthly installment, I suggest you take the longest time such as 35 years so that in the future it is easier for you to request another loan.
I hope these guidelines are useful towards others.
May Peace be Upon You