How Much Do You Need To Earn To Afford A House In Kl

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Most young working adults are looking for house to rent in KL as buying a property can be financially stressful. Especially with the high living expenses nowadays in Malaysia, buying a property more than RM300,000 will bring only financial burden to yourself. However, owning a property on your own might not be as unaffordable as you thought. Do you know you can still get a property on your own in Klang Valley with RM 300,000? With the recent announcement of homebuyer schemes, it is definitely possible for young working adults to buy a house on their own nowadays. Before you decide on buying a property, you can use a home loan calculator to estimate your monthly house loan repayment if you were to buy a property in Malaysia to save yourself from getting into a debt.

With the recent hike of property prices in Malaysia, the 1Malaysia Housing Programmewas announced back in 2012 to help young adults in Malaysia to buy their first home. Drop the idea of properties under the PR1MA scheme are all located in the rural or outskirts area. There are many properties that are located at Klang Valley such as Bukit Jalil, Brickfields, Kajang, and Cyberjaya 2. These areas are well developed with major infrastructure and established amenities available for the residents. A freehold apartment in Brickfields will have a starting price from RM 284,000 onwards, the starting price of a freehold apartment in Bukit Jalil with built up areas from 560 sq ft to 1,000 sq ft is RM 267,000, an apartment in Kajang will be priced at RM 236,000 onwards and an apartment in Cyberjaya 2 will start from RM 274,000. Residents of the PR1MA units at Brickfields will also have easy accessibility to places via Jalan Bangsar, Jalan Tun Sambathan and Jalan Syed Putra. All these apartments come with facilities that you can find from a luxurious condominium as well, such as swimming pool, gymnasium, playground, nursery, multipurpose hall, community hall, sky garden and 24 hours CCTV surveillance. Are you surprised at the affordability of these properties yet? If you have the misconception of PR1MA units being tiny with no facilities included, you should start changing your mindset.

Fret not if you do not fit the criteria of applying for the PR1MA houses. There are still many properties out there in the market that cost RM 300,000 or lesser. For example, there are a few properties in Bandar Mahkota, Cheras costing lesser than RM 300,00 with 3 bedrooms and 2 bathrooms. There are also units in Angsana Apartment that cost approximately RM 250,000 with plenty amenities around, such as banks, petrol stations, clinics, hawker centres and so on. Although they come with smaller built up areas of 750 sq ft with 1 car park lot provided, they are located near to Kuala Lumpur City Centre, with only 30 minutes car ride via SMART tunnel.

There are also units that cost lesser than RM 300,000 in Teratai Mewah Apartment, Setapak. Same as the units in Angsana Apartment, the units here have a small built up area as well, at 653 sq ft with 3 bedrooms and 1 bathroom. With a smaller built up areas, these units cost only RM 245,000, which is considered very affordable for a 3 bedrooms unit. This apartment comes with basic facilities as well, such as 24 hours security surveillance, mini market, jogging track and a playground for young children. It is located nearby to major highways as well such as DUKE highway, PLUS highway and MRR2.

There is also a new development: U-city situated near University of Nottingham, Malaysia campus with estimated completion in year 2020. The selling price of a 450 sq ft fully furnished unit is starting from RM 249,000. This is considered a good deal, as it is an integrated development with both commercial and residential components. Moreover, it is located near an education institution where it will ensure a rental yield to the buyers, if they plan to rent it out for investment purpose.

To sum it up, with all the options stated above, buying a property under RM 300,000 in Malaysia is still possible. Despite having smaller unit size as compared to some properties that are not under the 1 Malaysia Housing Programme, it is still decent enough for young couples or single individuals, especially those who have just started working not long ago. The PR1MA projects are not limited to houses in Klang Valley only, there are also houses with built-up areas up to 1,200 sq ft outside Klang Valley that are under the PR1MA scheme and you can check them out in their website. As the PR1MA scheme offers up to 100% home loan from the bank, do check if you fit the criteria of applying to the PR1MA scheme if you plan on getting your first property. If not, you can still look around for houses that are under RM 300,000, despite having smaller built up areas.

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