Post #7245

But of course, to buy a house sold by housing companies is very expensive because there's a lot of things that the company needs to pay besides the resources and workers' salary. In addition, the company aims for profit. So, the houses are expensive! No housing company gonna sell houses with exactly the total amount of cost needed to build it. That's fine, because that's how they earn money, that's how they earn for their living. But that's not the thing that I want to point here, not just by simply saying that it is expensive, but I want to show exactly how expensive is expensive. Okay, let's say the price of the house they sell is RM250k, that's the total amount of money you pay to the housing company, but the total money you're actually paying is more than that (unless you're extremely rich that you can pay it in cash without needing to loan from the bank) because remember, you need to pay interest to the bank. So, the total amount you actually need to pay for the a RM250k house can be up to ±RM466k. Your monthly instalment for the house would be ±RM1348 excluding maintenance fees. (note: calculated using Financial Calculator from Playstore, given that the loan amount is RM250k with 4.7% interest rate, 30years tenure) Since the loan amount is big, the total amount of interest by the end of the day is also big! Keep that in mind. Oh yeah, remember that furnitures aren't included too so you still need to save up more to buy those necessities. So, this is why it is actually much cheaper if you build your own house, given that you have the freedom to design it, you can decide how big or small you want it and you can actually start small and later expand it when you have more money. Of course, it will take a long time to save up unless you earn a lot or you're able to save a lot in a month because your lifestyle is extremely minimal. So, you might need to take a loan too, but you don't need to loan as much as RM250k to build a house unless you wanted to build a mansion. You can loan RM70k or even less depending on the house you intend to build. Or you could even loan RM100k and that can be more than enough to build a decent and comfortable house. & given you loan RM100k with 4.7% interest rate for a 30 years tenure, the amount of money you need to pay per month is only RM518.64 🤗 Total payment would be ±RM188k. So yeah, compare them both and what's your choice? Feel free to share your thoughts with me via @qw_qwbot🥳 Anyway, please note that these posts are tagged with #thoughts meaning that while it may be true, it is only evaluation based on my opinions. Thus, if there's something you wish you want to correct or share regarding this, feel free to connect with me via @qw_qwbot🥳 As I think, I write, reflect and write; the process goes on and I just hope that you guys understand what I'm saying and gain something from it. #thoughts@quietworld🍃