Malaysians shared that they intend to buy a property in the future, and more than half Malaysian home seekers are also considering property purchases in the outskirts of the city. The ability to afford a home is heavily based on one’s salary, with banks typically providing loans up to 30% of the annual income.
Before purchasing a new home, they are required to find out what homes they are able to afford. PropertyGuru however has a solution for this, which is their Home Loan Calculator. It would help with giving a monthly estimate of your very own dream home.
Based on these assumptions, a quick calculation with the Home Loan Calculator shows that a RM400,000 property only requires a repayment loan of RM1,539 each month. This means that if you have a combined household income of RM5,000 you are able to afford a home worth RM400,000.
