Feature image via Canva
In my humble opinion, I think it is almost entirely impossible for young Malaysians to buy their own houses and cars. When I mention “houses”, I’d also include apartments as it’s a loose term. Having looked into the housing prices before Covid times, during Covid times, and post-Covid times, there are some differences in the prices I can see,
Before the Covid times, the prices are all so expensive. By expensive, I don’t mean the houses where cost less than RM400k. Any houses that are in the RM300k range are considered normal price now. By expensive, I’d mean anything beyond RM700k. I’d dare push that amount up to RM800k if I have to.
There may be a slim chance that young people may still be able to buy a car. However, it has got to be a local brand car. If you wish to buy a foreign brand car, then I guess you must be someone who earns some pretty serious money. As long as it is a foreign brand item, it will always cost a tad bit more than local brand items. That is merely a fact.
You may still be able to buy a house
We are not here to whine and cry. Or to sit around victimizing ourselves as that’s just not a healthy thing to do. When I was looking into properties to buy, there are still some properties where it costs less than RM350k. Upon digging a little bit further, the properties that cost less than RM300k are often:
- Located in a very rural or secluded location
- Located in a place where it may be prone to natural disasters
- Lacks geographical safety
- Lacks solid community
- Are houses or apartments that are very old
- Are houses and apartments that are made of very cheap material. These are dangerous properties because you’d never know when these houses may collapse on their own.
- Apartments or houses that are very small in their sizes
The reasons for such cheap prices can differ and be many. If you are all right with any of these criteria or reasons, then I supposed there is nothing wrong with getting these kinds of homes.
Having said all of that, it does not mean that you cannot buy a house as you are not financially stable. You may consider lowering your expectations to own a house. Even if you do choose to buy a house that is more than RM350k, you can always co-pay with your spouse if you are married. At the same time, I should also mention that your salaries do not stay the same forever. With every few years, your salary may raise depending on your situation, so there’s that.
It’s the same thing with buying a car. You can opt to buy a car that’s slightly above average and choose to co-pay with your spouse. Cheaper cars do not always mean they will last longer, although it does get the job done of taking you from one location to another.
Bottom Line
Though not being able to own your own place or car may sound bleak as a young person, there is always a way out in the end. People’s lives don’t always stay the same forever. As long as you get moving, you’d get to where you want in the end.
Lydia is a content creator under the Newswav Creator programme, where you get to express yourself, be a citizen journalist, and at the same time monetize your content & reach millions of users on Newswav.
Log in to creator.newswav.com and become a Newswav Creator now!
Newswav is solely an aggregation platform and hosts the content. The views expressed and content above including media (pictures, videos, etc) were provided by the author. If you have any questions about the content, copyright or other issues of the work, please contact Newswav.
