HOT TOPIC | First Home Buyers: Is Generation-Y’s Future at Stake?
ROY CHIEW
H
e was in his late
teens when he began
thinking about
investing in property.
For Roy, it was
something that happened naturally.
He was exposed to an early
education in property investment
by both his parents who were active
in the property market. With their
help and a long-term financial plan,
Roy purchased his first property
last year at 25, which he intends to
occupy while working on his future
investment plans.
Roy shares his experience and some
tips for new investors.
What criteria do you use before
making the final decision on
which property to invest in?
Location, price, potential, layout,
design, density, developer. But the
final criteria that will determine any
purchase is whether I can afford it
or not. My advice to someone who
is interested in investing in property
is to make sure you can afford it,
never over-gear yourself. Always be
clear what is the primary purpose
of you getting the property - for
investment or own use – as It will
influence your decision.
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Do you agree that a person
must be very knowledgeable
and experienced about the
property market before making
the first purchase?
It depends. One must be quite
knowledgeable, experienced and
well financed when it comes to
speculating. But for own use and
normal investment, just a lot of
commonsense would go a long way.
Investing in property is a longterm commitment. Do you think
our younger generation fear this
and just want things right now?
Yes and no, I don’t think the
younger generation fear long-term
commitment. I think they fear
security in the future in terms of
monetary security, job security,
government stability, social security.
I think if the younger generation can
see a stable future, they will be more
willing to commit to investment.
The Malaysian government
has initiated several schemes
to allow the people to own
affordable housing. Can this be
a good option for our vV