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my hubby and i are looking at buying a property costing $600,00 and thinking of renting it out at $2,500 a month. We are thinking of taking a 80% loan from the bank over a period of 25 years old at an interest rate of 3%.
do you think we can make some money out from this rental? what is the bench mark of the rental so as not to be negative in terms of the bank loan.
$600k property renting only $2500? So low? Yours is private or hdb? Location? You rent the whole unit or just rooms?
Think there is no such thing as sure earn in this world. Alot of factors, like demand and supply in property market and thus affecting rental charges. Right now, rental is high lah. Alot of demand but not enough supply but not sure if property price is still on high? If still on high then you buy expensive then you rent out, if years later rental drop then you lugi lor....
Also, must see the loan that you taking, what kind of package? Fixed rate huh? Now got very attractive package leh ... saw on the papers Maybank got this very fantastic 1+% fixed rate, think valid till today ? ahahah not sure if they extend lah ....
hi daroemon,
thanks for your advise. yar, we know it's kind of unpredictable and has been thinking of this for 2 weeks. i guess if we are not tax by the loan repayment then i think it's safe to buy the property.
ju