Hi everyone, looking for some advice and a reality check.
Profile
Gross income: RM8.2k
Nett income: ~RM6.6k
Current Monthly Commitments
Rental: RM750
Car hire purchase (Myvi, 5 years): RM930
Insurance: RM340
PTPTN: RM200
Current Assets
Liquid cash: RM30k
Stock market investments: ~RM140k
Property I’m Considering
I’m looking at a new development called PIX1, specifically the dual-key layouts because the idea of renting out one side (studio) while staying or renting out the 3-bedroom unit seems logical and feasible given the location.
Why PIX1?
Future LRT
Near supermarket
Near hospital (potential rental demand from hospital staff)
Units & Estimated Monthly Installments
Type A (Dual Key)
Price: ~RM900k
Estimated loan repayment: RM3.7k – RM3.8k
Type C (Dual Key)
Price: ~RM750k
Estimated loan repayment: RM3.1k – RM3.3k
Dilemma
A friend of mine (who owns a unit at Elite Heights) strongly suggests going for Type A instead of Type C, citing:
Better long-term appreciation due to LRT + hospital proximity and the demand in that area never died down.
In 3–4 years, with either job hopping or a consistent ~5% annual increment, the RM3.7k+ commitment should become manageable
Personally, committing RM3.7k–RM3.8k monthly on my current nett income feels quite daunting, even though the numbers might work on paper with future income growth.
Questions
Given my current financial position and risk tolerance, I’m starting to wonder if I’m getting ahead of myself.
Am I overstretching by committing to a RM750k–RM900k property at this stage of my career, especially as a single income earner?
Would it be more prudent to hold off on property entirely and continue DCA-ing into the stock market, where I already have ~RM140k invested and more flexibility?
Does stretching for a higher-priced property now (Type A) actually make sense from a long-term wealth perspective, or is that assumption overly reliant on optimistic future appreciation and rental demand?
Appreciate any advice, especially from those who’ve been through a similar decision or are familiar with the Penang property market.
Thanks in advance 