Hi, parent wanted to buy a house as in my entire life we have been renting house to live because of poor financial background. They are looking at 250K-300K+ apartment around serdang area that we will be paying for around 1K-1.1K monthly. The house will be under my name hence i will be needed to pay for the loan in the future.
The apartment we are renting and living now will be raising from 900 to 1.2K hence why they brought up this and we had a huge fight between me and my parents.
Currently i earn more then my parents and combining together we doesnt even hit 5 digit on our monthly income. From my point of view i would not want to buy a house as it is too risky and too burdensome for me to handle.
Am a 23M that just started working for around 4 month and getting RM3600 monthly before deduction. Parent are in their late 50+ & 40+ years old. My dad is a grab driver & mom is a cleaner.
Current Loan
PTPTN Loan: 70K+
Car Loan: 30K+, monthly payment RM691
Parent have around 120K on their EPF combining together and they say they will be paying for the head fund and the remaining loan slowly. Just as i mentioned before from my prespective it is too burdensome for me and i ask for them for 2-3 years of time for me to pursue my job career and obtain more income. But they just keep counter-argueing on housing price will raise and they want to pay for our own house and not paying for other people house.
Thanks for the time on reading all and please enlighten me on my stance.