Tuesday 29 July 2008

My first property

Before I came back to UK in 2007, my mom and I bought a flat in Penang (mom shared with me because I couldnt afford to pay everything). We bought it at a bargain price of RM 106k because the owner was in the rush to migrate to Singapore. A neighbour bought one for RM 140k! Mom and I paid half each and the rental received every month was shared. This morning, I've sent some money back to her. I've saved enough money to buy the other half from my mom. I will pay RM70k to my mom and in 4 days time, when mom receives the money, I will be the only owner of the flat. I feel so proud of myself. I am sure friends my age are strugling to save for the deposit and paying for the mortgage every month, but I have no installments or loans to pay off. I only have rents to collect every month and I am loving it !!

1 comment:

New Kid on the Blog said...

never own a property before.... wish i can have one....