MANY young working adults feel they have no problems meeting the requirements imposed by banks for home loan applications.
Those who spoke to StarMetro said they felt that the standard requirements imposed were not an issue and it mainly all fell back to the ability of the applicants to repay the loans.
Rosdalilah Zahari, who is self-employed, said there should not be any problem if the homebuyer was financially capable.
“Applying for a loan becomes harder when someone has other debts.
“To buy a house, people need to be smart, especially when managing their finances,” she said.
“I often see people complaining about their pay being too low and still wanting to live the high life.
“There’s no need to be a slave to current trends, people just need to live within their own means,” she added.
On her requirements for a home, Rosdalilah, in her 30s, said she preferred a location that was developing, like Bandar Meru Raya.
“Any location that is near the city centre or with adequate facilities nearby would be the best.
“I also prefer properties that have a high resale value,” she said.
“I ask the developer or locals in the area what kind of project will be developed.
“I want to know the prospects, as probably some other developments will affect the price of the house,” she added.
Senior assistant manager Saravani Selvam also concurred that it all depended on the the ability of borrowers to pay their home loans.
“I do not think it would be a problem if we have enough savings to make the down payment or other related costs,” she said.
Saravani, 30, however, said the price of houses currently in the market was quite high.
“Even in towns like Kampar, the houses are getting expensive.
“For a first-time buyer, I think the affordable price should be between RM300,000 and RM360,000,” she said.
“So I think house prices should be lowered to enable more people to own homes,” she added.
Customer service executive Melissa Chan, 24, said she was also not worried about the financial part of the home loan.
“I am more worried about the supporting documents for my application, some of which I may not have,” she said.
Chan said she hoped to find a double-storey house near the city centre priced between RM250,000 and RM380,000.
“I prefer landed property because of the higher resale value and space,” she said.