Investing in real estate is not cheap. Even the 10% down payment needs a lot of sacrifice to be made.
I just bought an double storey medium cost terrace house. Tag price is RM245,000 and it means that I must pay RM24,500 for the downpayment of the house I bought. That is a very big sum of money to let go.
But, at one side I already got my own beautiful house inside Iskandar Development Region.
Let's see here. This is my first house and its located inside a very fast developing area. It really cost me my fortune and the monthly repayment for sure will give me a headache. Thanks to KWSP, I can manage to make monthly withdrawal just to pay my loan to the bank for at least a year.
It can buy me some time to arrange my monthly budget.
For those who don't know about this, just go to any KWSP offices and ask them.
Bottomline is, you can opt to make a withdrawal to pay for the down payment or monthly payment. Most people make their withdrawal to pay for down payment and still need to pay for monthly repayment. This will affect your monthly income and at the same time you need to save some more for your expanding expenses.
In my opinion, better to make KWSP withdrawal to pay for your monthly repayment than making a withdrawal to pay for the down payment.
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