I saw this post on Azizul Azli Ahmad's Facebook page page today and I thought I'd chip in to give some advice to any future or current practicing doctors on buying their first property. However, this piece of advice is purely based on my experience and my prior reading. I am NOT a financial consultant nor am I a property guru.

The questioned posed is (summarized):
I am a fresh grad in a medical field  and will begin working in the public sector beginning next year. I am eyeing a few condominiums in Penang with prices between RM 400K - 500K.
What is your opinion on this issue?



Let's just assume that this person will be a houseman (medical doctor) next year. I'm not sure if it is easy to get a placement in Penang though. It may take a while as most young doctors are making a beeline to work in a metropolitan city, be it Penang, Johor or Selangor. Back in 2010, my nett income was slightly more than RM 3500. Some will say banyak, while some will say cukup cukup makan. But it will all depend on perspective.

Let's discuss this point by point.

1. SAVINGS

Before you start investing, it is best to start building up your savings. Some people set their savings to be at three months their net income, some put it at six months. It won't matter how much, but just make sure it suits you. This savings can be a great life line in case any untoward incident happens.

2. CARS

If possible, don't buy expensive cars. Let's rephrase that;DO NOT BUY EXPENSIVE CARS! The Honda Civic or Honda HRV can wait. You don't need a flashy VW Golf Gti to go to work. If you are a single guy, get a kapcai. In case your parents (and wife) won't let you ride a bike because it is too dangerous, a Myvi or Proton Saga BLM will suffice. Don't sayang your car sangat as well. I guarantee you it will get scratched in no time at the hospital's parking!

1 Pint Normal Saline

I'm not sure where I got this from but it's been told time and time again by a few financial speakers. The rough guide of how much you can spend on a car is this:


May I also suggest you buy a brand new car? Being a HO require to have a hassle free ownership experience. I bought a 12 year old second hand car and it ends up in the workshop almost every month! A brand new car is usually hassle free within the first five years of ownership.