Starproperty.my Sdn Bhd assistant general manager Ernest Towle.

By ERNEST TOWLE

BUDGET 2018 was tabled in Parliament on Oct 27. For the budget, the government of the day has to weigh the costs and opportunity costs towards all that it intends to invest or not invest.

Having a starting point and strategy is critical, and the will to execute the plan makes the difference. On the real estate front, for some time now the arguments over the difficulty of home ownership has ranged from high prices to the inability to secure a mortgage.

It cannot be denied that to be a homeowner today, you would need financial capability and stamina to go through the entire property ownership process.

To think that the commitment of property ownership ends once the sale and purchase agreement (SPA) is signed, would be to underestimate the long-term financial responsibility of this significant business undertaking.

Buying real estate without thinking of the outcome, or just for the sake of buying, may cause a person to end up in situations beyond his or her control.

Without careful consideration of cash flow, gearing management and exit strategies, buyers may disqualify themselves from executing other options in the future. If you only have the initial deposit but not the ability to secure a mortgage or make payments throughout the mortgage period, all the planning in the world to grow your wealth will come to nought.