5 Tips to buy a house in your 20s – This is the best time

These days people complain that it is getting harder to buy a house than the good old days – wouldn’t blame them. Pressing matters such as increase in costs of living has lead to lower purchasing power by consumers worldwide.

However, such matter should not stop us from achieving our dreams – right? Would you not dream of owning a house now more than ever? The price of properties will keep on rising and imagine how high it will push in the future.

But, when will the best time be to buy a property? My opinion has always been NOW – but one must proceed with right knowledge and always be aware of the opportunities and threats that lies ahead, one must proceed with the right info and knowledge.

Here are 5 tips to buying your property in your 20s.

1. Get a stable job


With a job that can give you a sustainable monthly income, you will be able to know which type of property you would want to buy. Banks will also be able to be comfortable to loan you the fundings knowing you have a steady income to pay your monthly commitments.

2. Savings


Be it a savings in the local bank accounts, ASB or 401K – just SAVE! When you know which type of property you want to buy, you will be able to know the amounts you need to allocate for your savings. Savings are mainly important for the 10% loan deposits and payment of legal fees during property acquisition stage.

However, I would highly recommend saving your money in an account that has compounded effects.

All you need to do is to ensure that you allocate certain amounts every month to put into your bank accounts and watch the money grow – disipline is key. After few years, you would be surprised how much your savings have multiplied.

3. Be aware of housing promotions and schemes

These days there have been many promotions made by developers and even the governments, the offers made differed in every countries.

In Malaysia, there is Skim Perumahan Rakyat Satu Malaysia (PR1MA), Rumah Selangorku, Perumahan Penjawat Awam Satu Malaysia (PPA1M), Skim Perumahan Mampu Milik Swasta (MyHome), and Rumah Mampu Milik Wilayah Persekutuan (RUMAWIP).

With the right housing schemes and financial capability, you may be able to own your first house – at a cheaper price!

4. There is nothing wrong starting with a small house


Now that this post is about owning a property in your 20s, I am assuming most of those who reads this are finding ways to buy your first home yourself.

Some of you might decide to buy a low range priced property or a medium range property but whatever it is – I advise not to bite off more than you can chew. This is simply because you might not know the whole property game yet and might risk a lot of money if you buy straight up a big house which means more money at risk.

Take your time and progress slowly. However, if you think you are capable enough to buy a big house and you are ahead in the property game then why not?

If an opportunity comes and you can already buy a big house in your 20s – you are good to go!

On the other hand, the good thing about living in a small house is that it does not necessarily mean you are not doing good in your life or are behind your other peers – you are only in your 20s.

Also, there is high likelihood you’ll be happier too when living in a comfy small space. You will get to spend more time with your family and all spaces on the house are occupied. Unlike living in a big house where everyone is doing their own thing in their private areas in addition to the extra marginal maintenance you have to pay for the extra spaces.

All and all, there is no right or wrong when you want to buy a house for your own stay – it is all about your personal preferences but remember to always know what you are buying and the full potential of your purchase.

By owning a small house you don’t have to strain your budget too much, get to spend on other your families.

Also, owning a small space will help you get better rentals as majority of society these days preferred a smaller space to stay due to temporary work placement and the rising costs of properties.

5. Learn the property market


Real estate cannot be lost or stolen nor can it be carried away. Purchased with common sense, paid for in full and managed with reasonable care it is about the safest investment in the world.

– Franklin D. Roosevelt

Of all the 4 tips aforementioned I believe this is the most crucial. Without learning the property knowledge you might be buying a property:

  1. At higher prices
  2. In an area that would not have development in 5 years to come – a dead town area
  3. That is build with low quality, or
  4. That might be a scam

This will get you into very hard times and may even lure you into a financial crisis if you are not aware.

You should opt to know what are types of properties that are best for investments, the whole process of buying a property and many more. But knowing that you are reading this article would mean that you are doing your best to do what you can to get the best out of your property investments and I know you will get to your destination someday – keep hustling and learn continuously!


2 thoughts on “5 Tips to buy a house in your 20s – This is the best time”

  1. Phew! It was such a relief when you pointed out that securing a decent job with a reasonable monthly paycheck is one of the most basic steps before we can finally own a residence. I have a niece who’s been considering moving out of her parents’ house next year once she passes her work interview next month. I’ll ask her to consider this option when she meets an agent for the matter later.


    1. Hi Amy. Happy to help! Normally banks prefer to observe a stable 6 months salary into the bank account prior to approving housing loans. Hope things work out great for your niece – wishing her the best!


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