M’sian Financial Planner Says It’s Possible To Own Your 1st Home Before Turning 25yo

For first-time homebuyers, saving 10% of the home's price for a down payment is wise when securing a bank loan.
For many young people, owning a home or a car is a big dream. They want to provide a comfortable life for themselves and their families. But can they save enough money while they’re still young to make these dreams come true? That’s the big question.

Recently, on TikTok, a popular financial planner named Dr. Adam Zubir shared some really helpful money tips that got a lot of attention. During this online conversation, someone asked a key question: How can you save up enough money to buy a house before you turn 25?

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Yes, you can own your first home before 25

Dr. Adam Zubir gave a clear and wise answer, saying that it’s totally possible to achieve these goals if you start saving early. Now, let’s break down Dr. Adam’s advice into simple steps that young adults can follow to make their dream of owning a home a reality.

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1. Calculate your dream home’s cost and save about 10% for a down payment

Terrace house in m'sia
For illustration purposes only. Photo via iProperty

The first step is setting clear goals. To do this, figure out how much your dream home costs.

Once you know that, you can work out how much you need to save. If you’re buying your first home, putting aside around 10% of the home’s price for a down payment is a smart move when you’re getting a loan from the bank.

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Other costs to consider

However, it’s important to know that the down payment is just part of the whole picture when it comes to buying a home.

There are other costs too, like legal fees, stamp duty, and renovation expenses. To be ready for all these costs, experts suggest saving up to 20% of the total price of the home.

2. Save up, or find ways to earn extra cash if needed

Ringgit notes in hand
For illustration purposes only. Photo via Canva

Once you’ve set your goals, it’s time to make a plan for saving money regularly.

Figure out how much you need to save each month, based on when you want to buy your home. If you’re not saving enough each month, think about ways to make extra money, like taking on a part-time job or starting a small business.

3. Invest wisely

Jotting down
For illustration purposes only. Photo via Canva

Moreover, it’s not just about saving money; it’s also about investing it wisely.

Dr. Adam suggests putting your down payment money into safer investments to protect it from market ups and downs. But if you know a lot about investing, you might consider riskier options that could bring bigger rewards.

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Still, it’s important to be careful. Risky investments can lead to losing money, especially compared to safer choices like Amanah Saham Berhad (ASB) or Tabung Haji.

Basically, for young adults, owning a home requires planning, discipline, and knowing how to manage money well. By listening to advice from experts like Dr. Adam Zubir and being proactive about saving and investing, the dream of owning a home can become a reality faster than you might think.

Watch the full clip here:

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Tips kumpul duit rumah sebelum 25 tahun??💸💰💲 #dradamzubir #absorich

♬ original sound – Dr Adam Zubir – Dr Adam Zubir

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