Buying a flat.. comments & suggestions plz..

[maXmood]

Hey guys,

for the last 3.5years i've been renting a flat for BD.140, and now the owner raised the rent to BD.160 (starting jan 2008).. so i thought, that's an extra BD.20 for something which isn't really worth living in (it's comfy, it has a good space, it's just the area "tobli" and the neighbors that are not worth staying for)..

my application for a house (Ministry of beyoot el gawa6i) was in 2002. and i think i'll have to wait for another 10years to get it..

so far, i've wasted around BD.6,000.... all gone for a rented flat cuz i don't have any other solutions like "stay at your dad's or uncle's house"..

so i thought since i've just changed my job, why not put an extra penny on the BD.160 (which i'm going to be paying for the rent) and buy a flat (something that i'm going to own eventually).?

i don't know what are the available options from those flats, but i'm looking for something decent and something that i can pay BD.250 for 20 years or so.

put in mind that i already have a loan with BD.300 monthly payment..

please post comments, suggestions, anything that you think will contribute to this thread. otherwise, please take ur crap somewhere else..

thanks for understanding.

[Silvervette]

Bro im planning for a flat too but i think its quite hard since u are already paying BD:300 , a decent flat the ones in juffair start 50 on awards.


You may find other flats in sanad riffa area around 30-40.It does depend on facilities too.

[KLEEMANN]

hi maxmood
i feel your situation, in fact its most bahrainis situations. your idea is good but in bahrain no place is going to sell you a flat for that long term u stated ( 20 years ) except the government. i may be wrong please correct me if so. what i know about buying flat in bahrain is that u pay in full, or in phases like for example: BD 50k flat u pay its price in agreed period of time usually every 6 months.
good luck bro.

[Silvervette]

hi maxmood
i feel your situation, in fact its most bahrainis situations. your idea is good but in bahrain no place is going to sell you a flat for that long term u stated ( 20 years ) except the government. i may be wrong please correct me if so. what i know about buying flat in bahrain is that u pay in full, or in phases like for example: BD 50k flat u pay its price in agreed period of time usually every 6 months.
good luck bro.

Yes usually 50-70, u can pay its in two halfs thats possible.Before Completition as a booking and once completed.

[Shihaby]

flats in Busaiteen are generally cheap... if you want more info i could go check the prices

[ADM]

Hey guys,

for the last 3.5years i've been renting a flat for BD.140, and now the owner raised the rent to BD.160 (starting jan 2008).. so i thought, that's an extra BD.20 for something which isn't really worth living in (it's comfy, it has a good space, it's just the area "tobli" and the neighbors that are not worth staying for)..

my application for a house (Ministry of beyoot el gawa6i) was in 2002. and i think i'll have to wait for another 10years to get it..

so far, i've wasted around BD.6,000.... all gone for a rented flat cuz i don't have any other solutions like "stay at your dad's or uncle's house"..

so i thought since i've just changed my job, why not put an extra penny on the BD.160 (which i'm going to be paying for the rent) and buy a flat (something that i'm going to own eventually).?

i don't know what are the available options from those flats, but i'm looking for something decent and something that i can pay BD.250 for 20 years or so.

put in mind that i already have a loan with BD.300 monthly payment..

please post comments, suggestions, anything that you think will contribute to this thread. otherwise, please take ur crap somewhere else..

thanks for understanding.
Apply for the 100BD allowance the government has just put through, if you are eligible for it. And you will only have to pay 60BD.

[Silvervette]

try www.landmarkbahrain.com

[maXmood]

thanks for the replies guys..

Apply for the 100BD allowance the government has just put through, if you are eligible for it. And you will only have to pay 60BD.
i'm not eligible.. thnx tho.

keep them suggestion coming..

[ED]

Mahmood, if you extend your budget a bit liek 285-300, you will be able to buy a BD75,000 or Small Villa over 25 years, Im talking about Reef here they have some good offers on Flats and small villas in new area's, think Amwaj for Flats.

BBK will also Fianace you for 25 Years, you choose the house, they approve it and Finance you, the only down side in Financing realestate that you will have to put down 10%, i think BBK and AUB are offering the same with 5% down but you will have to transfer all your accounts to them.

will talk about it tongiht i guess.

[maXmood]

thnx ayood..

[ED]

thnx ayood..
let me know if ur interested, might be able to dig up more info since Im in the market for the same.

[Blow-Off]

bro the flats infront madinat 3isa mamsha are for sale as i think from ISKAN ?? cuz i know couple of pple live there

[Hider]

I don't want to think in bad way , but what you will get if something happen to that building .I'm always thinking about the iskan flat ! that time you don't have land , you don't have anything .

bad thinking ha ! lol :P

[maXmood]

I don't want to think in bad way , but what you will get if something happen to that building .I'm always thinking about the iskan flat ! that time you don't have land , you don't have anything .

bad thinking ha ! lol :P
do you know that you actually sign legal papers? do you know that in those papers it's mentioned that you own this type of flats and this much of sq/m? and the flat will be under the financing party's name till i pay all my outstandings, so if it really happend and the building collapsed, the bank will have to sue the building owner, not me. do you know that there must be an insurance on the building? and alot of things that you and me don't know about...

and even if that happen the building collapsed (which i doubtfully think it's gonna happen), i can go again and rent a flat.. :)

[SAMoloGY]

Mahmood, if you extend your budget a bit liek 285-300, you will be able to buy a BD75,000 or Small Villa over 25 years, Im talking about Reef here they have some good offers on Flats and small villas in new area's, think Amwaj for Flats.

BBK will also Fianace you for 25 Years, you choose the house, they approve it and Finance you, the only down side in Financing realestate that you will have to put down 10%, i think BBK and AUB are offering the same with 5% down but you will have to transfer all your accounts to them.

will talk about it tongiht i guess.
u got that right bro.. i bought a 2 story villa in saar gate through AUB (i work at BBK, so i cant take a loan from them) over 20 years.. im paying half my salary for it but.. the rent is much more than the installments so.. it covers it up with some extra..

MaXmood.. u should give the bank the visit.. if ur serious.. ill pm u my number, im sure i can hook u up with a good rate here at BBK.

thinking of buying another one now.. SARZ.. any more info on the villa's @ reef? price??

[-=<FOXXX>=-]

how much r villas in saar gate??

[ZEX]

la weygooloon etzawag ! :tome:

[SAMoloGY]

there a variety of villas.. ranging from 104k to 130ish

i think theyre all sold though

[arsenal]

good luck bro, inshalla you will find a flat or house that will keep you happy and comfortable for many years to come.

i highly suggest you get a house rather than a flat for 70000bd. check out what Emcan has, they just had houses for sale and some were really worth it. they are located on Kuwait Road, in the soqaya area on the road directly, you wont miss it.

also watch out for service charges, i dont know what they call it exactly, its like some amount agreed upon either to be paid monthly or annually for the maintenance if you want to buy a flat.

good luck and wish you all the best

[A.Z]

i'm not eligible.. thnx tho.

keep them suggestion coming..
laish?
mo il mafro'9 itha 5 sanawat wa fog it7a9el il 100 bd ?

[A.Z]

u got that right bro.. i bought a 2 story villa in saar gate through AUB (i work at BBK, so i cant take a loan from them) over 20 years.. im paying half my salary for it but.. the rent is much more than the installments so.. it covers it up with some extra..
so you are trying to say that taking a loan and buying a vila then rent it is a good investment?

[maXmood]

thanks for the input guys..

laish?
mo il mafro'9 itha 5 sanawat wa fog it7a9el il 100 bd ?

5 years and the salary should be BD.499/- .. if it's 500, you're not eligible.:down2:

fine.. so, i'm going for a house rather than a flat, and i'm going to push my budget to BD.300/- per month. yet, i don't want to loose my application in the ministry.

i'm sure you'll ask why, or probably you'll say i'm greedy. but, the fact is, if i'm pushing to BD.300/-, i'll have to give up alot of things, cuz i was thinking to pay BD.200/- and now an extra 100, that means i'm totally squeezed to the maximum.!

so, is it possible that i get the loan for the house and register the house on someone else's name? like my father's?

StaindWheels, since you're already in BBK, can you please do the calculation and PM me with it? i'll appreciate if you do.

i'm serious about this, and let's say i shud be ready to take this step within months..

put in mind, i don't want to get a house/flat "wain ma eblees '3awa walda"..

guys, if you still have any other suggestions, keep them coming. cuz i need to keep my mind spining about this.

thanks again.

[ZOSicK]

flats starts from 45k and plus

[designo]

I would like to congratulate our government for the wonderful job they are doing!

Did you know that in England, any major development will onlly get a building permit if they sign a document saying that 10% of the developments living units should go to the council FREE OF CHARGE??

Aint that somthing?

[maXmood]

Hani, shed some lights plz... where are those flats?
thnx

[grafix143]

fee flats for sale behind MTC Voda fone bulding behind Gosi mall
brand new building they rent and sell

[grafix143]

and also the 3 look a like buildings ba3ad flats for sale near lulu roundabout

[maXmood]

fee flats for sale behind MTC Voda fone bulding behind Gosi mall
brand new building they rent and sell
exhibition road and the diplomatic area are not ment for us, but only for expats.. cuz everything would be sky high, and it's a busy place that doesn't suit us "bahrainis"..

thnx tho.

[grafix143]

ba3ad fee new building in Riffa near a5bar al khaleej
apartment for sell
http://www.deluxbh.com u betta call them coz in the website mafee info about this building

[maXmood]

thnx 3abood... :up:

[SAMoloGY]

so you are trying to say that taking a loan and buying a vila then rent it is a good investment?
if ur salary can get u a good apartment/villa that u can let for more than the installment.. sure thing!!

[ADM]

maXmood, I have something to say, but please don't take this at a personal offense.

Look at your signature. How much money did you put into buying your car? It could have helped you as a start to buy a house or at least buy a land to build a house.

Bro, before you spent your hard earned money on it, you should have thought about securing your future first.

Buying a land, building a house to live in, saving up some money on the side for your children's education when they grow up, and paying off your loans or debts if you have any. You have priorities that you forgot about when you invested into your car. I am not saying that you should sell your car, or you should not enjoy the fruits of life. But there are some things which you need to do before others.

It would be a sad sight to see you buried in debt bro, it would be a horrible thing.

I really hope you have not been insulted by what I have posted bro. I just wanted to bring this to your attention, so that you do not make the same mistake in future. We have many young people on this forum, who will also be getting married sooner or later, and wish to start a family. It could bring this to their attention, so that they do not make the same mistakes, and learn from our own.

Allah e3eenek o yezeedek kel el 5air o Inshalla tetsahal 3alaik el 2omoor :)

[maXmood]

teslam salman .. can't agree more on your post. but, there are always some hidden issues that nobody knows about but you. and those issues or problems cud put u down to a point that you start thinking about today and tomorrow but not the future.. at that time, i was trying to live my moment, cuz i wasn't going to have any more fun in the future.. i took a big loan for my MSc. degree just to gain self confidence, and prove to myself that i can do it (just for the moment). next, i took another loan for this car.. i needed a big change in my life just to forget what i have..

now el7emdila things are better but not the best... soo, it's about time to start thinking about building a future..

thnx for ur post tho. it shud be useful to others.

[ADM]

teslam salman .. can't agree more on your post. but, there are always some hidden issues that nobody knows about but you. and those issues or problems cud put u down to a point that you start thinking about today and tomorrow but not the future.. at that time, i was trying to live my moment, cuz i wasn't going to have any more fun in the future.. i took a big loan for my MSc. degree just to gain self confidence, and prove to myself that i can do it (just for the moment). next, i took another loan for this car.. i needed a big change in my life just to forget what i have..

now el7emdila things are better but not the best... soo, it's about time to start thinking about building a future..

thnx for ur post tho. it shud be useful to others.
Inshalla you will get through it bro :)

You are most welcome.

Hard work and patience pays off in the end :)

In Allah ma3a al 9abereen :)

[-=<FOXXX>=-]

maxmood have u looked at Amwaj and Riffa Views?? The prices of these properties are pretty good considering the real estate boom.


Personally we all go thru a period where we are forced to borrow money but in the end they will pay off be it a car or a house

[maXmood]

thnx FOX.. i'll have a look on both properties..

[A.Z]

mahmood .. r u sure that your salary should be below 500 bd to get the 100 allowance?
please double check with them because i know people who are getting the 100 bd and their salary is above 500!

[ED]

mahmood .. r u sure that your salary should be below 500 bd to get the 100 allowance?
please double check with them because i know people who are getting the 100 bd and their salary is above 500!
Im sure Ive heard it somewhere.

[Black Z]

Im looking for apartment my self to buy, if you guys have any contacts to new ones please let us know...

buying a house now is out of the question, I have seen a 10 year old house for like 200,000BD's and thats really over rated.

[ED]

thank god I already have a house, will use rent money to buy the next one.

for the younger members, always listen to daddy, they talk from experiance.

[- Big&Blue -]

maxmood

how about making this your next big step? ie- once you finish up your current debts, getting into any more debts might adversly affect your lifestyle, which isnt a nice thing. i dont think owning a flat/house and "etga9er 3ala rohik" in so many other ways is a good thing.

dont know much about how banks work but if u feel you can get refinanced (with an amt enuff to pay off old debt with enuff left for a flat) in an installment you have in mind then biltawfeeg, otherwise dont pressure yourself bro, not one bit, aint worth it

whatever u do good luck

[maXmood]

thnx tameem.. i'm sure i'll put alot of pressure on myself when i do take this step. but don't you think it's a waste paying BD.160 every month for a rented flat for the coming 7 years?? 160 x 12 x 7 = BD.13,440/- just going to waste..

i know what u mean, and i've been under that pressure for the last couple of years. i just can't think of any other solution.

[ADM]

maxmood

how about making this your next big step? ie- once you finish up your current debts, getting into any more debts might adversly affect your lifestyle, which isnt a nice thing. i dont think owning a flat/house and "etga9er 3ala rohik" in so many other ways is a good thing.

dont know much about how banks work but if u feel you can get refinanced (with an amt enuff to pay off old debt with enuff left for a flat) in an installment you have in mind then biltawfeeg, otherwise dont pressure yourself bro, not one bit, aint worth it

whatever u do good luck
I 2nd what Tameem said. As long as you have a place to stay, where you are comfortable, try to stay there and enjoy it. Its better than having to cut down on other things in life, just so you can have a bigger house with a garden and a pool and 2 floors and whatever.

Find yourself somewhere where you feel at home, between family and friends if possible. Sometimes, being thankful for what you have, is more than enough :) and like I said bro, patience :)

[- Big&Blue -]

thnx tameem.. i'm sure i'll put alot of pressure on myself when i do take this step.
good that u realise that, so dont

but don't you think it's a waste paying BD.160 every month for a rented flat for the coming 7 years?? 160 x 12 x 7 = BD.13,440/- just going to waste..

if u measure it that way yes its a waste, but arnt u livin well at the mo and are happy? thats what matters more to me :)

i know what u mean, and i've been under that pressure for the last couple of years. i just can't think of any other solution.

relax.. dont take any more...pressure will affect your health and state of mind


there are factors affecting you now, there will be factors affecting you in later years, most important is to for you and your family is to live your daily lives at its best, im sure in the next couple of years you would have made a right choice bro

[maXmood]

thnx tameem.. much appreciated..