MARCH 13 ― I recently made my first ever property purchase ― a subsale apartment in Subang Jaya that I bought on my own at the age of 28.

I forked out a 15 per cent down-payment, without touching my EPF or taking a personal loan, and I intend to settle my housing loan in less than three decades, maybe in 20 or 25 years.

The few friends my age who've bought property purchased it jointly with their parents, spouse or even their unmarried partner.

I used to think that I could only afford to buy property when I got married.

Of course, a dual income widens the range of property one can afford to buy. But one can never know with certainty how a romantic relationship will turn out.

Marriage can end in acrimonious divorce. Cohabitating couples are not even legally recognised here, unlike in Australia where de facto couples can claim for property division as they have the same rights as their married counterparts.

So I decided to bite the bullet and just get started somewhere.

I initially wanted to buy a “nice place” in KL or PJ, maybe a biggish condo unit with a nice view, until someone knocked some sense into me and told me that I was acting like a spoiled brat. He pointed out that he started out in a tiny flat.

That woke me up.

But being 14 years older than me, he also didn't have to deal back then with the unbridled speculation that is currently driving up property prices in the Klang Valley to crazy, unsustainable levels.

I wrote a news report in September 2013 about Malaysia’s “homeless generation”, young people in their late 20s and early 30s who are still living with their parents because they can’t afford to buy homes in the Klang Valley.

The National House Buyers Association told me then that the average price of a condominium unit in the Klang Valley is half a million ringgit and that a minimum monthly income of RM10,000 is needed to afford such properties. Landed property is even more expensive, ranging from over RM660,000 in Puchong to RM830,000 in Kota Damansara, for example.

But a 63-year-old man had told me too then that it’s not that young people can’t afford to buy property now compared to his generation; it’s a matter of lifestyle choices. He said young people want to live smack in the middle of KL or PJ, instead of opting for more affordable properties in the outskirts.

The Gen Y generation, unfortunately, has to deal with inflated property prices because of speculation.

Greedy speculators are beyond our control. But we should exercise the little control that we have in life ― which is over our lifestyle.

I’ve been driving the same beat-up Kancil for the past seven years. Many men seem to want to drive imported cars. Frankly, I’d be far more impressed if a guy owned a house than a Honda.

I don’t go to hipster cafes. RM12 for a cup of coffee seems like a waste of money; that sum can cover the cost of two lunches. 

I rarely go out for dinner, except for a weekly meal at a cheap Japanese restaurant that serves udon noodles at RM6 a bowl (it used to cost RM5).

Neither do I go clubbing.

Of course, not being in a romantic relationship also helps some. There’s no need to go to expensive cafés or restaurants every week with your significant other. Even a simple brunch at a café costs about RM30, which is slightly more expensive than a pint of Guinness at some pubs, after tax. Dinner at a typical Japanese restaurant can cost RM50. 

I hardly go shopping too ― maybe just annually at year-end sales. And I avoid designer brands when I do. My skincare products are just a simple cleanser from a pharmacy.

I wore my last pair of glasses for eight years before buying a new pair a few months ago.

My one luxury item is my iPhone 4, which I bought just before the 4S model came out. I do pay RM10 a month for Spotify too.

I’ve also gone on self-funded vacation trips to Auckland, Melbourne and Bali since I started working six years ago.

It’s generally recommended to divert a portion of your income to savings as soon as your salary comes in so that you spend whatever is remaining, instead of trying to save only at the end of the month.

I confess that I don’t do that. But I suppose there’s no real need to since my expenses are rather regular and I rarely buy things on a whim. My major expenditures include insurance and a retirement fund.

It can be difficult living frugally. But every little bit helps, especially since we’re helpless in the face of speculation and our wages aren't going up as quickly as property prices.

Financial independence is very important, especially for women since they get lower pay than men on average.

Malaysian law doesn’t favour women either. Under civil divorce laws, the division of marital assets is not strictly 50-50, with the husband likely to get a bigger share if he earns more than his wife.

A man would typically make more money than a married woman if they stick to stereotypical gender roles and she halts her career for a few years to raise young children, while her husband continues on his path to senior management uninterrupted.

So rather than wait to get married to buy a house together, it’s far better to do it yourself.

*This is the personal opinion of the columnist.