hey peeps, im moving out and planning to sell my current terrace house in subang. the neighbour is asking for RM400k but i think it can go higher, but id like you guys to give your opinion...

land size: 22 x 80
buildup: 1800ft sq.
status: freehold
built in 1986
i am the first owner

the house is in SS19/5B; located in the very middle of the street, facing the subang gospel center and shop-house lots (with no retail activity, only the corner lot is being used for office activities)... the church patrons dont park at our outside parking spot, and there are loads of parking spots infront of the offices and patrons can also park on the other side of the road facing the house... and if you are a christian who attends sunday services, more power to you. im not sure the gospel center is the catholic/protestant/others kind though...

the area is close to the exits to KL and Shah Alam; it's a 5 minute drive from my house to the scretch of corner in the highway headed to the federal and plus (shah alam) with no traffic lights and u-turns whatsoever... compare this to living in the USJ you'd be facing with traffing jams the first thing you leave your housing area...
direction and time taken from house to highway

it's also only 2 minutes away from the Chinese school; the SRJK Lick Hung which i believe is reputable, parents from all over subang compete to have their children sent there. i believe living so close to the school is an advantage. you dont have to spend precious resources that includes time and money in sending your children there. i know people from USJ go through the traffic coming from as far as the back end of USK just to send their children to this Chinese school....direction and time taken from house to SRJK Lick Hung

in addition, my house has never been broken into before; there's even a light pole from TNB (?) right outside the front fence which help with SECURITY and also helps divide the outside parking space between me and my neighbour... talking about neighbour they are very nice family people if that would be a factor no loud noises coming from either side and they dont have any pets (a big plus for those with allergies)

my house will be covered under HSBB for those concerned about future-proofing this house... streamyx connection is also great. im using 1mbps capped at 1.5mbps. there's no disconnection and my SNR ratio is set around 20 (this is good as it is less likely to disconnect)

renovation has been done extensively, the kitchen goes all the way to the back, plus marble cabinet at the bottom plus wood for the cabinet doors... there's a guest dining area and the family dining area... 1 bed room on the ground floor and 4 bedrooms on the first floor... there's air conditioning in all 5 rooms plus another AC in the family living area

the porch sits 3 cars so you get to keep your toyotas and hondas safe within the fence.. automatic gate has been installed too...

there's normal wear and tear, nothing a good clean up cant fix.. im willing to bear the cost for to fix the house before putting it up for sale but the question is...

can i fetch RM450k for this house?



This post has been edited by powerfulcool: Jan 14 2010, 03:54 PM

Willing buyer, willing seller. Why don't you just advertise and see if there is anyone keen on buying your house at RM 450K?

true that. i guess ill go that way. any recommendation for a place/website where i could write lengthily?

get an agent to sell for you. This is much less hassle as the agent will handle all paperworks and calling of buyer. You can tell them your selling price or listen to them what they think of your property value.

yeah i was contemplating about getting an agent, but for the time being id like to know the market price too.. btw how much cut will an agent take?

1% to 3 % of the sold price.

Got a property around that area, current rental is about RM 900 - RM 1,000 per month unfurnished. If you sell at RM 450,000, then the rental yield is only about 2.6%, which is way too low. So I think that if the person buying the house knows how to evaluate the property properly, they might decline at RM 450K as they are better yields available around there.

Not all properties are purchase for rental purpose. It can be own stay, or for longer term capital appreciation.

True, you might purchase the property for your own stay, however yield is the standard calculation to check on your return on investment. If you have a figure of 2.6%, then your ROI will be 37.5 years, IMHO is a very long time to mstay in the house to redeem the purchase price. Also if you have bought a house with low yield means that you have over payed for the property and capital appreciation will either be slow or stunted until market price meets your property purchase price.

This post has been edited by gark: Jan 14 2010, 09:36 PM

go check under the star classifieds. usually that's a good indicator of pricing of houses in your area or through iproperty. but as i recall, subang jaya and usj area are still commanding a slightly low price. eg. i spotted ad requesting for approx rm350-380k for subang jaya house with sizes of 22x75 or 22x80.
my business associates just bought a 20x60 house in usj6 for rm260k!
so go figure! but having said all that, i'm interested in subang jaya area as it holds lotsa potential!
good luck!

If you depend solely on the rental yield as your return of investment, then you are right. But if the capital appreciation is the main objective, I do not see why one can't purchase a property having a rental yield of 2.6% now.

I bought a DSL in Puchong at 380K 4 years ago. Rental was RM 800. Yield was then about 2.5%. I sold it for RM 530K lately. I make a handsome profit from it.

Hi powerfulcool, u got PM.

yes is possible. But new terrace houses nowadays already 450 k above

I think if you ask the real estate agent who does a lot of residential property in your area, they will be able to give you a good indication.

You can also look up the following

http://starproperty.my/Home/Default.aspx

http://www.iproperty.com.my/

http://www.realestate.net.my/index.html

http://www.theedgeproperty.com/

Maybe can give some pictures of ur house?

Hmmm...if your neighbour is asking for 400k so what is the extra things about your house that makes ppl willing to fork out extra 50k for it? The location is the same between you and your neighbour.

wow. it seem promising.
usj 2 the house also got some reaching half M.
I am sure ur house will be able to fetch that price =)

Quite true...
Don't think houses in USJ can fetch so high..