KC,

You have to be clear about the purpose of your purchase. If it's for own stay, and you like the area, then go for it.

If you are going for investment, you need to consider these factors:

Your unit price is 466K, assuming you are loaning for 420K, you need to bear the RM 2k installment/month after completion.

1) If Sanderson is for investment, are you planning to get your own place within next 3-5 years?
2) After loaning for Sanderson, do you still have enough loan credit to buy your own house?

Sanderson is targeting niche market in Serdang. Since Serdang is an up and coming area, the property price will go up (in condition that economy is growing). You might not be able to fetch RM 2k to cover up your installment, but renting out should not be too difficult given its proximity to TPM.

Just my 2 cents. You should really make clear about your purpose of purchase before making decision.

I used to worry about the developer credentials. Checked its homepage and realised that the CxO levels are ex-Hong Leong bank management.

To me, this says something - The Newfield management is experienced and well connected. They may not be expert in property development, but they must me good in managing its cash flow, funding and bank loans.

There goes my worry that the developer may fold up due to whatever reason.

Let's pray,
1) Economony will go up for the next 3 years.
2) Our government is going to live up to 50% of its promise (fair expectation?)
3) There will be next access road to Sanderson? (seriously, if any MP is going to promise that, I will ask all my Serdang friends to vote for him).

Ok, 3rd point is more of a joke. Lame joke.

Folks,

One tip to share. The early birds enjoy the DIBS. However, please make sure you monitor and ensure that the developer pays the correct amount to the bank on time.

If the developer pays lesser than the supposed amount (even RM 1) due to whatever reason, then the borrower will kena and get flagged as bad creditor on the CCRIS report. This will impact your future loan application.

Based on feedback from other forumers, it seems like this happens quite often nowadays.

This post has been edited by LakeEdger: Oct 22 2010, 08:28 PM

As of last weekend, there are still units available. 4xxk though

Same here - got my 1st demand letter for the initial 10%.

I got my S&P today and realised that it was stamped on Dec 2010, meaning there will be annual 10k tax relief for 3 years once I start paying for interest (after handover from developer). Good news to me.

I consulted EY, it is true that we are not entitled for tax relief during construction period due to DIBS. However, once handed over by developer, we will start servicing the loan + interest. Assuming the handover date is 1-Jan-2014, then the qualified tax payer will get max 10k tax relief for tax return year of 2014, 2015, and 2016.

V33n,
My S&P was dated Dec, likewise the letterhead by the law firm. I suggest you to clarify with the law firm which is the effective date.

Was going through the profile of the Financial Advisor arm of the developer - Newfields Advisor. Least to say - Impressive track record. Hopefully the management team is able to do equally well in property sector.

http://www.newfields.com.my/advisor-news.html

Yeah. The interest is covered by the developer. The statement is for your info only.

What you should do every month is - check your house loan account, making sure that there is no outstanding due payment (making sure the developer is really paying interest on behalf of the purchaser).

Hi, does anyone the latest transaction price for Block A? I am one of the owners. Have gotten loads of phone calls from property agents saying that there are keen buyers. Good sign. I personally feel that Sanderson is very good for family given its green concept.

Thanks.

This post has been edited by LakeEdger: Jul 30 2013, 06:48 PM

I personally think that it is a decent place to stay. Agree that there are room for improvement on the developer end, however, given the entry price for the 1st hand owner, this is definitely a good deal. For the 2nd hand buyer, i am off the opinion that this is a good place for family given the greens and facilities are great. Just my 2 cents.

Luisng75, mind to share which floor is your unit on? Thanks.