Thanks cyberjaya folks for your feedback, I do appreciate it.
Btw, I have rented a room in dmelor for over 10 years now and I must admit that I'be grown fond of this place because it's peaceful (not so much now than it used to be) and better maintained than a lot of places here in
Cbj.
500k is the net price for the house though, no more nego and there are things in the house need to be replaced as they are just quite old already....
I called up a couple of valuers and they came back to me with bank values of 500k&520k respectively, but the house owner insists that her house is worth a lot more than that and suggests that I call banks instead..
So the pros I can think of now are:
**Location, strategically located in the heart of CBJ
**One of the best managed condos in Selangor ( yes it's Selangor, the management was rewarded a cert for the 2nd best managed condo in the whole Selangor back in 2010/1 if I remember correctly ). It's not as good now because some best people on the previous council have resign leaving behind a bunch of clowns who are doing most of the things for their own benefits ( the recent repainting work ;-) )
**it's considered one the cheapest in cbj considering its B.U
** higher chances of renting ( if I can't afford to live in it due to its crazy high maintenance fee which is now at 0.36sf)
The maintenance fee for this place used to be quite low before setia harum handed over to the current management, they were willing to lose money to bear the cost and there were hardly any sinking funds then.
**saves me energy from walking up and down carrying heavy stuff as dmelor is a walk up condo. Well not entirely, the highest block has lifts.
Cons:
** cbj is way way over supplied with apartments and if one day I struggle to cope with the maintenance fee I might have problem selling it
** I might be able to get cheaper and better houses in another 2 years seeing where our economy is going
** ground floor units in dmelor have been broken into a few times already so it's now safe as higher units. That can be easily fixed by installing grilles I suppose
Anyway I'm a first time buyer here i would appreciate
it if you guys can give me even more insightful feedback. Thanks a lot and have a great Sunday.
You should know better than us since you have been renting there for 10 years. For that price I don't think it can go any lower in future. If the economy is really that bad, any other development you purchase also will most probably have the same fate. Not forgetting others are selling at much higher per sqft price.
I think the location is good. Worst case you can even rent out the extra rooms to help you pay the installment.