How about mutiara damansara double storey terraces? Last I scouted, they were going for RM550-600k. I don't know the asking there now.

I went today to view those house.... Went to view all of the type.. Personally i prefer SouthLake....even though is normal concept....but then, my bf he preferred Adiva.....He dissatisfied SOuthLake once he saw those house...but then for Adiva....haven ben into the house...he already into the environment....

I have been to all types, in terms of spacious the Levenue 1 & 2 is the largest.

I also like the southlake one becos of the exterior design. I still dont like Adiva. It is just too normal.

One of my fren also stay at DPC....yesterdday went to her house warming... then busybody go n view the Zenia showhouse....nice.. but abit expensive for 3 stroey....is cost nearly 800k... and 638k for 2storey...stil under construction!

So now considered Adiva and Zenia, since Zenia is under construction and will be ready 2008.. Btw, both of this type of property also need to pay maintenance fees cox is under strata title.....

FYI, is 20cent psf...

I already told u Zenia is a strata title, but if you are paying so much for a house, why get strata title? Zenia is nice because it has a lot of glass windows.

Both Levenue 1 & 2 get free 3 years maintenance/ security guard.

This post has been edited by billytong: Dec 25 2006, 10:59 AM

Myself n my bf total up income around 9k++, if i get the house at DPC, it would cost us installment around 3k..Do you think is manageable?

How safety is your monthly 9K income? If it is a job salary that means u are not safe at all.

You are just barely near the danger zone. Unless both you & your bf bank acc has a lot of cash in reserve. Buying such a high-end house with 9K income is a big NO for me if I'm in your situation.

Try to buy a house that cost half of those DPC houses, and use the 1.5K you save to do other kind of investment.

Make sense too.....not much cash on hand...hope that his house manage to sell of....then got around 80k cash lor...

Folks,

I am a Kepong boy and in year 2003 I wanted to buy DPC but the price was 480k for 20x70 and I can't afford. Now in year 2007, I can afford 480k but DPC terrace went to 620k with same 20x70 which is sell by agents and they are getting 3% - 4% in which I can't afford now.

So I decided to look for alternative place within Kepong and same time there was launch of Laman Rimbunan gated/guarded community with 3 storey (22x75) cost at 500k.

It comes with plaster ceilling for all floors, fully built using clay brick, wall finishes upto ceilling for kitchen and for all bathrooms. It has 6 rooms and 5 bathrooms. No fencing as all built with bricks front and back. View is Kepong KL Metropolitan Park Lake.

To tell the truth, I am happy to purchase a unit in Kepong cause Kepong has all below facilities

govt offices (jpn, epf, pos, tnb, jpj,)
banks (ocbc, hsbc, stanchart, rhb, maybank, alliance)
hypermarket (careffour, jusco)
shops
restaurants (number of food court)
school (3 chinese schools and govt schools)

Both me and my wife late twenties and our income is close 10k. We put our leg in now and thinking optimistic cause landed price property in Kepong will never go down and 10 years down the road loan amount remain same but income may increase. The house we bought is for good.

Regards
dr_luv

actually i tot this topic should be in property section ?haha

Waaa, RM750K for a terrace ah? I can buy 3 floor Semi-D only RM600K, confirm belly nice. Remaining RM150K can do renovation.

dr_luv,

<<So I decided to look for alternative place within Kepong and same time there was launch of Laman Rimbunan gated/guarded community with 3 storey (22x75) cost at 500k. >>

<<Both me and my wife late twenties and our income is close 10k.>>

So, how much is your monthly payment?? 4K per month??

<<We put our leg in now and thinking optimistic cause landed price property in Kepong will never go down and 10 years down the road loan amount remain same but income may increase. >>

You sounded exactly like those people in USA housing bubble. And, you are probably ion a variable housing loan based on BLR.

Dreamer

Hi Dreamer,

To answer your question and to be exact, in 2 years time we will be paying 2.5k monthly. We manage to get a very good deal from the bank after several nego discussion. And banks will harp on you to provide the best deals. And the place we bought is the most probably last piece of landed property in Kepong.

Next development may take place in Jinjang by removing the squatters.

We are jus taking the risk by getting a bigger home with heavy loan. If in 2 years we face any financial hiccup than we may sell the unit and opt for condo/apartment.

Regards
dr luv

dr_luv,

<<To answer your question and to be exact, in 2 years time we will be paying 2.5k monthly.>>

How much is the loan?? 400K??

Is it a 30 years loan??

<<We are jus taking the risk by getting a bigger home with heavy loan. If in 2 years we face any financial hiccup than we may sell the unit and opt for condo/apartment.>>

In USA, there are many people that face the upside down mortgage. Their house worth less than the housing loan. They have to pay the bank additional money in order to sell the house.

I wish you best of luck.

<<If in 2 years we face any financial hiccup than we may sell the unit and opt for condo/apartment.>>

Normally, people face financial difficulty in the middle of recession and that is the worse time to sell a house.


Dreamer

dreamer, our real estate market in M'sia, isnt as volatile as US, in fact its not even close. I have yet to see any completed properties in a decent area by decent developer depreciates upon completion. Usually there's a minimum 10% appreciation, this is given PROVIDED the developer and the location of the property are at least OK.

luv, looks like you got yourself a bargain n congratulations on your purchase. Is your property near to DPC or SPK?

How sure r u it will never go down ? property is on demand NOW? i assume u r taking fixed % loan package , but if u can't be sure ur income will increase , i wonder tht house is for good or for risk...

no offend , me + my gf income >10K, to buy 450K terrace in ara damansara oso i hav to think thrice and torture the calculator....

---

Added on September 22, 2007, 2:34 amwell said , most ppl here only heard of the last recession but hav not experienced it. i personally have not been affected by the previous one, but i hav a fren's father with few properties in decent areas selling the house/shop during crisis , the properties appreciated , yes, doesn't mean he can sell at desired price, COZ he need cash...... when u can't afford to pay off ur loan, u hav to sell, below market price, coz ppl like dreamer will come n tekan u.... btw, his nett worth drop from 3mil to half a mil.

This post has been edited by yewkhuay: Sep 22 2007, 02:34 AM

Remember the fact that you might not be paying 2.5k monthly if BLR goes further up. Also expect the worst, not the best.

Also, when you're; in financial difficulty, it's almost impossible for you to sell it at a good price. Why?...simple reason, you are desperate for cash or money. Ppl who intends to buy a house would obviously look for the best deal and nego like nobody's business. And if they knew about your situation and words spread out.....you're as good as selling the house at low or no profit at all.
Somemore when one is in dire need for money, usually their judgment is clouded.

Dreamer and yewkhuay talked about recessions and mortgage market bursting the bubble.
It's true if you look at the property market now. Ever wonder why the price is so high now? It's because economy are stable.
But recently the economy are not as stable as it seem. The bull run had ended in KLSE. Subprime crisis in the States and rising oil prices.
Property market is currently overpriced. And to me, developments are oversupplying the needs. Everyone is in the property market currently not because of needs, but basically they wanted investment.

I never really agree that property is the best investment tool, and I think some forumer here might still remember why I think so. I'm more of a skeptical person and expect the worst rather joining in the speculation of how property price would go up. And looking at the current economy I do not agree on buying expensive property unless you really can afford it and be sure that during economy downturn or financial hiccup, you do not need to sell off your property.

Pai,

1) The house that you live in is NOT an asset. It is a liability. It takes money away from you every month.

2) At around 6% annual interest and assuming that you take a loan of 400K, you are paying 24K in interest aka 2K per month in interest to stay in this house. This is a HUGE expenditure for a couple earning 10K per month. 20% of monthly income goes to paying interest.

3) This is a young couple (20+) and unless they come from rich family, they have minimum amount of asset at this moment. Is it wise to commit all if not most of their cash flow into a single house?

I wish them best of luck.

Dreamer

---

Added on September 22, 2007, 3:51 amyewkhuay,

I been through a few recessions in USA and one recession in Malaysia. Every time, the house price at the high end crashes. And,usually is the people that has more than 33% of their monthly salary tied up in loan payment that got killed in the process.

Dreamer


P.S.: Maybe, Kepong is a better place than Klang. Klang's house price has been going down for the past 2 to 3 years. And, we are not in a recession yet.

This post has been edited by dreamer101: Sep 22 2007, 03:54 AM

Allow me to give a slightly diff view :

This is a well known fact, and no dispute there. I think luv bought it for his own stay, so neither me or Luv consider his new house as an investment.

IMO, paying that amount of interest for your own house still beats renting and helping someone else to pay THEIR mortgage interest.

On a sidenote, flexi loans like stanchart's Mortgage1 or UOB Flexi Mortgage will help u save plenty of interest, provided you have some decent savings. Or you can you those extra $$$$ from bonus to make early prepayment.


with monthly repayment is about 25% of Luv's & wifey's gross slary, IMO its highly managable. Its still a lot lower than the 33% rule. This is before counting their potential salary increment over the next 3 years, and being late 20's, they are not even at the peak of their career.


Dunno if Kepong is better than Klang, or current property market is overpriced, but here's the reason why I think Luv made a good buy :

1. DPC 3 storey now selling from 730k & above and their new launches are priced even higher.
2. Sunway SPK 2 1/2 storey now selling minimum 700k.
3. And our fren here bought a 3 storey in the same Kepong area at only 500k. Should there will be a major recession, and property market bubble, DPC and SPK will be the first one to kena, not Luv's prop

This post has been edited by Pai: Sep 22 2007, 01:37 PM

Pai,

<<IMO, paying that amount of interest for your own house still beats renting and helping someone else to pay THEIR mortgage interest. >>

1) Who say if you rent, you should rent a house at $2.5K or $2K per month?? Who say you must spend that much on housing?

<<with monthly repayment is about 25% of Luv's & wifey's gross slary, IMO its highly managable. Its still a lot lower than the 33% rule. >>

2) You are assuming they do not have any other loan repayment such as car, PTPTN and so on. House alone is 25%. It is highly likely that they have other loan repayment that push beyond 33%.

<<This is before counting their potential salary increment over the next 3 years, and being late 20's, they are not even at the peak of their career. >>

3) So what?? It does not change a simple fact that they commit a large part of their income to housing.

4) They may have a baby and the wife may decide to stay home. This option will be out of consideration due to commitment on the house.

5) IMHO, time with family is MORE IMPORTANT than a fancy house.

<<Dunno if Kepong is better than Klang, or current property market is overpriced, but here's the reason why I think Luv made a good buy :

1. DPC 3 storey now selling from 730k & above and their new launches are priced even higher.
2. Sunway SPK 2 1/2 storey now selling minimum 700k.
3. And our fren here bought a 3 storey in the same Kepong area at only 500k. Should there will be a major recession, and property market bubble, DPC and SPK will be the first one to kena, not Luv's prop >>

5) When you buy a house to live, besides whether it is a good deal, you need to ask yourself a simple question. Do you really want to spend that much on a house?

Dreamer