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 Buying Studio Unit, Worth it?

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TSdoinkz_gaara
post Jan 6 2017, 12:47 AM, updated 9y ago

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A lot of people have been telling me that it's not worth it to buy a studio unit. I'm planning to buy one as my own stay, not looking to gain any profit from it or anything, do you think it's wise to spend that amount of money for something basic?
TSdoinkz_gaara
post Jan 6 2017, 03:09 PM

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QUOTE(shaniandras2787 @ Jan 6 2017, 09:34 AM)
Buying anything you like within your own means is by all definition good to yourself BUT given the nature of real properties that are permanent in nature and it does not come cheap, it's always better to take into consideration the prospect of it because to be honest unless you intend to stay at that one place for the rest of your life or you foresee yourself not needing to flip your current property to purchase another one them.

To me, studio apartments are designed for 2 groups of people:-
1) individuals who does not intend to start a family for at least twenty (20) years from their date of purchase; OR
2) individuals who intend to generate profit from it (be it, subsale or rent).

My general rule is if you do not find yourself falling into either one of the above categories then avoid.
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I guess, if I move on to my next property I can rent it out? Thanks Sifu! I might fall under the 2nd option haha.
TSdoinkz_gaara
post Jan 6 2017, 04:46 PM

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QUOTE(shaniandras2787 @ Jan 6 2017, 04:02 PM)
This is the ideal situation for all but super risky.

Moving on to your next property still means that you are financially restricted to service the loan of your existing property so the rent generated from this property cannot be used to assist  in your purchase of the next therefore unless you have some financial freedom, maintaining 2 real properties at the same time is quite a bad idea.

Whatever it is, just make sure that your account balances with surplus because you never know what will hit you.
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Hm true. Alrighty! Thanks!

QUOTE(tangtang22 @ Jan 6 2017, 04:22 PM)
Good for a start to ur journey in life as you can have a whole unit to urself without having to share bathroom/common area with housemate if ur going for a bigger unit. Start small as nowadays as studios in good area can be found at less than RM300K...
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The one I'm looking at is around 400k+ for 650+sq. Is it okay?

QUOTE(nookie188 @ Jan 6 2017, 04:29 PM)
what areas are you looking at?
location is important..
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PJ mostly. (Too used to here)
TSdoinkz_gaara
post Jan 6 2017, 07:31 PM

Too fast to live, too young to die
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QUOTE(nookie188 @ Jan 6 2017, 05:24 PM)
PJ manyak besar ..which area specifically? 

at the end of the day its up to personal choices - I have seen an aunty buying a studio before as she said no inclination to clean so want a small place
with security..young people may also choose studios as they just need a place to sleep..they eat out all the time and have an active social life so cant
be bothered with maintaining a bigger place.
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Ara Damansaraaa.

QUOTE(tangtang22 @ Jan 6 2017, 05:54 PM)
650+ is a good size..

Price wise hard to comment as it depends on several factors.
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Ara Damansara, completion 2020.
TSdoinkz_gaara
post Jan 9 2017, 10:52 AM

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QUOTE(ricstc @ Jan 6 2017, 07:57 PM)
if you have a gf or new wife then how?

studio one shot see all very small only

one eye look see all
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Yehh. Thought bout it but somehow I kinda like studios.

QUOTE(forever1979 @ Jan 7 2017, 05:59 AM)
depends on the layout, for 650plus sf, it maybe can put a partition and make a 'extra' room. then become 2 rooms apartment
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Hm maybe need to think bout this too.

QUOTE(shaniandras2787 @ Jan 9 2017, 10:25 AM)
Quite frankly, RM650+ per sqft is considered rather expensive already. It better comes with state of the art facilities and has super good maintenance and looks absolutely stunning on the exterior and the common area otherwise, you are over paying (taking into consideration the current real property market).

By the way, have you check the monthly maintenance charges and other commitment fees you need to pay?

I realized most people failed to take this into account when making their purchase. This affects you in the long run and can drag you down to hell with it.

Imagine if the charges are RM0.30 per sqft, a unit with about 2k sqft will already costs you RM600+ already.
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Yeah it's roughly 0.30 per sqft, so prolly around 200+ extra every month. So far I have not much commitment. But if the location is somewhere I like, do you think it's worth it?
TSdoinkz_gaara
post Jan 9 2017, 04:04 PM

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I'm not looking at this place as another income yield but yeah, you're right. I'll prolly listen to my heart this time haha.

 

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