Poor People should not buy Apartments & Condos 
May 31 2017, 10:30 AM
QUOTE(scorptim @ May 31 2017, 02:07 AM)
If you're talking about leasehold then ur correct, but Freehold condo or apartment is ok. It's precisely because you don't have much money you can buy. Just need to make sure you find a good condo with good management. Those that maintain the condos well. You sell off the condo after 5 to 10 years then you'd definitely make enough profit for a landed property downpayment.
Despite your statement that the price will depreciate with time, I have yet to see well maintained freehold condos in klang Valley where the price has dropped compared to past 10 years. So many condos and apartments built in early 90s which are still sold at good price way above the original purchase price.
You rent rm1500 for 30 years, you would have spent 500k just paying rent without gaining anything. If you bought the 500k condo, even though you may have spent 900k in total paying the installment for 30 years, you could easily sell it off for at least the launching price. Meaning in total you only lose 400k...that's assuming the condo is sold at launching price, which almost never happens. You'd usually get around double after 30 years, maybe even more if ur location boom even more throughout the years.
Anyways, you opened quite few threads on similar topic before this, so my only question to you is... How many units you renting out now? Rental market not that good until you have to keep posting to convince people to keep renting ah?
The Rent vs Buy debate is not always about dollar and cents. People will swing between the 2 option depending on where they are in live, how much they are making, work mobility, family status etc...Despite your statement that the price will depreciate with time, I have yet to see well maintained freehold condos in klang Valley where the price has dropped compared to past 10 years. So many condos and apartments built in early 90s which are still sold at good price way above the original purchase price.
You rent rm1500 for 30 years, you would have spent 500k just paying rent without gaining anything. If you bought the 500k condo, even though you may have spent 900k in total paying the installment for 30 years, you could easily sell it off for at least the launching price. Meaning in total you only lose 400k...that's assuming the condo is sold at launching price, which almost never happens. You'd usually get around double after 30 years, maybe even more if ur location boom even more throughout the years.
Anyways, you opened quite few threads on similar topic before this, so my only question to you is... How many units you renting out now? Rental market not that good until you have to keep posting to convince people to keep renting ah?
By buying you also get tied down etc. If I am a single guy with no family, I'm gonna rent be flexible, whenever there is a new condo up that i fancy, I'll move there etc.
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