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> First time buying property, may need some advice, Targeting East Residence

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TSFreemasonry
post Mar 21 2019, 02:51 AM, updated 6y ago

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Good day ladies & gentlemen,

Im currently looking at Sime Darby property @ East Residence - Alya

Ive been unable to find a proper market rate of this said property, was it 3.2mil or more?

A little background of me, which i hope it may be of useful when giving me advise financially, to be noted that this is my first time buying property.

Background:

Age: 31 Single
Occupation: Management Director
Industry: Natural, Marine, Agricultural and Food Sciences


Financially:
1. My monthly income is MYR 85,000.00, on which:

1.1 KWSP: (Employer 13% / Myself 11%)

2. I also have another own trading business, on which in monthly average basis:
2.1 Income: MYR 60,000

Personal Income-Tax 2018:
LHDN: Ive contributed a total of MYR 406,854.00 on 2018

Commitment:
Currently i'm only serving my car loan at MYR 10,438.00 and will be ended by July 2019, after which, i will no longer has any commitment. My credit card in CCRIS has been good as i do not owe any credits. Paid on time for the past 3 years.

Apart from the car, i don't really spend much of my income, except on my rental at RM1,500.00 monthly, utilities around MYR 500.00 (Phone, unifi, and water and electricity), foods around MYR 2,000 and sometimes do some grocery and shopping which is around RM500.00. On some occasion, i may pamper myself with some fine dinning, once a month at MYR 300-400/meal. That's all.

I give my parents MYR 10,000.00 / month for their expenses.

My questions are:
1. Anyone has any idea whether this property is good? Whats their workmanship, people around, and the environment, from the ads ive seen, it has been good. Im currently overseas and may not be able to come back the soonest to visit the place, am planning to just go by feelings and purchase the property.

2. What about the maintenance fees of this property, how much does it cost and does it worth it?

3. Will bank give me a loan of say 30 years?

4. What if i DP 20-30% and loan for max tenure, then perhaps when i have more cash, can i just finish paying in lump sum say within the next 10 years instead of 30 years, even tho my agreement with bank maybe 30 years.

Your advise and input is greatly appreciated.

Thank You.

This post has been edited by Freemasonry: Mar 21 2019, 03:01 AM
TSFreemasonry
post Mar 21 2019, 03:53 PM

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kimzee
post Mar 21 2019, 04:04 PM

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We don't know why you need to detail all the big bucks you are pulling in monthly and your tax record.

IMO with your income, you can easily hire a reputable agency to research and help you find your ideal property instead of being a cheapcharlie by proffering advice from a Public forum..

This post has been edited by kimzee: Mar 21 2019, 04:10 PM
Mr.RW
post Mar 21 2019, 04:07 PM

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Bro
Do you need a girlfriend?

TSFreemasonry
post Mar 21 2019, 05:59 PM

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QUOTE(kimzee @ Mar 21 2019, 04:04 PM)
We don't know why you need to detail all the big bucks you are pulling in monthly and your tax record.

IMO with your income,  you can easily hire a reputable agency to research and help you find your ideal property instead of being a cheapcharlie by proffering advice from a Public forum..
*
You can have two option. Either to learn yourself or just pay more to let others do and possibly scam you since you know nothing.

I prefer the first method. If you are not happy, you may as well dont bother to reply. If it is a big buck, you havent seen the real shots. Im just a peanut.

This is my first time, learn to be mercy. If i dont provide my financial overview, at the end of the day, financial ply a big role in buying houses, and if you need a right advise, saving others time from asking more, you put your cards on the table, and have a faster, more efficient discussion.

This post has been edited by Freemasonry: Mar 21 2019, 06:02 PM
cococonutseller
post Mar 21 2019, 06:49 PM

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Q 3&4 is surely yes

Q1 &2 u really need to go make a visit
TSFreemasonry
post Mar 22 2019, 01:01 AM

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QUOTE(cococonutseller @ Mar 21 2019, 06:49 PM)
Q 3&4 is surely yes

Q1 &2 u really need to go make a visit
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Thanks a lot! Perhaps i will have to force myself to fly back then.


cococonutseller
post Mar 22 2019, 07:09 AM

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QUOTE(Freemasonry @ Mar 22 2019, 01:01 AM)
Thanks a lot! Perhaps i will have to force myself to fly back then.
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If it is a completed project, it is advisable that u spend a few nights there by Airbnb , drive to eateries nearby, observe traffic flow etc.

It is a place for own stay, then the effort must be doubled.. good luck to you.. it’s rare to see such successful young people..
TSFreemasonry
post Mar 22 2019, 05:33 PM

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QUOTE(cococonutseller @ Mar 22 2019, 07:09 AM)
If it is a completed project, it is advisable that u spend a few nights there by Airbnb , drive to eateries nearby, observe traffic flow etc.

It is a place for own stay, then the effort must be doubled.. good luck to you.. it’s  rare to see such successful young people..
*
Thank you very much for such input! Ive honestly never thought of this! Im not even close to the really succesful people, but i would like to thank you for such compliment. Believe me, this financial info is not to sport with others feelings, but upon the conveniences which upon inquiries may find necessary when advising — not otherwise.

Your advise is truly remarkable for me as a first time buyer. It is a completed project not long ago, not sure if there is any owner moving in already, but will try!
peiling25
post Mar 27 2019, 05:08 PM

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i also first time buying property.

sir, if your income is peanut, then me is chia seed divide 15x biggrin.gif tongue.gif no offence...

i looking my first house in Seksyen 25, which i think most affordable price. same with you, i cannot get a good guide on market value for the area, to avoid buy an over-priced subsale..
it really a lot to learn when buying house...
good luck!


TSFreemasonry
post Mar 27 2019, 10:40 PM

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QUOTE(peiling25 @ Mar 27 2019, 05:08 PM)
i also first time buying property.

sir, if your income is peanut, then me is chia seed divide 15x  biggrin.gif  tongue.gif  no offence...

i looking my first house in Seksyen 25, which i think most affordable price. same with you, i cannot get a good guide on market value for the area, to avoid buy an over-priced subsale..
it really a lot to learn when buying house...
good luck!
*
I am confidence to say, all of matters, property is a sector im totally clueless bangwall.gif , but i wish to congratulate you upon entering your ever first property thumbup.gif
ricadoe
post Mar 28 2019, 06:16 AM

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QUOTE(peiling25 @ Mar 27 2019, 05:08 PM)
i also first time buying property.

sir, if your income is peanut, then me is chia seed divide 15x  biggrin.gif  tongue.gif  no offence...

i looking my first house in Seksyen 25, which i think most affordable price. same with you, i cannot get a good guide on market value for the area, to avoid buy an over-priced subsale..
it really a lot to learn when buying house...
good luck!
*
Chia seed is good for health
darkmusses
post Mar 28 2019, 08:12 AM

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QUOTE(Freemasonry @ Mar 21 2019, 02:51 AM)
Good day ladies & gentlemen,

Im currently looking at Sime Darby property @ East Residence - Alya

Ive been unable to find a proper market rate of this said property, was it 3.2mil or more?

A little background of me, which i hope it may be of useful when giving me advise financially, to be noted that this is my first time buying property.

Background:

Age: 31 Single
Occupation: Management Director
Industry: Natural, Marine, Agricultural and Food Sciences 
Financially:
1. My monthly income is MYR 85,000.00, on which:
     
      1.1 KWSP: (Employer 13% / Myself 11%)

2. I also have another own trading business, on which in monthly average basis:
    2.1 Income: MYR 60,000

Personal Income-Tax 2018:
LHDN: Ive contributed a total of MYR 406,854.00 on 2018

Commitment:
Currently i'm only serving my car loan at MYR 10,438.00 and will be ended by July 2019, after which, i will no longer has any commitment. My credit card in CCRIS has been good as i do not owe any credits. Paid on time for the past 3 years.

Apart from the car, i don't really spend much of my income, except on my rental at RM1,500.00 monthly, utilities around MYR 500.00 (Phone, unifi, and water and electricity), foods around MYR 2,000 and sometimes do some grocery and shopping which is around RM500.00. On some occasion, i may pamper myself with some fine dinning, once a month at MYR 300-400/meal. That's all.

I give my parents MYR 10,000.00 / month for their expenses.

My questions are:
1. Anyone has any idea whether this property is good? Whats their workmanship, people around, and the environment, from the ads ive seen, it has been good. Im currently overseas and may not be able to come back the soonest to visit the place, am planning to just go by feelings and purchase the property.
- It is an individual preference. I strongly suggest you to make a visit to their showroom/site and ask qst such as what is include and exclude in the house once it is ready if you are getting those work in progress houses. Otherwise, just do a site visit for those that already built up.
- Do also check out the amenities nearby such as restaurant, schools, clinic etc ..
- MAKE sure you like the NEIGHBOURHOOD 

2. What about the maintenance fees of this property, how much does it cost and does it worth it?
- It is an individual preference.
- Depend what kind of property and usually the more exp. houses, the more cost p.s.f

3. Will bank give me a loan of say 30 years?
- Based on your age, yes. I got mine max smile.gif for the first house.

4. What if i DP 20-30% and loan for max tenure, then perhaps when i have more cash, can i just finish paying in lump sum say within the next 10 years instead of 30 years, even tho my agreement with bank maybe 30 years.
- When take up loan, better you inform the bank to do so. This is so that you can pick up the right loan to finish off paying.
- I know some loan will negate this .. should be Islamic loan if I'm not mistaken. Correct me if I'm wrong as I just simply recalled from my memory.


Your advise and input is greatly appreciated.

Thank You.
*
TSFreemasonry
post Mar 28 2019, 02:13 PM

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QUOTE(darkmusses @ Mar 28 2019, 08:12 AM)

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confused.gif confused.gif confused.gif
Kyotoarm
post Mar 29 2019, 03:35 PM

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QUOTE(Freemasonry @ Mar 21 2019, 02:51 AM)
Good day ladies & gentlemen,

Im currently looking at Sime Darby property @ East Residence - Alya

Ive been unable to find a proper market rate of this said property, was it 3.2mil or more?

A little background of me, which i hope it may be of useful when giving me advise financially, to be noted that this is my first time buying property.

Background:

Age: 31 Single
Occupation: Management Director
Industry: Natural, Marine, Agricultural and Food Sciences 
Financially:
1. My monthly income is MYR 85,000.00, on which:
     
      1.1 KWSP: (Employer 13% / Myself 11%)

2. I also have another own trading business, on which in monthly average basis:
    2.1 Income: MYR 60,000

Personal Income-Tax 2018:
LHDN: Ive contributed a total of MYR 406,854.00 on 2018

Commitment:
Currently i'm only serving my car loan at MYR 10,438.00 and will be ended by July 2019, after which, i will no longer has any commitment. My credit card in CCRIS has been good as i do not owe any credits. Paid on time for the past 3 years.

Apart from the car, i don't really spend much of my income, except on my rental at RM1,500.00 monthly, utilities around MYR 500.00 (Phone, unifi, and water and electricity), foods around MYR 2,000 and sometimes do some grocery and shopping which is around RM500.00. On some occasion, i may pamper myself with some fine dinning, once a month at MYR 300-400/meal. That's all.

I give my parents MYR 10,000.00 / month for their expenses.

My questions are:
1. Anyone has any idea whether this property is good? Whats their workmanship, people around, and the environment, from the ads ive seen, it has been good. Im currently overseas and may not be able to come back the soonest to visit the place, am planning to just go by feelings and purchase the property.

2. What about the maintenance fees of this property, how much does it cost and does it worth it?

3. Will bank give me a loan of say 30 years?

4. What if i DP 20-30% and loan for max tenure, then perhaps when i have more cash, can i just finish paying in lump sum say within the next 10 years instead of 30 years, even tho my agreement with bank maybe 30 years.

Your advise and input is greatly appreciated.

Thank You.
*
Regarding your question 1 & 2, you may come to Sime Darby Sales Gallery and ask them.

Q 3 & 4 - Yes



Jolokia467
post Mar 29 2019, 03:40 PM

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Bro, if you are travelling oversea frequently. I give suggestion from Sime Darby.

https://www.simedarbyproperty.com/serenia-city

This project is good. It is very convenient for all.
HAoCHa
post Apr 2 2019, 05:55 PM

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1. How to be so successful like you?
2. Want to be my investor? We bought houses and rent out as airbnb to earn profit.
3. You probably want to attend some of the property guru out there to learn more about property investing. Some are good one.

Cheers

This post has been edited by HAoCHa: Apr 2 2019, 06:00 PM
FenomX
post Apr 2 2019, 06:47 PM

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QUOTE(HAoCHa @ Apr 2 2019, 05:55 PM)
1. How to be so successful like you?
2. Want to be my investor? We bought houses and rent out as airbnb to earn profit.
3. You probably want to attend some of the property guru out there to learn more about property investing. Some are good one.

Cheers
*
@TS i also want to know how to earn so much from you, are you hiring PA?

Also if you think TS will invest with you, i think you think too much lol, would you simply invest with someone in /k/ lol
HAoCHa
post Apr 2 2019, 07:16 PM

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QUOTE(FenomX @ Apr 2 2019, 06:47 PM)
@TS i also want to know how to earn so much from you, are you hiring PA?

Also if you think TS will invest with you, i think you think too much lol, would you simply invest with someone in /k/ lol
*
but i can prepare my business proposal with track record ma cry.gif

 

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