Hi Sifus out there,

Newbies here. Recently I’m looking at upcoming projects at PJ area. I’ve personally been to:

1. Sunway Serene
2. The Arcuz
3. D’erica
4. Cubic botanical
5. Embayu
6. Ryan & Miho
7. Millerz

My nett income is 4k, if have incentive then will have more. Currently working at Paradigm mall. My gf is working at KL gateway and we plan to get married in 3 yrs time. Looking for a 3R condo for future own stay use. Budget is around 500-600k & Won’t be joining name with my gf.

I’ve placed booking fee RM100 for D’erica, and I’m not sure whether I made the right decision or rush into things or not. This project will be completed in 4 yrs time and I just feel like 4 yrs is so many uncertainties and don’t know what will happen to this so called “township” by Exism. I’ve get mixed advice from friends and family. They just think it’s quite overpriced for 1200sf, 690k (loan amount) for 35 years.

Questions are:
1. Is there any better property that fits my requirement around Pj? Cos I think I keep limiting my own mindset to think that I can only afford D’erica with this sf at this price.

2. Is this project a good buy? I get feedbacks that it is very high dense and in case I wanna use it for rental in future? Will throw price and internal competition is so strong?

3. Value appreciation? I’ve survey nearby neighborhood eg. Damansara perdana, currently condos there is also selling like 400-500psf, so not really growing (perdana view condo, perdana exclusive condo etc). Will it happen to D’erica as well? Asked the agent they of coz say no, and showing me comparison with Desa park or KD, of coz there’s a gap in price psf, but they’re not comparing Apple to Apple.

4. My cousin has bad experience buying a condo in Melaka, before buying the agent say until will fly like that end up the developer zao lo and he has to pay for 35 yrs for nothing. I know D’erica is protected by HDA. but is it really safe? It’s close to 700k and it’s my first house. I can’t take the risk eh..

5. My friend ask me not to rush into this as there is so many projects out there.. but I want to stay in PJ but is there any other projects at Pj that fits my budget that I didn’t think of?

Thank you for your value advice sifus 🙏🙏🙏

Not sifu but i i think nett 4k is overstretchg it. Need to consider maintanence, renovation, quit rent..etc. And you are not married yet, if she leaves u, you’ll be servicing the debt by yourself..

For your salary range, i advise to take max 500k loan. Extras can be used to pay car, transport, entertainment etc. Take a bit further or older prop is ok.

Sorry, but is your nett income 4k?

I would be very scared to buy any of these projects with 4k nett income.

Other members can perhaps provide an insight on the rule for monthly installment for home

Buy govt assisted housing for a start.

maybe you can buy subsales property so that you won't feel worry developer run away.

Noted. Thanks for your valuable advice! Btw, any project at 500k range to recommend? Don’t mind Subsale project as long as it’s in Pj.. Actually I’m not from KL, and my workplace is at Pj so I’m only familiar with PJ haha. Not familiar with other parts of KL or selangor haha

Actually my income is not fixed, I have basic but I’m incentive based & my incentive payout is once a quarter and max payout is around 10k.. I’ve calculated for the past 6 months, my average income per month (basic + incentive) nett is around 6k per month..

Well this is to be assessed by the Banks. You have basic income but the rest is incentive based so the Bank will have to check / run through a "risk assessment" before actually deciding to give you any form of loan. Your average might not be their average tbh.

6k salary for 690k loan can be difficult to manage, reason are you have to pay progressive interests during construction, lower floor pay more interests, at the same time you have to pay current rental and also save money for renovation.

When you got the house, you will start serving the full loan, maintenance fees, insurance etc. At the same time you need to spend lump sum money for renovations. If not properly planned, can be very stressful.

One way to see is whether your current income can increase in this few years, and how fast.

And you need to spend money on marriage also. All have to be taken into account.

This post has been edited by wsoon82: Dec 14 2020, 11:46 PM

Not to mention once the OPR rate reverts back to normal, your monthly installments will go up as well.

There is 500K under-con condo in PJ but it will be smaller size, less than 800sqft, are you ok with it? You survey it yourself and as you can see, those above 800sqft starts from 6xxk. If you choose to go for sub-sale, you can get cheaper but a lot, and I meant a lot, of people tend to forget, you need a lum sum of money for sub-sale as u need to pay downpayment, legal fees, etc.. buying new under-con project usually means paying less downpayment, sometimes even zero downpayment, and some give you free legal fees.