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 Residential land to build own house

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TSrebecca_choo
post Mar 2 2021, 08:09 AM, updated 5y ago

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Hi,

It has always been my dream to own a residential land and build my own house (non-bumi by the way) from scratch. And it's not easy also for a non-bumi to find an empty vacant land (at a reasonable spot and location).

I recently came across a listing for a residential vacant land @ 3250sqft @ RM250k but the catch is that it's leasehold and probably have another 70 years left.

I know there have been many topics on freehold VS leasehold but in terms of land, is it worth to get this?

I've no idea if I'm gonna hold the land for another 70 years or pass it down to my kids / next generation but just like everyone else, no one can really tell what's going to happen once the lease expires in the future.

Would appreciate some views and opinions of others.. thanks!
digitalz
post Mar 3 2021, 07:46 PM

The only thing we have to fear is fear itself.
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QUOTE(rebecca_choo @ Mar 2 2021, 08:09 AM)
Hi,

It has always been my dream to own a residential land and build my own house (non-bumi by the way) from scratch. And it's not easy also for a non-bumi to find an empty vacant land (at a reasonable spot and location).

I recently came across a listing for a residential vacant land @ 3250sqft @ RM250k but the catch is that it's leasehold and probably have another 70 years left.

I know there have been many topics on freehold VS leasehold but in terms of land, is it worth to get this?

I've no idea if I'm gonna hold the land for another 70 years or pass it down to my kids / next generation but just like everyone else, no one can really tell what's going to happen once the lease expires in the future.

Would appreciate some views and opinions of others.. thanks!
*
Well, it depends on how you want the house to be no? If you are interested, request for the lease to be "paid" by the seller before you do any transaction then? If not, moving forward, you or your kids will be paying for it down the road anyways.

 

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