Hi sifu and forumers,

Some info:
- 30s, married+ kids (below 7yo), recently moved to KL due to new job - WFH until now and company already stated hybrid as policy moving forward
- selling 1st house bought in 2015 and stayed from 2018 in previous location - buyer already signed S&P (revenue around 90k+ after settlement)
- Single nett income 10k roughly. after sell 1st house only have car loan (myr 630 - not even start yet. P2 delivery like @#$%$)
- ptptn + medical + hibah = myr 750
- savings + investment 40k (not including gain from house sale above)

With information stated above, I would like to get advise to help me making decision for acquiring the correct property.
I only have few yours left eligible for max tenure

Option 1:
- Freehold Condo in KL (700k include MRTT)
- monthly 2.5k + maintenance 250++
- VP mid to end 2025

PROS
- no need to spend upfront for DP, legal, etc. due to new project (only pay 1%)
- closer to work (<20km), can commute via LRT
- kids already start school, wont need to change school if move to this place later

CONS
- need to cont. rent until get VP + consider time to reno
- CONDO vs LANDED for kids, they already get used to landed house
- other CONDO cons (car park distance, noise, etc.) but mostly not a problem to me or wife, just less convenience

Option 2:
- Freehold Landed Double storey g&g Selangor (750k) not include MRTT yet
- no idea monthly + maintenance yet. estimate 3.1k max

PROS
- LANDED pros (no explanation needed i think)
- can move immediately (new bare unit) bar some renovation

CONS
- need to fork out up front for DP, legal, etc.
- need to commute to work(40km+) I hate this
- kids need to switch school

Appreciate any comments / advice. Thanks

Where's your work location? Wife working?

If wife working too, try to get a location convenient for both. Not necessary must buy. A fully furnished condo probably around the same as your monthly instalment.

Personally, i think your pros outweigh the cons.

Especially the highlighted two:
Changing school is a pain in the ass. And while kids can adjust very fast, but you need to go through the hassle and some tantrum moments with them.

Better travel time to work and fro. The best!

Condo has better security, depending on the community that you are going to be in as well. Landed, you will need to fork lotsa extra money to fix cctv or other security measures as well.

Your cons for condo is really not so significant, negligible honestly. But you should discuss with your wife.

Oh and one more thing, landed properties are really hot/warm in our weather. After getting used to living condo, i can never live in landed properties. So damn fucking humid and hot all the time.


PROS
- no need to spend upfront for DP, legal, etc. due to new project (only pay 1%)
- closer to work (<20km), can commute via LRT
- kids already start school, wont need to change school if move to this place later

CONS
- need to cont. rent until get VP + consider time to reno
- CONDO vs LANDED for kids, they already get used to landed house
- other CONDO cons (car park distance, noise, etc.) but mostly not a problem to me or wife, just less convenience

This post has been edited by miyakochan89: Apr 6 2022, 10:38 AM

Office in Bangsar and my wife is not working. Full time hw

I'd missed something important, we already rented a place here in KL nearby LRT. it's a 1+1 tenure agreement (tenant option).
The objective is to buy own place

commute to work 40km+, this is killing

Thanks a lot Miyakochan. Yes I think I'd already made a decision unconsciously or at least had a direction on which option I would like to lean into.
But we never know because only able to see from own POV. Sometimes other ppl opinions would help change that and could potentially steer it into another direction.
Nevertheless I appreciate your input

Yes I used to do it hence why I hate it so much! No more long distance daily commute

yeah this is a major factor really. i dreaded it so much i was actually happy with mco (a lil fked up but yea) so ive listed it and in the process of getting a condo nearer to KL

No need rushing to buy. Market oversupplied. Somemore for a 3 yrs underconstruction.

Just settle down 1st. Slowly look2 see2.

Who knows u like ur rented place u can offer to buy it from the landlord 1 day.

you are right. to be honest this was what I suggested to my wife. Just rent first and build up savings + investment.
Current place also not too bad other than it's quite old.

But on the other hand, I'm worried that the property price will keep increasing and would be more difficult to secure loan (or unable to get more favorable terms). I will definitely consider your suggestion. Appreciate it sir!

Landed ...not necessary that 40km+ unit.

In another 10 years, landed will be +50% current price

I agreed that landed will be price appreciate in coming future due to the inflation.

TS may consider find a nearer landed

Condo living is not suitable for everyone. I'm sure you know the cons of living in a condo.

Why not rent condo for a start to see if you like it? Then you could consider buying a unit there.

As far as I've surveyed, there are really not much options for subsale within my budget which also met our requirements and within distance that i think is tolerable.

Nevertheless Im not too familiar with KL yet and most likely I'd missed out some areas which could be suitable.

Yes i forgot to mention this in initial post. Currently renting a condo and definitely will consider this option too. Thanks 😁

at that price, landed will be very old and small and no GnG for a location which is near

you ok to travel 30-40km daily? and later when your kids are bigger need to go college also travel 30-40km daily?

i would suggest get somewhere more central. near to your work place.
Time= money
also any subsale fit within your budget? can see the completed build, unit direction, how the house keeping. Means can move in earlier.

else just rent first while waiting ur unit to complete.

There are areas that meet your budget. Just need time to survey. Dont rush into buying. Cont renting for the time being.

To be honest, you can do the best of both worlds.

1. Don't buy first, go rent a landed unit (at the location you wish to buy, 40km from your work place)

2. Rent for a year, pay rental only a fraction of 60% of the installment if you were to buy. Try stay there and commute daily to see if you like it.

3. Half way through if you don't like it, then you can start looking for a property to suit your needs. If you enjoy it, then you can start looking to buy subsale around the neighborhood.

4. Don't FOMO syndrome, there will always be property around to buy. Take your time, rent and stay at the landed unit you intended to buy for a year.