After much house-hunting and viewings appointments, there is a choice to buy

Leasehold 750K (52 years left)

or

Freehold 1.1mil

In Bayan Baru area. For own stay (plus near to workplace). Double-storey terrace with renovation done. Both built around same time, similar size.
Is the freehold status worth the extra $$?

Agents tell me leasehold is ok, can extend or even convert in the future, and a lot of units in the taman, so it would be political suicide if gov take back.. but I'm not sure if they're just trying to make a sale.
If I stay in it for 15 years and then sell, banks won't likely to approve loan for 37 years leasehold house for next buyer right?

Need help from sifus.

parked, would like to know too

1 Dont depend on what agent say
2. Dont depend on what agent say

I bought a leasehold landed property double storey also at Bayan Baru area now with 58 years left. I bought it at RM370K 10 years ago and I am sure government will take back the land bcoz the land area is just too big. However, I'm not too concern because it's very hard to buy affordable landed in prime area like bayan baru and I won't live long enough until the lease expired. May I know which area you're planning to buy for the 750K unit bcoz Bayan Baru is considered flood prone area. My taman still have a few unit they want to sell around 450K onward, PM me i'll let u know the area if interested.

If you just want to stay for 15years then sell, go for freehold.

It's nearby to the upcoming PICC project by Hunza. Was wondering if the value will increase because of that down the road? (aside from being even more jam lol). But leasehold will depreciate over time if no extension opportunity is given, right?

Agree that it's really hard to buy affordable landed.. most are over 1m and the ones that aren't are either far away or units that need heavy repair and reno to even be livable, like roof leaking etc. Your taman 450k is single storey?

Thing is, it's hard to say what's going to happen in 10 years. One of the owners also thought he is going to stay in the same house forever, but now need to sell due to changing jobs.

I've heard that flood is common, yes. Saw the occasional news before too. The ones I'm looking at seem to be on slightly higher ground and the porch is raised.
Side note, it's funny how owners and agents try to sell houses that are clearly flood-prone. One of the agents said that the house won't be flooded, only for the tenant to come up and say in 2017 the water reached above his knee lol. Another houseowner said entire taman front and back all flooded except the exact road her house is on. how is that possible?

I think it will be tough to apply for loan with only 52 years left. Even if a bank approved, the margin will be low and you need strong savings for the purchase. Not to forget you need to also set aside purchase and moving expenses.

There are no known cases where state govt acquire the entire taman but few units along main road for road expansion are norm.

My taman is double storey 20x56 and cost me >100k for the extension and reno. The area near PICC is already very jam because of the over development near relau and sg. ara.

Would you consider buying a house with remaining 37 years' lease? That may give you an idea the demand.

What about the condition of the houses?

Assuming you have bought the LH house, would you keep wondering if you should have bought the FH one? This buyer's remorse is an unpleasant feeling.

Wrt to what the agent said about LH, he'd sing a different tune if he was pushing a FH unit.

You're right, plus it would be an extra hassle to renew leases too unless the extension is given for another 99 yrs.

Actually the condition of the leasehold house is better than the freehold, because the owner for the first one put an insane amount of effort into his forever home (drawn up plans by architect and all, no longer the original layout on the inside, new everything, and it's very obvious especially the structural changes cost him a bomb), while the freehold one is owned by a typical Penangite who focus more on basic reno only 15 years ago, so at the very least touch-ups and minor reno will be needed to make it look fresh.
Hence the dilemma lol.

Can I assume you like the LH more than the FH? If so, I can understand why it's a dilemma.
It's not easy to find a house you like.

What if we reverse the situation: you like the FH more. Would you in this situation grab the FH without much consideration?

Another thing to consider is the neighborhood/neighbours.