this are a level lower than a scammer. buy house under own research, and/or get at least with reputable developer. My experience, UM Land the best for quality, better than Sime Darby anyday, 2 units under UM Land never had any quality issue

all developer is the same, all done by bagala. I don't like owning property for investment, sometime the maintenance can kill your cash flow.

owning property get loan easier, other investment like stock difficult

Fuh takutnya baca macam ni pun ada

Kesian owner yang kena defect tu

I've never experience buy new unit

Both unit i bought sub sale plus Flat & Apartment

BTW TS may i know what's your intention to buy this house

For own stay or for rent cause its huge

TS = me or the latest poster?

That house for own stay

yeap.. and good properties in good locations are expensive.. but better buy expensive than buy wrong

the days of buying under construction prop and flipping for a quick gain are over.

What's your worst property purchase?

this is my story of my journey, pain and frustration of my worst property purchase, lessons learned will be shared below. I wanna rant here cause my lorong neighbour today lelong off their unit at below market price.
this is my second property I purchased (also my first landed house), so I was relatively new to this prop thingy. a real newbie
I bought from stupid IOI during early 2015 and is in IOI Bandar Puteri Bangi @ Teresse 2. during that time, they are doing pile foundation on the site



bought it at MYR769,000, with 90% loan for 35 years, that amounted to MYR699,000. Topup 4% @ MYR31,000. Got a discount of 2% from IOI Club platinum membership (cause bought more than MYR2,000,000 of prop value from them), another 2% discount from events promo (CNY that time buy) and another 2% discount from referral (extended family referral fees pass back to me for down payment).

now here's the shittiest part, after 7+ years, the house value never increased but decreased. why? there are so many unsold units, and the developer are trying to sell them off ASAP. so they throw in some ridiculous discounts.
eg. take bumi lot for example, 7-10% discount over the years (CRAZY!), then raya/cny promo 4-5% off, referral scheme another 2-3%, IOI club membership 2%. total discount is almost 20%. that is -20% of the original house value, so  people are buying at around MYR630,000 for my unit type post CCC for those unsold units while I bought it at MYR722,860. that's more than MYR100,000+ difference and it's so unfair. it pull down the property price. and to make matters worst, IOI introduce a scheme during MCO. BUY NOW PAY LATER, loan is under IOI. so they buy the prop and dont have to pay loan for 5 years. CIBAI!



so many people buy those props, but never move in ... until today. so what happened? well.... they cant pay back the loan, so banks lelong it at stupidly cheap price, like 40-50% below market value. then people started disposing it -10% below market value too.



as you can see from the screenshot, the property is already overpriced, stupid developers made it fucking worst. a 7 bedroom, 7 bathroom 3,300 sqft unit 3 story terrace house 1KM away is CHEAPER by MYR100,000. 

now you might tell me, just wait till the value appreciates and dispose the unit. meanwhile rent out.
well, renters are hard to find in that area cause they are spoiled for choice. like i would wanna rent in that 7 bedroom 7 bathroom house 1km away, which cost MYR1,800/month. meanwhile my taman rent is 1,900 cause have to offset installment to bank which is around MYR3,600/month. so rental is slightly more than half. so what my creative neighbour did is to partition up the entire house, 3 bedroom downstairs, 3 bedroom upstairs and rent the rooms out for MYR400-600 to cover the installment. but that barely covers the full amount and there are only 3 renters at the moment. sad shit

so i am stuck in a dilemma, cant rent out (too low rental and too many competition, not enough renters), cant sell (-10% market value now, brand new house -50% value), and if wait until full loan tenure then sell off, i would be actually paying MYR1,512,000 (total payment with principal and interest). i will be paying MYR882,000 in interest over 35 years, and i doubt capital gains can cover that.
also this property have so many defects, some of my neighbours have their roofs fallen on their heads, leaking everywhere, huge cracks and even hollow garage due to soil erosion. the developer sucks in marketing as well as workmanship too
this prop is beyond fucked.


Credit: neighbour's house. this shitty IOI developer workmanship sucks beyond belief. complain to MPKJ already, developer still dont wanna fix

so my lesson learned:
1. avoid small and medium size developers. and for the big fish developers, in my opinion and experience, only Sime Darby, Glomac, Tropicana can be trusted. the rest like Mahsiao, IOI, etc. can eat shit
2. dont trust sales agent, dont trust marketing gimmicks. a property is your biggest investment in life, do your research gao gao. if possible, price check on every single property and future developments around a 5km radius. dont slack up, cause developers love to upscale, oversell and overprice their properties.
3. track record and reputation of a developer is important. if the developer has multiple red flags before, avoid that developer at all cost no matter what.
later i post some defects of my neighbour's house. see also wanna cry

This one was my "worst" purchase because grow jungle very fast:

sime darby face-job do very well, cover bagi cantik2, grand grand, but house-job like shxt...   
lesson learned, so call multi-awarded property company..

bought a unit in 2013 at 230k price
now 2024, unit still around 250k
target can get 345k-460k after 10 years
loan also like not moving the principal.

Lokos like bank is laughing the most in poorperty investment, others all kena makan by banker.
but no choice, still need a house.

Which project? Location? Some details please.