Seeking advice from veterans here. I'm 28 this year and in the process to purchase my 1st property with the help from my parents. I am planning to buy a 1.6k sqft unit (ayanna residence) in bukit Jalil. What bothers me the most is the extremely huge amount of money thrown in here and I would like to sell it in the future to purchase a bigger house upon nurturing my family growth, as I'm planning to tie the knot in 1-2 years. I have asked my friends and people around me about the pros and cons of the property. Some say location its good, some say its bad. Why buy such an expensive condo when you can get a subsale landed at a cheaper price? Condos are the worst investment, you will definitely lose money and the list goes on.

The reason why I chose this condo because of its price and location, nothing more. Its close to the highway for me to travel to my hometown in melaka and go N9 & Shah Alam for work. Going to central KL/PJ will be a hassle, but I'm willing to sacrifice for the latter options. Food, mall and other amenities is near me, so I can ease in my new life here in BJ

Back to my question, is it wise for me to dump such an amount for a condo? I'm very worried that I could be making a disastrous choice, but houses are getting so expensive in KL and apparently the norm to obtain a 1k sqft+ property condo is already starting at 600k+. It is my 1st property and I don't want to make a bad decision that will affect the rest of my life thinking that I could have used the money to invest in business or something more worth

900k better buy intermediate terrace in bk5.

not too far from bukit jalil and landed appreciation is better. high rise is very oversupplied now.

why dont go for lelong property can get much cheaper.
and, first property usually people will make it as an investment asset which come with lower cost & higher return.
now, you may do your own judgement on it

Well, 900k for a condo not in the city center - i think not a wise choice .... 900k still can get lovely landed house. Not sure how much can a condo appreciate in that area. To Rent condo later is probably easier than selling high-value condos.

I suggest you get a lower value property(condo) because your planning to sell in future - just say RM500-600k then after 10 years it appreciate to just say 900k-1m then its easier to sell - but if you already bought for 900m and next 10 years it will be around 1.3m for me i think it would be hard to sell at that price .

This is just based on current economics and experience in buying and selling property.

And I think getting landed property while we still can afford is an opportunity because maybe in 10 years it would be very hard to buy landed property in urban areas, as prices would be mad high.

This post has been edited by vin6: Oct 20 2023, 11:01 AM

Around BK5 are better choice...
Even Around condo KL could could get 1 at 900K price tag. WHich has more buyers to play around
900K condo at that area, probably has no space for the price to go up anymore...

One should buy affordable unit and trade up with rising income. jumping into overpriced unit is almost certain will be trapped in mortgage prison like many others.

This post has been edited by icemanfx: Oct 20 2023, 11:22 AM

hmm where is your office?

Own stay ok, if don't bother about capital appreciation.

BU9 condo, 12 yrs ago my fren bought 1.2mil, now also still 1.2mil.

How about 1200sqft? If it's enough for you there are new condos around Sg Besi, Desa Tasik, Cheras can get around 500-700k. Better location. For me 1200sqft is enough already with 2 kids max. 1600sqft for a condo is considered enormous.

At that price point better to buy a landed if strictly talking about preventing loss of value.

How much are your parents contributing and will they be moving in with you? That may affect your purchasing decision. If your parents are encouraging you to buy this specific project with a significant cash deposit, then you will have to consider if this house really is for yourself, or your parents just tumpang your name to buy something they want through you (because your age can get long loan tenure compared to retiree/near retirement parents). If like that, you might not have much choice on whether this is good property or not, especially so if you'll be bringing them into the house as well.

If they're just passively helping you buy without really caring about location/project/type etc. AND you do have some conscience/filial piety about making use of their gift money wisely, I would advise either:

1) buy cheaper, but smaller high rise (approx 850 to 1000 sq ft). As you've mentioned that you're only marrying 1-2 years later, a small home is less of an issue until your child (or children) get older. Wouldn't aim for super new launch construction in this case, more important to get a home that you can move in before or soon after you're married.

1.6k sq ft IMO is somewhat excessive for a new family unless you have other dependants (parents etc.) moving in and/or you're 100% sure you're unlikely to move from your job location for a decade or so. For comparison, an average single storey landed is approx 1200 sqft - 1400 sqft for the LAND parcel size, not the built up (liveable) size.

Unless future spouse wants large home AND planning to chip in, no point buying excessively large but burdensome property since you yourself unsure of whether it's an ok investment.

Consider also that a larger unit = more maintenance fees, since your lot is larger so your total maintenance fees per month would be higher. You also need to spend a lot time cleaning and keeping home clutter free, unless you can afford maid.

2) buy an older landed property that meets your requirement for size and location. At that price range, there's still a decent selection out there, just bear in mind consideration of renovation and fixing up older things etc.

This post has been edited by DragonReine: Oct 25 2023, 10:47 AM

Current property situation , anything above 500k only buy for own stay if can afford , not for investment .

Don't listen to them if they say better buy landed. Landed ain't better, is the location is bad for your convenience. 900k for a landed at Elmina is no better than Bukit Jalil condo, even it's bigger.

I look at investments similar to any stages in life that we go through.

Take small baby steps. You dont simply skip to additional mathemathics in primary school. and you dont straight buy a BMW the moment you graduate.

Although you MAY be able to afford it, but its crucial for you to start small. So that even if you made a mistake, your mistake is small and you can easily get back on your feet.

In the future, you can always upgrade. But downgrading is much harder, especially when its in a huge loss.

Just my 2 cents.

Just rent lah
Buy for what since you know it’s not what you want and it’s just to serve a temporary need.

I don’t think the rental can cover installment so it’s not an investment; it’s a liability.

You want milk don’t buy the cow. You *can* buy the cow doesn’t mean you should. Also you’ll have to deal with the cow dung.

1600sqft condo wont be easy to transact in secondary market if you wanna make some money from it... be it KLCC area or BJ area... lol... better consider to stay in it forever if you reli wanna commit this much for first house...

buy small condo 800sqft @ 300/400k, keep rest for next investment

later can rent out if not using yourself

This post has been edited by hightechgadgets8: Oct 20 2023, 12:27 PM

If your parents can give you a 900k property, BUY !

If you have to work your axx to pay the instalment, DONT.

At 900k, landed bro , get landed...

If got that much cash and super like BJ area, just buy subsale, cheaper and plenty of choices. Paying 1.6M for a condo in the suburbs, really siao.

Wise if you can you annual income 1M...that one okay