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Financial Wise to dump RM900k on 1st property? Condo

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Tan&tan
post Oct 24 2023, 08:21 PM

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QUOTE(Cavatzu @ Oct 24 2023, 05:54 AM)
I don’t think so. Large luxury mansions will always be a status marker and be desired if you have the money. Don’t think through the lens of working class. The elites are your business owners, celebrities, inherited wealth etc. if you’re a multimillionaire, you still want to cram in with other people in a high rise?
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If one menerung . Why not ?
TSTamsin
post Oct 24 2023, 09:35 PM

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Hi guys! Appreciate all the replies and I apologise for not responding earlier as I’ve been dissecting all the inputs on what steps to take next. My loan process is still ongoing, so nothing is confirmed yet.

For those wondering, my parents are planning to invest rm300k as downpayment. I wouldn’t say I come from a very rich family, only slightly above-average. Our family business was kickstarted by my late grandfather who is very wealthy. Yes, I stay in a corner semi-D landed in Melaka. My dad specifically love the idea of condo home because it’s very convenient and gives a holiday feeling.

I will be exploring bk5 and other sub sales nearby from the recommendations of the forumers here. It’s just less than 10 min from ayanna and most importantly - freehold. Previously, I’ve searched for sub sales in bandar kinrara, but I only looked at Jalan TK/DU which was leasehold and I based the entire houses in bandar kinrara as leasehold which was very foolish of me

Stirring my decisions based on the investment side on rental returns and capital gains is not my strongest point, but I entirely believe that landed is definitely on the safe side

Thanks all again for the effort to answer my doubts, I will explore more of BK this week.
Tan&tan
post Oct 24 2023, 10:28 PM

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QUOTE(Tamsin @ Oct 24 2023, 09:35 PM)
Hi guys! Appreciate all the replies and I apologise for not responding earlier as I’ve been dissecting all the inputs on what steps to take next. My loan process is still ongoing, so nothing is confirmed yet.

For those wondering, my parents are planning to invest rm300k as downpayment. I wouldn’t say I come from a very rich family, only slightly above-average. Our family business was kickstarted by my late grandfather who is very wealthy. Yes, I stay in a corner semi-D landed in Melaka. My dad specifically love the idea of condo home because it’s very convenient and gives a holiday feeling.

I will be exploring bk5 and other sub sales nearby from the recommendations of the forumers here. It’s just less than 10 min from ayanna and most importantly - freehold. Previously, I’ve searched for sub sales in bandar kinrara, but I only looked at Jalan TK/DU which was leasehold and I based the entire houses in bandar kinrara as leasehold which was very foolish of me

Stirring my decisions based on the investment side on rental returns and capital gains is not my strongest point, but I entirely believe that landed is definitely on the safe side

Thanks all again for the effort to answer my doubts, I will explore more of BK this week.
*
Bro 900k anytime bukit jalil . 1500 sf plus minus you can get rainz 800-900k . Treez . Km 1 and so on . Anytime better than bk .
Knight_2008
post Oct 24 2023, 10:33 PM

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QUOTE(Tamsin @ Oct 20 2023, 10:48 AM)
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
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If you know you are going to upgrade property after 1-2 years, don't bother buying now. either buy the upgraded one now, or buy later.

Property prices hardly moved these days, and appreciation is difficult to come by. Meantime, you will spend 4-5% of property value upfront on legal SPA, loan legal, stamp duty etc. And you haven't count the renovation cost. even basic stuff will cost, and some of these like built-in cabinets and airconds are immovable.

If you move house in 1-2 years, and you sell the property at flat price with no gains - all these upfront cost will burn (legal, stamp duty, reno).

Also consider the current mortgage rate of 4-4.5%, this is the cost interest cost you will incur. And you got to add in things like insurance, maintenance fees, etc. You rent another place for now, rental yield also probably 3%+ only. And you don't need spend upfront cost and maintenance fees not your issue. Might as well rent own place 1-2years, then only buy the upgraded place.

This post has been edited by Knight_2008: Oct 24 2023, 10:34 PM
TSTamsin
post Oct 24 2023, 11:43 PM

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QUOTE(Tan&tan @ Oct 24 2023, 10:28 PM)
Bro 900k anytime bukit jalil . 1500 sf plus minus you can get rainz 800-900k . Treez . Km 1 and so on . Anytime better than bk .
*
I was interested in the treez and rainz because of exsim. Km1 Yes, price is around that range, but after renovation, legal fees, stamp duties, misc, price will definitely shoot up above 1 mil+. Might as well get new project alrdy at this point. Can't argue that location is definitely solid, but price factor is a big turnoff
Tan&tan
post Oct 25 2023, 12:10 AM

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QUOTE(Tamsin @ Oct 24 2023, 11:43 PM)
I was interested in the treez and rainz because of exsim. Km1 Yes, price is around that range, but after renovation, legal fees, stamp duties, misc, price will definitely shoot up above 1 mil+. Might as well get new project alrdy at this point. Can't argue that location is definitely solid, but price factor is a big turnoff
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FYI rainz no need reno d . Some loose furniture will do . Easily better than bk .
Cavatzu
post Oct 25 2023, 06:51 AM

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QUOTE(Tamsin @ Oct 24 2023, 09:35 PM)
Hi guys! Appreciate all the replies and I apologise for not responding earlier as I’ve been dissecting all the inputs on what steps to take next. My loan process is still ongoing, so nothing is confirmed yet.

For those wondering, my parents are planning to invest rm300k as downpayment. I wouldn’t say I come from a very rich family, only slightly above-average. Our family business was kickstarted by my late grandfather who is very wealthy. Yes, I stay in a corner semi-D landed in Melaka. My dad specifically love the idea of condo home because it’s very convenient and gives a holiday feeling.

I will be exploring bk5 and other sub sales nearby from the recommendations of the forumers here. It’s just less than 10 min from ayanna and most importantly - freehold. Previously, I’ve searched for sub sales in bandar kinrara, but I only looked at Jalan TK/DU which was leasehold and I based the entire houses in bandar kinrara as leasehold which was very foolish of me

Stirring my decisions based on the investment side on rental returns and capital gains is not my strongest point, but I entirely believe that landed is definitely on the safe side

Thanks all again for the effort to answer my doubts, I will explore more of BK this week.
*
In that case, with a 300k deposit and something which serves as a home for you as well as a holiday home for your parents then the world is your oyster. The picture is a bit clearer and yes a convenient condo would fit the bill. Sounds like the landed is a way off if not a stretch dream. Don’t forget property is meant to serve you and not the other way round.

DragonReine
post Oct 25 2023, 11:03 AM

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QUOTE(Tamsin @ Oct 24 2023, 09:35 PM)
Hi guys! Appreciate all the replies and I apologise for not responding earlier as I’ve been dissecting all the inputs on what steps to take next. My loan process is still ongoing, so nothing is confirmed yet.

For those wondering, my parents are planning to invest rm300k as downpayment. I wouldn’t say I come from a very rich family, only slightly above-average. Our family business was kickstarted by my late grandfather who is very wealthy. Yes, I stay in a corner semi-D landed in Melaka. My dad specifically love the idea of condo home because it’s very convenient and gives a holiday feeling.

I will be exploring bk5 and other sub sales nearby from the recommendations of the forumers here. It’s just less than 10 min from ayanna and most importantly - freehold. Previously, I’ve searched for sub sales in bandar kinrara, but I only looked at Jalan TK/DU which was leasehold and I based the entire houses in bandar kinrara as leasehold which was very foolish of me

Stirring my decisions based on the investment side on rental returns and capital gains is not my strongest point, but I entirely believe that landed is definitely on the safe side

Thanks all again for the effort to answer my doubts, I will explore more of BK this week.
*
A slightly unusual/off-topic type suggestion, but if your parents want to enjoy that holiday feeling and would want to live in the condo in far future, maybe you might want to look into developments that are designed around multigenerational households.

Example of a notable developer in Klang Valley that prioritises such facilities is Sunway, their higher end products often have features like ramp in bathroom shower area, lowered light&fan switches, wider than usual pathways etc. that are more user-friendly to the very young/very old/orang kurang upaya who have mobility issues.

Features like that may be something you want to pay attention to if you expect parents or grandparents to move in or visit often. Not wanting to make assumptions about their current health, but it might be something to consider in the event of age/accidents causing mobility to decline. I previously recommended smaller units to prevent overspending, but smaller units also often have awkward narrow spaces and tight bathrooms which may not be good for mobility/safety.

Good luck with your search!
bigman
post Oct 25 2023, 11:26 AM

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QUOTE(Tamsin @ Oct 24 2023, 09:35 PM)
Hi guys! Appreciate all the replies and I apologise for not responding earlier as I’ve been dissecting all the inputs on what steps to take next. My loan process is still ongoing, so nothing is confirmed yet.

For those wondering, my parents are planning to invest rm300k as downpayment. I wouldn’t say I come from a very rich family, only slightly above-average. Our family business was kickstarted by my late grandfather who is very wealthy. Yes, I stay in a corner semi-D landed in Melaka. My dad specifically love the idea of condo home because it’s very convenient and gives a holiday feeling.

I will be exploring bk5 and other sub sales nearby from the recommendations of the forumers here. It’s just less than 10 min from ayanna and most importantly - freehold. Previously, I’ve searched for sub sales in bandar kinrara, but I only looked at Jalan TK/DU which was leasehold and I based the entire houses in bandar kinrara as leasehold which was very foolish of me

Stirring my decisions based on the investment side on rental returns and capital gains is not my strongest point, but I entirely believe that landed is definitely on the safe side

Thanks all again for the effort to answer my doubts, I will explore more of BK this week.
*
you can pay visit to SP Setia Bandar Kinrara Sales gallery ...from there you can get a good view on overall development of BK and future launching... happy hunting...

This post has been edited by bigman: Oct 25 2023, 11:26 AM
rumahwip
post Oct 25 2023, 12:38 PM

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BK 11 is good. abt 1mio now. i m guessing is abt slightly over 10 yrs. BK 12 also good but i nvr been b4
bigman
post Oct 25 2023, 01:10 PM

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QUOTE(rumahwip @ Oct 25 2023, 12:38 PM)
BK 11 is good. abt 1mio now. i m guessing is abt slightly over 10 yrs. BK 12 also good but i nvr been b4
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here talking about BK = Bandar Kinrara

your BK = Bukit Kiara?


fyi, bandar kinrara until BK9 ...no bk 11 or 12

This post has been edited by bigman: Oct 25 2023, 01:11 PM
il0ve51
post Oct 25 2023, 01:15 PM

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900k for that area too high, next time you will sell for at least 1m, which i dont think you have large pool of prospect.
with 900k if die die want condo try get 2x 450k property. you will thanks me later.
if not 900k get landed better.

rumahwip
post Oct 25 2023, 02:31 PM

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QUOTE(Tamsin @ Oct 20 2023, 10:48 AM)
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
*
when u wan to sell in the future, depend when is the future. you may not actually make money

BJ is good location. just too expensive (for me)
rumahwip
post Oct 25 2023, 02:32 PM

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QUOTE(bigman @ Oct 25 2023, 01:10 PM)
here talking about BK = Bandar Kinrara

your BK = Bukit Kiara?
fyi, bandar kinrara until BK9 ...no bk 11 or 12
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sorry puteri. sudah blur
Cavatzu
post Oct 25 2023, 04:37 PM

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QUOTE(il0ve51 @ Oct 25 2023, 01:15 PM)
900k for that area too high, next time you will sell for at least 1m, which i dont think you have large pool of prospect.
with 900k if die die want condo try get 2x 450k property. you will thanks me later.
if not 900k get landed better.
*
For his budget, either landed in a newer ulu area or a condo in a more established in demand area like MK. My reference point for old monied areas doesn’t extend beyond the 90s so Bukit Jalil doesn’t register for me. Expect this sort of elitism later on. As the other older monied areas aren’t really more expensive than these new townships.

This post has been edited by Cavatzu: Oct 25 2023, 04:39 PM
bigman
post Oct 25 2023, 04:59 PM

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QUOTE(Cavatzu @ Oct 25 2023, 04:37 PM)
For his budget, either landed in a newer ulu area or a condo in a more established in demand area like MK. My reference point for old monied areas doesn’t extend beyond the 90s so Bukit Jalil doesn’t register for me. Expect this sort of elitism later on. As the other older monied areas aren’t really more expensive than these new townships.
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Why cannot buy both?

Got money...every where can buy...regardless old money , new money, no money, hot money...
rumahwip
post Oct 25 2023, 05:42 PM

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ada uang semua bisa
Cavatzu
post Oct 25 2023, 06:59 PM

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QUOTE(bigman @ Oct 25 2023, 04:59 PM)
Why cannot buy both?

Got money...every where can buy...regardless old money , new money, no money, hot money...
*
The whole point of these threads is what is the most efficient thing to do with limited resources. This is not helpful. When you have unlimited resources of course you can do anything you wish. You may have a lower budget, an average or above average one. Regardless, there are always going to be important decisions to make. Rich people do not get there by intentionally making stupid mistakes.

It might not matter to you but old money always ranks above new simply due to experience like any other job. This will play out in Bukit Tunku wealth vs Cheras money for example. The gulf between upper and lower class areas in KL is relatively low - maybe 50% to 2 times more than average price. In a developed city this can be 10 times or more.

There are Malaysians in Damansara Heights who have never stepped foot into a mamak and instead have French patisseries all their life for breakfast. They play polo and are season patrons of the MPO. It’s a very different existence. But better the devil you know.

This post has been edited by Cavatzu: Oct 25 2023, 07:23 PM
Tan&tan
post Oct 25 2023, 08:23 PM

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QUOTE(Cavatzu @ Oct 25 2023, 06:59 PM)
The whole point of these threads is what is the most efficient thing to do with limited resources. This is not helpful. When you have unlimited resources of course you can do anything you wish. You may have a lower budget, an average or above average one. Regardless, there are always going to be important decisions to make. Rich people do not get there by intentionally making stupid mistakes.

It might not matter to you but old money always ranks above new simply due to experience like any other job. This will play out in Bukit Tunku wealth vs Cheras money for example. The gulf between upper and lower class areas in KL is relatively low - maybe 50% to 2 times more than average price. In a developed city this can be 10 times or more.

There are Malaysians in Damansara Heights who have never stepped foot into a mamak and instead have French patisseries all their life for breakfast. They play polo and are season patrons of the MPO. It’s a very different existence. But better the devil you know.
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Sorry to say you talk like you’re there , if you’re there , you won’t be here . If you’re not there how you know they never step in mamak lol 😂
bigman
post Oct 25 2023, 09:55 PM

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QUOTE(Tan&tan @ Oct 25 2023, 08:23 PM)
Sorry to say you talk like you’re there , if you’re there , you won’t be here . If you’re not there how you know they never step in mamak lol 😂
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Want step in but not qualify… wat to do… come here to show off and bossing here and there… anyhow… me personally won’t desire those so called high class life style (gamnang style?) doesn’t matter old money or hot money… our time in this reality world is same… you won’t get extra one second even though you richer than me…

I happy with my life … and I never begging for penny from those old money … just live happily and appreciate what you have … no need envy on those old money … bukit Tunku so wat… I no need extra build up of house to make me sleep well…

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