Hi everyone,

Would just like some of your kind advice for my current situation:

I bought an older condo early this year with the help of my parents for half of the down payment, the condo in question is Tropika Paradise in USJ 17 Subang Jaya.

Bought it for RM400k+ and my monthly repayment is now RM1,680 per month with the maintenance fee being RM330.

The condition of the interior is okay but it's a bit dated and old, so if I were to stay there I have to renovate the place which will have another major cost.

I'm having a bit of trouble deciding whether I should rent this out or slowly save for the renovation cost and live on my own, as right now after paying for the installment and maintenance fee, I find it hard to save.

Just trying to look for your point of view, if you were in my shoes. I have a bit of reservation with renting as I already bought some nice furniture's for it (which is still being kept in the store, as we have asked them to deliver it when I'm ready to move in) and I'm not sure if I am able to handle it if I get a bad tenant.

Thank you.

Personal opinion. Don't put anything nice if you are renting it out, its gonna get worn out, regardless of good tenant or bad one.

And renting out is almost always a gamble, could be stress free and pleasant, or an absolute nightmare that you have to deal with.

If you think you can handle the risk, rent it out. Otherwise try to focus on how you can increase your income instead.

My 2 cents

Personally I would just find another place...

But since you're like having very tight financial....

No choice, need to stay put first before you get better financially...

Old condos, don't waste time doing renovation... Not really worth... Because another 10 year sure another bigger problem.... Condo is not for long stay... 30years max after VP... Which all major problem would pop up... & Burnt your pocket

Appreciate the feedback

Currently you are renting, family home?

What was your original intend buying into this prop?

Ya, decided to just stay put and maybe rent it out to at least be able to save more first.

Always wanted to have my own property, but now after experiencing it, reality really hit.

And would you be able to share more about why condos are not for long-term? My first time hearing it actually

Ya, staying with my family.

Intention was for own stay, I've always wanted my own space since I've been staying with my family from young till now.

depends on whether the rental can cover your installment + management

if way below, better renovate it then rent out

if still cant cover, then better own stay

Mostly it's leaking problems from upstairs floor...

It's would get bad to worse... If your upstairs neighbors is uncooperative...

Hair line cracks on walls (sometimes even bigger)...

This post has been edited by nexona88: Dec 4 2024, 05:07 PM

You might be able to cover your installment since not many available units for rent based on quick searches at places like mudah.my and propertyguru. Get a good agent.

Thanks will do 🙏🏻

From what I calculated it should be able to

Other problem would be looking for a good tenant 😅

Thanks for sharing this 🙏🏻

if can rent out and can cover, dont wait

Keep one room to yourself and rent out the others. You still get your own place but just with housemate.

Will it defeat the purpose if you stay in and rent out rooms only (maybe single only/ each) while setting up your own space? Survey, shop, fit out is a good experience.

If that is doable, just start with minimum reno ie fresh coat of painting, wet works, plaster ceiling (If necessary) c/w lightings, ac/ water heater only.

Slowly do up the rest. You can leave cabinetry last.

This post has been edited by jojolicia: Dec 4 2024, 06:53 PM

Condo once hit 10 15 years, design is old and you cannot make any changes to it. Even if your unit reno until like Palace, the condo is just Old.

Price will be stagnant. People will move out.. Lots of costs to repair this that.

Sell.

Yes I have considered renting the rooms to other people.

But personally I don’t really like staying with strangers and I’m a person that needs their own personal space 😅 that’s why it’s not something that I’ll likely do

But thank you both for the suggestion, I appreciate it greatly 🙏🏻

Just to add on, the rooms and the living rooms are fine. Only the toilet and the kitchen needs a good refurbishing.

Wahhh..

I put around 30 year...

Your 15 years.... Give chance boss 😜

But basically yeah.... Condo not really good investment... More cost to maintain after certain period... Issues here there...

only those at prime location shine, like those old building in Damansara or mount kiara. The sinking fund will use to repaint the building every 10 years.

Most of the other area same as you mentioned, last 10-15 years only, some management run away with the money.