I have been living in walk up flat almost my whole life.
In recent months, my father fall on his head and had a minor surgery. His memory is very much weaken and is too weak to walk. My mother is very old as well, although still considered strong at her age, she needs more time to climb the staires. Thus, I wish to buy a lift apartment to live with them. My salary is around 3400 basic before deductions, my monthly after deductions total is around 3600 to 3800 plus 750 rental income.

My family is living in a walk up flat in Sri Endah worth around 160k to 200k, and I have another one in Sri Kembangan worth around 200k above. I plan to sell that one, and get a loan to buy a 3 rooms lift apartment in KL with good convenience such as market, shops just on the ground floor, less than 1 hour drive to government hospital, train station. After we move in, we would be renting out the one we are living in then.

Another option is to sell both houses, get a dual key, and rent out the studio unit. But doing so, might need to rent outside during the transaction period.

I have a few questions, should I engage an agent to help me do all these transactions and loan application or DIY? What will be the price difference? I can't afford to gamble on this, so I am more toward completed unit. Is this way more expensive? Is it near impossible for my income?

imo if you dont mind dealing with renters, rent out the unit you living in and use the rental income of both house to go rent a lift apartment/condo/landed. since both is fully paid, you can fall back on those later.

i estimate rental income from house A = 750 plus house B = 750, you can rent a sri petaling condo for the price ald
when you rent, you have the convenience of moving away if the house does not suit you or when your parents are not here

bear in mind, when you buy a prop, old or new there are legal costs, taxes etc involved

added pic



This post has been edited by hightechgadgets8: Dec 7 2024, 11:53 AM

Old folks, moving as minimum as possible is a priority for me. Plus, after paying off loan, I intend to use the rental for my parents. Owning 2 houses for rental income to pay for an own stay rental seems, pointless for my current condition.

Get a 300k rumahwip after selling your house.

Edit

Rumah madani is 200k by mahsing, you can choose that one too

This post has been edited by Jazted: Dec 7 2024, 12:08 PM

Rumah wip requirement is not have any property.

My old house at setapak, setapak now many highrise also very close to HKL if the government hospital you saying close to KL compare to my current house, but setapak really not for human live , the amount of traffic and population too packed in setapak/wangsa maju/etc that why long time ago move out from this palce, if you okay can try have a look look and survey also many highway to exit also very jam even you paying toll on peak hours, I'm not those who keep buying house for investment so not sure what best for you just maybe you can have a look , good luck.

even after you sell the house you currently own?

No, I think it is not ethical to do so by selling current houses just to buy one that is meant for those who really need it.
Anyway, I wish to buy a unit that is convenient for my parents, not just affordable.

Agent POV ya:

Engage agent that specializes in the area and sell both off. One now and another later once you have moved into the new one. You can always DIY but it's always a trade off between time and money. They should advise you based on the data of the recent transaction of the particular apartment.

Going for completed unit isn't a bad thing. You get what you see. Whether got water leakage or not all easy to identify if it's completed development. Can go and tour around the area as well. The reason why you buy.

Personally, at your current salary, I would sell off both, move my parents to a rental unit (it's a renter market, plenty of choices for you) for 2-3 years, and get a new project development that I can pay progressively. Then only shift all once done . You'll have enough monetary cushion for this just don't turn into an idiot and leave your parents alone after selling the units🥲

Or rent a unit outside and take your time checking out the completed developments and selling off the two current ones.

But that's my take based on what I have read ya. As the immediate thing is the wellbeing of your parents.

This post has been edited by raymondleong29: Dec 7 2024, 04:33 PM

https://www.propertyguru.com.my/property-li...ny-tan-41590502

Too good to be true?
Freehold, mid alley, dual key.

Fake ads baiting for leads.

Btw I’ll suggest you to rent a rumawip first, 1.3k you can get a 3R2B rumawip in KL area, partially furnished if you lucky.

Then slowly sell off your unit while planning for your next ownstay property. I don’t think you can afford to wait until you have sold off your property+hunt for the next one.

Urgent hunting would mean selling at a loss, or buying at a higher price.

Hi ts. Where do you work.. And what supermarkets are you looking at? NSK or aeon or..

I work in oval TTDI, but I don't think I'll live near there. I can take train to work.
NSK in Jalan Kuchai Lama is my mom's favorite.

I have thought of selling the rental unit first, use the money as deposit to buy a new one. Move in, then sell off the remaining one to help settle the loan.

Doesnt work that way I belief. Its must be a first home purchase in KL.

From economy pov, this is the right move. If your property is above 200k and you're only getting 750 a mth, that's an ROI of 4.5% (at 200k, lesser when it's more than that) before other costs which says capital not used well.

Property only one is enough. That is also the right decision. The above example has showed you how it's much better to put in epf with a higher return.. Anyway... Topic for another day.

So our question will be.
1. Which area..
2. Possible condos.

Try to find lelong unit as well, you've the upper hand here. Some 30%-50% discount from developer selling price.

.

This post has been edited by gashout: Dec 8 2024, 08:06 AM

And how long would that take?

Can your aged parents afford to wait?

I agree with epf. However, the capital appreciation is a plus point on owning a property compared to epf. I tjink I would be at a worst situation if I dont have these 2 houses. After this, I think I'll just put everything in epf if I can get a dual key to rent out the studio half.

They didn't ask to move. This is my initial thought. I assume half a year is reasonable.