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.

property and capital appreciation is contestable these days, see lelong units already can know how the capital isn't appreciating but depreciating.

anyway, just wanna say you are a good son, and God bless you for looking after your parents.  :thumbsup:

im interested to see what condo would people recommend - i still think plenty of condo available that is walking distance to mrt (that is covered), so your parents' safety is looked after as well.

Well if they still can climb the stairs then it’s fine.

But half a year to sell and buy another unit is not realistic.

You’ll need at least a year to sell your property, unless it’s a fire sale and you can attract buyer quick enough. And you’ll need time to hunt for the next property as well. Undercon is completely out of the question and you can only go for subsale or leftovers from newly vped project.

So in total you are looking for at least 1-2 years of waiting time before your parents can move in.

Can they wait tho? What happens if halfway they suddenly can’t climb the stairs? It will be problematic to move them out last minute.

Just my 2 cents.

Try find medium cost apartment. Condo not reli affordable these days.

400k loan repayment 1700 per month.

Try find medium cost apartment. Condo not reli affordable these days.

400k loan repayment 1700 per month.

I'm not getting 400k loan.

Well if they still can climb the stairs then it’s fine.

But half a year to sell and buy another unit is not realistic.

You’ll need at least a year to sell your property, unless it’s a fire sale and you can attract buyer quick enough. And you’ll need time to hunt for the next property as well. Undercon is completely out of the question and you can only go for subsale or leftovers from newly vped project.

So in total you are looking for at least 1-2 years of waiting time before your parents can move in.

Can they wait tho? What happens if halfway they suddenly can’t climb the stairs? It will be problematic to move them out last minute.

Just my 2 cents.

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

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.

We’ll need to look at this wholistically.

The entry price of the investment could have been lower- hence apart from rental income there is appreciation of the asset value.

At the current market value of the property the Return on value doesn’t seem to be very attractive - 4.5% kr maybe even 4% after expenses. ( which honestly isn’t too bad) nevertheless I assume the value has increased over the years.

I have somewhat a similar walk up flat in w/maju: entry price was rm 90k in the 2004. Rental started off at RM 530 ( 30 for maintenance) and stands at RM 980 now. I can easily dispose of the property for rm 180k. My returns on value has reduced based on %vs value but not t has always hoovered around the 6% range. I spent about rm 12.5once in 2014 to completely revamp the bathroom/tollet, kitchen and flooring.

So if one does the right purchase - property can be very rewarding

And I don’t believe - Lelong property must be cheaper than developer price - it must be cheaper from the current market value of the property on that area.

Get a 300k rumahwip after selling your house.

Edit

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

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?

looking through all your replies, here is my observation

1) you and ur parent stay at sri petaling for long long time already, to ensure the life not much changing, suggest you to stay near by neighborhoods - sri petaling, kuchai lama, oldklangroad and etc.

2) downstair got shop & Market is real cool living experience, but somehow i feel the premium is too high, try to check out
  - Seventeen Mall condo PJ section 17, down stair got grocery, wet market, opposite got chinese kopitiam
  - pinnacle sri petaling, same concept
  - kuchai sentral , same concept

the sales price & rental is on the high tier, tbh i also like those so so much, but i not willing to pay those premium, i call it luxury lifestyle.

3) i know everyone want to give their family the best, but sometime the effort is too much, life is short, let not over stress our finance and let make our life more easy. nobody will blame you as you already doing your best.

4) why not try rent a ground floor or 1st floor Sri Endah unit? could be abit premium like RM400-500++, but life stay almost the same, neighbour also still same, can be easily post to your community group to ask.

you are really a very good children, your parent will proud to have you in their life.

Handling tenants is troublesome. I would sell for peace of minds

Rumah wip requirement is not have any property.

Wow ur a beacon of hope in the current world we live in

Ok firstly what U can do is increase the rental to market rate and add in some furniture to maximize Ur rental. Then ensure to have a tenancy agreement then the bank will consider 80 pct of the rental as additional income. So loan I don't think would be an issue

Secondly, we are now only about a year in recovery. Probably another year more and then the top of the economic cycle for another 2 to 3 years estimate will be there. If Ur selling now, potentially Ur giving up some decent profits coming up. Go back and check out how property prices increased after the last recession in 2008. Remember circa 2011 to 2014 which was after the recovery in 2009 and 2010 (2 years also)

If U want to explore a little bit outside can try Bukit Oug Condo which is an old building but U can get a 3 bedroom 1222 sq ft which is decent space for about 320k right in front of the LRT station

There are other options too