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Investment Can Millennials Still Afford a House in Malaysia?, rising property & stagnant salaries

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ItsJustheOne
post Feb 21 2025, 10:20 AM

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QUOTE(autodriver @ Feb 21 2025, 08:39 AM)
For new double storey house now the medium renovation already cost about RM100k - 150k and new house no repair needed. If buying sub-sales old house in 10 years time with renovation and repair it is easily cost RM200k.

My new neighbour haven't move in yet and I bumped with him once and chit chatting. He told me the house he bought double storey (small size) next to us the repair cost alone already cost RM150k. The repair things are the roof, 2nd foor ceiling, water piping, re-wiring, front yard awning, auto gate set etc. The house is nearly 30 years old and many things need to fix. Imagine the next 10 years the cost is easily up 20-30% especially the labour cost is getting higher compare to material cost.
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Wow, RM150k without furniture yet? Can help ask him what else he did so far? That sounds almost exactly like the things that I would be doing once I move in to my new subsale house I bought near Subang. It's almost 20+ years old as well. I was hoping it would be around RM100k for tiles, re-wire, plumbing, fix rooftop, autogate. Won't be needing awning or any back extension so far. Just the internal components are the ones which are important for now.
autodriver
post Feb 24 2025, 08:31 AM

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QUOTE(ItsJustheOne @ Feb 21 2025, 10:20 AM)
Wow, RM150k without furniture yet? Can help ask him what else he did so far? That sounds almost exactly like the things that I would be doing once I move in to my new subsale house I bought near Subang. It's almost 20+ years old as well. I was hoping it would be around RM100k for tiles, re-wire, plumbing, fix rooftop, autogate. Won't be needing awning or any back extension so far. Just the internal components are the ones which are important for now.
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I hardly answer you about this because I only bump with him once.

Btw I have some opinions.

Re-wiring. If single phase maybe below 15k can entiring house re-wiring plus hacking wall. My friend got a sub-sales house with 3 phase and he was doing re-wiring about RM20k last year. Since you got landed house you can consider 3 phase wiring to prepare in future you may have EV car (even if no now).

Plumbing. I have no idea but I think maybe RM10k for repair.

Fix rooftop. Repair only the price should below 10k but if need of new roof tile and structure maybe 20k or more. I did ask last year because thinking of repairing rooftop.

Plaster ceiling on 2nd floor - entire 2nd floor maybe need about 10k +- just guessing.

Autogate - Since you doing re-wiring the workmanship of putting armoured cable can get discounted. New gate and system maybe cost you 15-20k.

*for wiring you can buy your owe cabel and ask the contractor to use it. I got a contractor friend he suggest use the Mega brand which is long lasting and good quality compare to many Chinese brands or unknown brand.
anakkk
post Feb 24 2025, 08:34 AM

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Millennials have more ways to earn money compared to older gen, sure can.
nauticat99
post Feb 24 2025, 08:49 AM

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When we moved in to our newly built double storey house around 7 years ago, the renovation- built-in cabinets, tiling for back yards, kitchen wet works, electrical, a small extension already cost 150k. My friend redone her 30 years old house cost her 300k. All these before Covid when materials and labour cost is much lower than now.
ItsJustheOne
post Feb 24 2025, 10:45 AM

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QUOTE(autodriver @ Feb 24 2025, 08:31 AM)
I hardly answer you about this because I only bump with him once.

Btw I have some opinions.

Re-wiring. If single phase maybe below 15k can entiring house re-wiring plus hacking wall. My friend got a sub-sales house with 3 phase and he was doing re-wiring about RM20k last year. Since you got landed house you can consider 3 phase wiring to prepare in future you may have EV car (even if no now).

Plumbing. I have no idea but I think maybe RM10k for repair.

Fix rooftop. Repair only the price should below 10k but if need of new roof tile and structure maybe 20k or more. I did ask last year because thinking of repairing rooftop.

Plaster ceiling on 2nd floor - entire 2nd floor maybe need about 10k +- just guessing.

Autogate - Since you doing re-wiring the workmanship of putting armoured cable can get discounted. New gate and system maybe cost you 15-20k.

*for wiring you can buy your owe cabel and ask the contractor to use it. I got a contractor friend he suggest use the Mega brand which is long lasting and good quality compare to many Chinese brands or unknown brand.
*
So about RM20k for doing three-phase wiring, then RM15k for roof...then RM10k for autogate...then bathroom retiling and change toiletbowls/sinks (if old house) another RM20k for let's say 3 bathrooms. Damn the cost sure adds up
PAChamp
post Feb 24 2025, 11:00 AM

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QUOTE(nauticat99 @ Feb 24 2025, 08:49 AM)
When we moved in to our newly built double storey house around 7 years ago, the renovation- built-in cabinets, tiling for back yards, kitchen wet works, electrical, a small extension already cost 150k. My friend redone her 30 years old house cost her 300k. All these before Covid when materials and labour cost is much lower than now.
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By your experience, if just the kitchen cabinets, wardrobe and other built is plus plaster ceiling, how much?
Bananahead
post Feb 24 2025, 11:59 AM

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Why can't afford?
As long as you're willing to settle for pr1ma, or consider leasehold and those located at not so great locations, I don't think it's that difficult to own a house.

Look at scientex houses for instance, so damn cheap.
Jazted
post Feb 24 2025, 08:49 PM

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QUOTE(Bananahead @ Feb 24 2025, 11:59 AM)
Why can't afford?
As long as you're willing to settle for pr1ma, or consider leasehold and those located at not so great locations, I don't think it's that difficult to own a house.

Look at scientex houses for instance, so damn cheap.
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Scientex nowaday already selling from 4xxk

Pr1ma range from 3xxk to 5xxk.

This post has been edited by Jazted: Feb 24 2025, 08:50 PM
ahkit123
post Feb 24 2025, 08:57 PM

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QUOTE(Bananahead @ Feb 24 2025, 12:59 PM)
Why can't afford?
As long as you're willing to settle for pr1ma, or consider leasehold and those located at not so great locations, I don't think it's that difficult to own a house.

Look at scientex houses for instance, so damn cheap.
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Yes, very affordable compare to other country
icemanfx
post Feb 24 2025, 11:47 PM

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QUOTE(ahkit123 @ Feb 24 2025, 08:57 PM)
Yes, very affordable compare to other country
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It is poppycock and ignorant to compare with other countries as income is different.

icemanfx
post Feb 24 2025, 11:49 PM

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QUOTE(nauticat99 @ Feb 24 2025, 08:49 AM)
When we moved in to our newly built double storey house around 7 years ago, the renovation- built-in cabinets, tiling for back yards, kitchen wet works, electrical, a small extension already cost 150k. My friend redone her 30 years old house cost her 300k. All these before Covid when materials and labour cost is much lower than now.
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QUOTE(ItsJustheOne @ Feb 24 2025, 10:45 AM)
So about RM20k for doing three-phase wiring, then RM15k for roof...then RM10k for autogate...then bathroom retiling and change toiletbowls/sinks (if old house) another RM20k for let's say 3 bathrooms. Damn the cost sure adds up
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With more prc contractors available, renovation price will likely be competitive.

nauticat99
post Feb 25 2025, 01:03 AM

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QUOTE(PAChamp @ Feb 24 2025, 11:00 AM)
By your experience, if just the kitchen cabinets, wardrobe and other built is plus plaster ceiling, how much?
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Depends on the wood quality, size and how many rooms or areas needed. For us, it’s about 70k - 4 bedrooms (built-in all the way to the ceilings for 3 rooms and a walk-in for master’s room), dry and wet kitchen cabinets plus worktops, living room tv cabinets and shoe cabinet at the entrance. No plaster ceilings. There were some residents who did group buy and the quote is much cheaper but so is the quality of materials.

This post has been edited by nauticat99: Feb 25 2025, 01:05 AM

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