my locations is at penang,
currently im thinking to buy a house, so far i see a condo quite nice, but the house is small, 670sqf and 1 bed room only, the price is 150k, do u guy think it worth?


currenty i have 2 choice in my mind,


1st: 670 sqf with 1 bed room only, price is rm150k

2nd: 1030sqf with 4 bed room, price is rm200k

i know it is better to get the bigger house....but the extra rm50k will cost me tigh evermonth....


i seek those people who already buy house can help me on some advice... base on your experince and maturity...



another one, im only 23 years old, so is it posible that i can have my loan for 40 years?



serious talk only

i think you're in a wrong thread...


but... ur 23.. still very young... but a house is for future... 1 bedroom will never be enough for a family. dun tell me u intend to buy another house after u have a family.

for a mere $50k increase for nearly double the house size, u do the calculation.

where should i post this thread? can mod plz move for me? thanks

Do your research first

1) Value of the property and neighbourhood. Are there any potential development in the area?
2) Is the property in demand? Good for rental?
3) Are there any schools/colleges/malls nearby? If there are, then it would be worth it.
4) single room house is good for single people or newly married couples. But for Rm150k for just one bedroom (single storey?) is not worth it, unless it is located in a hot property vicinity.
5) Condos/house can devaluate over time, make sure you know the market value and future developments in the area.
6) Freehold or leasehold?
7) Max loan you can get is 30years.
8) Would you want a full term fix blr or a normal loan with fixed blr at the first 5 years? The former makes your installment calculation fixed and need not worry (but higher interest rate), while the later is only steady for first 5 years and may shoot up depending on market values, but also allows you to dump as much money in as possible (and also to withdraw it) to clear off your principal ASAP.

My2 cents

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Added on November 20, 2007, 9:40 amIs it for rental or you plan to stay there?

This post has been edited by happy4ever: Nov 20 2007, 09:41 AM

1st: 670 sqf with 1 bed room only, price is rm150k

2nd: 1030sqf with 4 bed room, price is rm200k

u plan to buy the 1 bed room to stay for the rest of your life?
u still young, so long way to go...... buy bigger house la
another 50K get bigger house, ur salary i assume that will increase from year to year

shd move to property talk

stay there.... not for rental....


the condo have 330unit... that wat make me worry about... too many unit....i scare no meather how high class condo also will turn cheap after 10 year....

why izzit so expensive? even a 800-900sqf condo (with pool, gym etc) 3 bedrooms 2 bathroom in KL costs around RM160k (depends on which part, i mean cheras, last year price)....

if u want me to choose in between that 2, i'll choose the second. Because it got more space and rooms. 1 room will never enough i tell u...
I dun think there's 40 years loan, at most usually 30 years...
Have u calculate 10% downpayment + lawyer fees (200k hse could have fees above 5k) + renovations + furniture.

Btw, there's is a property forum..

Yea, try there. PM a mod to move this to there.

BTW, the condo also have a monthly maintenance payment.
Some as high as RM100 a month or more, and very limited parking lots.
Worse if you have visitors and their cars will clog up the road and kena saman.

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Added on November 20, 2007, 9:52 amAnd if you plan to rare pets like this in the future:

(is this a cavalier? like mimi!)
Go get a house. But look for a bigger but cheaper house.

See the classifieds la...if you are in luck, you may get a good deal if the owner is in a hurry to sell it out.

This post has been edited by happy4ever: Nov 20 2007, 09:53 AM

yes i find biggest headache is parking in apartment lots, first year ok , 2nd bearable, full occupancy that time sheesh outside also no parking ...

And have to PAY EXTRA for additional parking lots. Some apartments/condo need you to line up to buy these extra lots for a short period of few months, and on a first come first serve basis.

Good thing the apartment i'm staying has lots of land to park outside for free.

i heard got sum place have to pay like 10 - 15K for the lot that was originally allocated to the owner after XX years... or else theey sell to other ppl ... was in the papers

yea, i agree with the limited carpark.

where is the location specificaly? i know penang...

seaview condo...

thank you, i can see where is it...on mount pleasure....good view, very good for the eye

next question is where do you intend to work? around georgetown area? wat bout in next 4-5 years in georgetown also....
if you intend to work at bayan lepas...woho...trafic jamm.....and if you decide to rent it to the ang mo then it is another story.....

btw, seaview only cost 200k at tanjung bungah...very hard to believe also..better check the quality of the civil work....

and 200k of house and loan for 30years, the installment is about 1k per month...make sure you earn 3k first....!!good luck

no la...seaview at bw la....

i'm 25 and i was able to get 40 years but i rejected the bank's proposal, took 20 years with my wife instead...

so, that mean it is first property with 674 sqf is rm224 per sqf, which is quite expensive to me.
second property is rm 194 per sqf, which is cheaper theoritically compare with first type.

The question now is, how much mortgage loan u gonna get from the bank and duration ?

Lastly, u said the second house is 1040 sqf with 4 bedrooms, dont u think it is too small for the buildup concept for the room ? i believe two of the rooms can only place a single bed, but of course it still depends on the architectural design of the unit.

well, top to bottom, i believe too that both are leasehold in penang.

conclusion, i suggest u have a round talk with your family members since u are still pretty young.

Thanks

This post has been edited by a6meister: Nov 20 2007, 12:32 PM

nop...it is free hold........ i nv will consider leasehold...


also, 23 is not a young age, many of them already drive benz