I'm eyeing a very beautifully designed and landscaped property. It's a corner lot double storey terrace house located in Skudai, JB. It is previously a show house. When it goes on the market a year ago, it cost RM395k. Half a year later later, the developer reduced it to RM350k. Lately, the price dropped to RM320k only. Why is it keep dropping, I do not know, but I think it is a great bargain. The front neighbour also said it's a very good buy cos it comes with everything already. The whole residential area is facing a golf course so it gives a marvelous view from the house

I would like to gather your opinion 1st before I make my purchase. I'm willing to hear any negative or positive criticism. Thanks

knwong,

What is the price for similar and bare unit within the same project?

price drop might be the actual value surrounding the area is not going up .........be careful ohhh

Hi knwong,

the house is sold by developer or second market?

not many possibilities if a house price keeps dropping... maybe the seller is extremely desperate? or there's something wrong with the house, some feng shui problem or something?

yeah, like Pai said, what are the prices around the area for the same size as the show unit?

The price for the similar unit is RM 189,800.00 onwards . Built-up area approximately 1,920 sq. ft.
Dimensions: 22' x 70'. For the corner unit, price may go up to 250k - 300k depend on the size.

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Added on March 21, 2008, 10:33 pmThe house is sold directly by the developer. New unit. Feng shui wise I think it is not too bad. The house is backfacing a small hill and in front of the house, there's a small river or drain flowing - separating the residential area and the golf course resort. I too wonder why it hasn't sold out by now.

I heard from my relative that houses in Malaysia are oversupply, hence price drop at the moment? Probably will raise up again after this recession period?

Anyone ever bought or invest in a show house? I heard the decorations and furnitures are of low quality type. Need someone to clarify.

knwong


This post has been edited by knwong: Mar 21 2008, 10:33 PM

your stated purchase price is quite confusing to me, cause u said the same corner lot is 250 to 300k. i guess it is not the only corner lot in that area with the same build up, right ?

u said price drop, and to me, the drop is too dramatically, and sounds weird. between, do u mean that the dropped price is based on after renovated with fix and fixtures ?

ok, lets back to topic. i believe there must have a standard selling price of CORNER LOT in the area, which all buyers must bear in the S&P. why dont u just ask some contractors, best is someone u know to quote the price of renovated part and reduce it with 30 percents of actual price, thus u can get what u deserved.

i never bought a show house before, but, that is what i heard from an experienced friend a year back.

Thanks

The price of show house dropping is due to developer just want to clear it since it'd served its purpose.

What purpose? As a demo of course.

When you're buying a showhouse, bear in mind that the furniture & fittings inside are already 1-2 yrs old already. And some minor problem here & there is unavoidable. Yes, it's designed by professional Interior Designer & Architect, but it doesn't fit everybody's taste. To some, they might feel the design's outdated.

Certain developer also wouldn't honour the 18 mths defect liability warranty.

But, if u're not fussy, and not gonna change anything from its "AS IS" state. Then showhse is a good buy. For a corner lot, typically the developer already spent RM140k or above on the landscape, ID, furniture & enhancements.

Correct. There are many other corner lots there. The renovated house is already there for more than a year already. So in my opinion, the price drop many due to the deterioration value of the furnitures...not too sure on this so that's why I ask for more info here in this thread

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Added on March 21, 2008, 11:11 pmHmm...you might have clear my questions on the price drop alr. Thanks for your answer. The designs that I saw are not really to my dislike nor my true likings either. I think it's very neutral and serves the common liking of majority of people I would say. There are palm trees, golf course grass planted in the garden and tiled parkway.

So the 18 months warranty, is only for the new purchase empty bare unit? Never bought a house before, so this will be my 1st purchase

This post has been edited by knwong: Mar 21 2008, 11:11 PM

My suggestion is, get the developement's price psf for a bare unit. Then compare it with how much you'd be paying for your unit.

If the premium is less than 15%, then I thinks its quite worth it.

Depending on the developer. Reason being, by the time u got the keys to the hse, the defect liability period of the building contractor should lapsed already.
So if there really are some defects to rectify, developer need to engage contractor, thus extra cost to be borne.

Ask them before hand, whether they still provide the warranty thingy?

If yes , when signing S&P, check if the clause's there.

Anyhow, even if they honour it, all developer are slow when it comes to purchaser complaints.

So, if it's minor, most ppl would just settle it on their own.

Thanks for the hint. Will sure do it the next time I pass their office.

I'd say that generally the furniture and fittings in a show house are of middle quality.

The developer would not want to spend too much, otherwise the price of the show house would be too high and hard to sell off. Neither would they use low quality stuff because then it can be seen and felt by visitors and that leaves a bad impression.

If the house is being bought first hand from the developer then the standard SPA (as provided for in the HDA) would normally apply. This will include the defect liability period. But yes, do double check the SPA.