Hi YewKhuay,

Is first house important? I mean it will delay your plan to buy second house if not careful? ermm...i think no matter how, I still need to buy my own house. But er... is it a good time (i mean with my financial, condition & market)?

How's my plan look like? Buy an apartment some where else, rent out (around RM100-200 profit), then I rent a small room for ownself at vista (cos I still need stick to LRT)?

Sorry ya..youngster always rush rush...

erm, there is no best timing to buy a house, get ur intention clear : y u wanto buy a property? investment or self stay ? for investment purpose , u can find out how n where n which to buy for make ur money work for u. for permanent stay, u wanto get a nice one at good location , which at the moment, might not be possible.

U might also wanto consider, u r able to save 1200-1500/m now, wat other options do u have to make sure these money grow so tht ur goal to get a good place for own stay will come true asap. and u also wanto consider , even though u can afford the apartment now, IF anything happen to u, do u have a reserve fund of 6-12months tht support ur expenses n instalment. if u havent got a car, is buying a car in ur 3-5yrs plan ?

About ur plan, looking at the property tittle n age, i won't buy, even at 120K. if u wanto buy for investment , when is ur exit ?

I might give u too much considerations to think, but if u choose tht u wanto buy tht property , i will also support u by coaching u how to work towards tht goal.

Buying house just because sick of rent? You've gotta re-evaluate your words.

Buy house needs downpayment. You have the $$?

After buy house, maybe you need to wait for construction. Even if you buy completed property, you wait for transfer. You have the time?

Rent out rooms earn some $$. How long it take for you to earn back your dp?

Salary - housing loan = balance. Enough?

You might want to ask the management to apply a renewal for the lease since they have 69years to go. Check with the management office before buying. I think it will cost a couple hundreds for ringgit for the renewal. Not so sure myself. You better check.

I don't think the property will depreciate alot because it is leasehold. Many properties in Mutiara Damansara are leasehold but they are appreciating alot. But 1 thing for sure is Freehold property can sell higher and easier.

---

Added on August 18, 2008, 1:49 pmIf the management is bad, I suggest you to look for other options. Pai was right.

This post has been edited by agape_ian: Aug 18 2008, 01:49 PM

Is your office nearby vista? If you dont have vehicle and your salary can afford the home loan then i should say vista is a good buy.

Hi Sifu ,
Thats why I love LYN, many sifus here.

My intention is clear. I want it as investment, probably around PJ/KL near LRT. I think will look at Pai's list in another thread. Plan to have another house after I have my own family (targeting 5 years), worst case stay in the first property that Im hunting now.

I know with such income, is kinda hard to have a house. But I think if I rent out, it should able to cover back (if not, partially). You are right, I might lacking of backup now. Targeting 3 months backup now. For car, I think is should be in these 2 years too, due to nature of my job is required travel. I know is a lil risky at the same time buying both house and car, but i think ... however first step must start somewhere else, right? maybe this is a naive thinking, if sifus around got any comment, please enlighten me.

Thank you yewkhuay for open my mind.

---

Added on August 18, 2008, 8:14 pm
You got your point, seems like you are planing to rent a house forever. Well, individual preference.

I wish to have my own house, just the time matter. and I have the time, time can arrange one ma...

Salary - housing loan = balance. Enough? I think change a lil bit lifestyle should b enough.

---

Added on August 18, 2008, 8:20 pmHi agape_ian,

let say the the lease period only left 5 years, would the pricing of the property going down crazy compare to price when I bought? I believe more or less will be affected rite?

better look for freehold...but not easy to get leh with this kind of budget and requirement... unless got ghost..haha

But still will survey around, if required, I might top up a lil bit.

Yeah, Pai was right, the management there....not that bad, is REALLY x 999 bad. 2 Lifts, can spoil 1, for several months (reason: not enough fund to repair it) And I know may tenant refuse to pay the maintenance fees as they never improve the surrounding over there i.e. new paint or whatever....

BUT yet, there are still many peoples, are willing to stay there, as it's really convenience to workers or students (near LRT, Midvalley, UM, TARC).

I got another option, which is University tower, anyone know bout that area?

---

Added on August 18, 2008, 8:27 pmHi Muscaa,
My office can access by LRT, but I think I wont stay in the same office for long. Moreover, my job nature requires me to travel. Im in IT. So, car is my second priority.

This post has been edited by kanasai88: Aug 18 2008, 08:27 PM

Actually if you want to invest, there are still many condos around which are freehold and within your budget such as in sg long and USJ 19. If you want near by LRT then Crimson Condo in kelana jaya is not a bad choice either.

I personally don't stay in those condos so i not able to provide you feedback regarding the condo's management and environment. Perhaps you can do some research if you are interested.

Hi VpowerZone,

I did some research around kelana also. But Crimson not really near LRT right? Is the terminal if im not mistaken. Will try to work on it harder ..

Hi Cutegurl,

Yah, it's on the NZX side..but with 5 mins drive to kelana lrt station..it's still consider near right?

1st of all, i m not sifu, i m just happen to have a lil more experience than u in buying property.

Here is the thing u have to do , REGARDLESS which property u target now as an investment, and ur mind is clear tht it is an investment, U DO NOT take rental tht only partially cover the loan instalment, tht is called subsidizing tenants to stay ur place while taking risk on ur finance. ur money could serve u better in FD / UT.

and , 3months reserve is not enuf, targetting a reserve is a NO, reserve of min 6months is a MUST. b4 u have this, forget about any investment, u r risking ur LIFE.

DO some maths here shall we ? say u earn 3K now and u get a property tht cost u monthly instalment of 1200 inclusive of maintanence fee, u cannot get a car loan with ur current financial standing in 2yrs. even if u managed to rent ur unit out to cover ur instalment, u still need to save up d/payment for ur car in 2yrs, Notice how ur money leave ur account into ur house d/payment and legal fees, u have 3months reserve as u TARGET, then u have to save 2yrs for car d/payment.

then like u say having ur family in 5yrs time with another new place (probably a better n more expensive) , take out ur 2yrs saved for car d/payment, u have now another 3yrs to work on this new house n new family. It is possible, the question here is : How much do u need to save in the next 5yrs ? How much ur income should catch up to make sure ur savings are always enuf for the every 2-3yrs big spending? What kinda life u will be living for the next 5yrs to have ur targets achieved?

If u don't have any answer for the questions or u have answers tht u don't like to face, u might wanto reconsider ur plan or work out another plan.

the investment tht u r talking here is big n low liquidity, u might wanto find out wat other investment tht can actually gives u similiar return but lower risk n higher flexibility yet manageable.

This post has been edited by yewkhuay: Aug 19 2008, 02:05 AM

I'm giving my point. You're making assumption on me. Do you want me to list out the number of properties I have in hand? Becareful of the things you say if you're asking for advice.

sui teng sannn and tell them about the snakes!

well, before buy property, you need to ask yourself if you have enough funds. having insufficient money in the long run happens alot. there's a reason why "bank lelong" exists.

I got a list? DOnt remember producing one, can pass me the link?


Kanasai, give Kelana Puteri condo at Kelana Jaya a look. It fits your budget coz u could get a 3bed condo for circa 170k, ROI is decent (7% - 9%), plenty of tenants supply, and its got condo facilities. I personally love the location and the price. If u r looking for min 5 years investment horizon, think u cant go wrong on this one.

FYI, Im vested, so pardon my biassed opinion. But I do put my money where my mouth is, so its not a blind recommendation. Good luck

I am quite agree with yewkhuay (Monster) ... haha ... actually kanasai, monster got his point ...

Calm down ... Calm down ...

lol
feel the heat ... faster say sorry .... haha
Please forgive him lar ... I dont think he meant anything there ....

kind reminder, profanity are strictly prohibited here, Sir.

(runs and hide)

calm down calm down ... lol
"Kanasai" is the nick name for the TS ... hahahaa ... he is kanasai88 ... so in short we just call him "kanasai"

---

Added on August 19, 2008, 4:34 pmbut thats his name wor................


*brings out the popcorn*

This post has been edited by Pai: Aug 19 2008, 04:34 PM

By the time the lease period left 5 years, I think you no longer stay in that property, or sold the property, or extended the lease period. I would suggest you to buy Freehold property if you dislike leasehold.

---

Added on August 20, 2008, 9:32 amTraffic is congested in that area. I think they have flood problems as well. Not very sure either.

This post has been edited by agape_ian: Aug 20 2008, 09:32 AM