I couldn't get you. I am not going to stay there, I will sell it right after it is being built. So I do not think the loan period is my main concern isn't it?

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Added on March 3, 2009, 5:07 pmHehe... You have your point.

Zen Residence management fee will be waived for the 1st year. So hope I manage to sell within 1 year.

IMO, paying 6k for now and have a potential reward of 10k in 3 years is quite attractive. How much the price of a property will increase normally after completed? RM 20k?

This post has been edited by vincent_ng86: Mar 3 2009, 05:07 PM

Hi, no one seems to be answering your question (highlighted).

As far as I know, this is not a build then sell concept. if the developer lari, you will have to bear the released amount.

FYI, I approached SP Setia for their 5/95 package and this is what I found out. Basically your liability remain the same, just that you save on interest until the house complete.

if you are not sure, talk to your bank and ask them specifically which clause in the contract states that you are free from such liability.

This post has been edited by GreenJellyBean: Mar 3 2009, 05:08 PM

Haha... You will get dizzy after you know what is my current status.

Have been working for only 2 months now. In my probation period. But couldn't let go of investing the 6k for at least 10k in 3 years time.

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Added on March 3, 2009, 5:15 pmHaha... Finally... Thanks.

I think you are correct, just called up them and clarify.

Heard the Selangor State Government has formed a department to revive abandoned projects, and also to prevent abandon project. Anyone knows about this? Under which Act? Or is it just words of mouth?

This post has been edited by vincent_ng86: Mar 3 2009, 05:15 PM

i think it is not ur right time to invest yet since ur income status is not stable plus u have been jus working for only 2 months...

Haha... How about if I am sharing it with another friend with the same status?

nope dont think its possible now since gov law have changed. And its highly discouraged to have 1 property under 2 owners with no blood /marital relation.

ya u will encounter a big mess when u decided to let it go for ur property in future .. STRICTLY not to put a join name which is UR FRENs in S & P

Talked to a few bankers and also the developer, they said yes, we can share.

I am comfortable with the friend, so that is not an issue.

The Zest has a 0% 12 months installment plan for down payment. So it will be abt 2k++ per month. You can plan on it.

It really depends on you. For ppl that staying in Puchong or working in Puchong, they won mind to stay in Zen. but if ppl like me, work in town area, i totally won consider Zen. sure there will be market.

if u commit for 38 yrs plan, pls choose those with flexi payment so that u can dump in more $$ to offset the interests. not worth cos 38 yrs interests are a hugh amount!!

Thanks for the advice.

And about the 38 years plan, please ignore it, as I am going for investment only, sell my property once it is being built. So it is not a major concern.

Hi vincent_ng86,

What is the exit price you are looking at after completion in 3 years time .. just curious

This post has been edited by eugene jk: Mar 3 2009, 06:05 PM

let we come back to the main topic.

Zen is it worth for investment ?

that is the high rise living but selling for the medium price, then somemore around that area ardy have the master plan of development under IOI, SPSetia, CapitaLand. PAY ONLY 6K till it competely

But the only thing make me feel unsercure is becoz this is the first property of the SENTRAL developer. and in this economic situation, let say the recession happen badly , GDP growth negative. is it highly risk for the project to be abandon ?

and anyone know more ab this SENTRAL developer ? r they have strong background ?

pay 6k - earn back at least 20k, will u go for it ?

Lolz i give them zha dou, like that talk to u oso can .
Ya of coz u can share if regardless all those mess in future. They want business, so they tell u can share, basically that is possible If lets say after the property completed, and u got no buyer interested nor rent out of ur unit, so how would it be? start pay instalment rite? so u expected that ur fren oso share half of ur instalment as well?

The loan will be under our names, and also the property will registered under our names.

And yes, if not one is going to rent, we are going to share the installment. This place is actually quite attractive to me, in terms of their design and so on, so, I won't mind to stay there for a few years for the price to go up, then sell.

Hi Vincent

There is no wrong in buying property with onli 2 months in the job market.. investing is about preparation, know how and guts.. I respect you for that

However, I am a bit concern with using Zen as an investment in the flipping market.. there are few points I would like to share..

1) with 3 years down the road, the subsales market is be very intense with buyers spoilt with choices between so many completed projects, mainly

-Setia Walk
-The Zest
-Zen
-and Atmosfera

Obviously Setia Walk, The Zest will stand out the rest due to its lifestyle concept, better accessibilty and also if LRT smach right infront of this 2 units.. chances are these 2 project will appreciate..

Ok.. maybe SW is abit too expensive.. the closest rival for Zen will be Atmosfera.. Atmosfera stand out with its freehold title, not to mention, the breath taking KL view.. Atmosfera has better accessibility being surrounded by major highways..

2) Zen is attractive right now due to its low cost entry and tonnes of free gift.. imagine 3 yrs down the road with all 4 projects completed at the same time, it make no difference to subsales buyers as all of them have to take out 10% downpayment, SnP legal fees and Stamp duty for all 4 subsale projects.. thus Subsale purchaser will be very cautious in selecting the correct unit...

3) Being Leasehold.. Buyers are very cautious and having so many freehold units around, buyer pool is very specific..

4) if you are buying at 320k and marking up to 360k upon completion, There are plenty of prop around with similiar or cheaper price tag around..

5) If you dont want to sell and decide to rent out, you will have heat competition with condos and apartments nearer to town and LRT station.

IMHO.. not to say that you might not able to flip your unit and get a better gain, but your buyer pool is very specific. Looking at Zen's current sale (although it had been advertised for so long and with low cost entry), 1st block is not even fully sold, buyers mostly are for own stay if you read in other forums.. Where as Zest being soft launch recently and dont even have a show unit, pick up rate is close to hundred by now, half are investors, half for own stay. Thus I believe that Zen is targeting on certain niche of buyer.. mostly for own stay..

Any Sifu plz correct me if I am wrong

This post has been edited by eugene jk: Mar 3 2009, 07:48 PM

Dear Eugene jk, thanks for your sharing and the great analysis. Your view have certainly changed mine. Will really think of it. Maybe Should go for another one instead.

very fair assesment, and I'd like to highlight one more point, developers with good properties dont need to throw many freebies to lure customers

I am going to withdraw... Hope that will refund me as soon as possible...

there's one main concern , this is the first project of the developer. even the sales agent confront me with that the boss of the company owns a few other company. if this developer facing economy crisis, is the money /cash flow transferable from other company to sustain this project until it's done? i like the overall concept of it but the location doesn't caught my attention. maybe i'm not fancy about puchong area, but the overall concept is really good. similar to usj1 avenue.

if anyone can confirm with me with the developer status, i believe me and my gf going to purchase one unit after one year. and, they very pushy to us to buy only a few cheapest units which is very near the car porch. maybe because we wear short pantz and normal t-shirt.

For the price and location, I think you can compare Zest or Atmosfera. It's better right?