Lately, I've been reading a few forums about property. And we even read the Valuation and Property Services Department's 3rd quarter of 2010 report.
Obviously, property value in KL and a few parts of Selangor increases align with the price, massively in year 2010.
It surprises me when many forumers manage to buy a RM600K++++ property and still have time to join the forum actively. I thought these rich people are too busy working to find more money rather than waste time in the forum eh?
Well, we definitely can't afford a RM600K property. Seriously, one has to pay approximately RM5-6K per month?? phew..
However, I have a different view on buying property. This is what my mom thought me: Buy a few moderate price property AT THE HIGH PROSPECT AREA rather than a huge, expensive one.
Reason one:
Let say I have 3 small / moderate houses by the price of RM600K when I sum-up the price. One is our house and the two other are for rent (self-paying). The other two are called investment because when the right time comes, we can sell it with higher price, (maybe double) without having to pay every month to the bank because we have tenants paying for it.
Reason two:
More property baby.. If we were in urgent need of money, we can sell off one of the properties and I'm sure we can get quite a sum when we settle the bank loan. But if I had one huge, expensive property, it's more difficult to sell it (sebab mahal sangat, susah nak cari buyer) plus, I need to find another place to live because I'm selling off my one and only property.
Reason three:
A guy in the forum pointed out that buying a pricey house for your second property to rent is not a good investment. Why? Because, whoever wants to rent a semi-d at the price of RM3K per month??? Lebih baik beli rumah sendiri beb. Lama2 jadi rumah kita berbanding bayar sewa RM3K sebulan, rumah tu rumah orang lain.
Anyway, this is my personal opinion and I'm not condemning others who have bought expensive houses.. It's your money to spend :)
600k for a normal terrace house is expensive. Though the house that we bought now is priced at RM650k (RM450k when we bought it, monthly installment is about 1.6k), we don't plan on selling it. We plan to stay long. If later we move out to a bigger place, we'll rent it out.
ReplyDeleteHouses for investment should not be more than the house you are staying, I agree with you on this one. That's why it's better to buy condo for investments than landed property. Our 2nd house is a condo at Damansara Perdana. very small build up area but high prospect due to its location. The condo we bought is considered cheap but the rental is more than RM2k. So yeah, Insya-Allah we'll be making money :)).
Have you found your dream house Yaya? I hope you do :).
Hey, I didn't buy any clothes, handbags and whatnot too for the past 1 1/2 year. All in the name of saving up for the house and the wedding :)).
Insya-Allah lepas kahwin boleh pulak start saving untuk retirement and the next bigger house!
Yes, saw some of them are selling your type of house in mudah. Wow, RM200K naik in what, 2 years?
ReplyDeleteHusband already has a self-paid apartment in a very strategic location and we plan to buy another apartment for investment purposes :)
Ah, about our dream house, let's pray that everything goes well and later I'll make the announcement ;) Still too early to say anything.. hee
And hey, all the best for your wedding prep. Lepas wedding, sure lega sangat2 dan boleh plan hidup untuk next stage ;)