Rent or Buy – Penang Property

My close friend asked me today. Should she buy a property if she intend to work for only a few years in Penang. I asked her, what’s her rental and she said RM800. It’s not a lot but RM800 x 12 x 5 years = RM48,000.  If I ask you to give RM48,000 away, you would almost kill me. Yet, truth is, you are giving it away. Since she decided to follow my advice to buy, she asked, what to property should she buy in Penang.

Let us focus on what to buy. This question can sometimes be hard. For example, if my friend can afford a RM500,000 mortgage, should she buy a landed property or condo? Landed in Penang? Am I joking? Let me remind you, Penang consists of an island and MAINLAND. RM500,000 allows you to still choose landed properties in Penang even if it may be a little far away. Choices in Balik Pulau would be limited at this point in time as prices has moved but for mainland, if you are willing to buy slightly further away, RM500,000 is ok.

In terms of distance, let me tell you that everything boils down to getting used to. If you currently drive 10 minutes to work and I asked you to drive 30 minutes, you may feel it is far. However, if you drive everyday, after some time, you would not even feel it. Thus, never ever put distance as a main consideration. Focus on what you really want. If you love landed tremendously, proceed to buy.

Please do not ask me when to buy your first property because if you are currently renting, then anytime is a good time to buy. However, if it is for investment instead of your first property buy, then the answer may be different.

Read on ‘Penang Property Potential’ to know more on investment.

Advertisements is everything about property related writings and news. Enjoy reading with a latte.

Related Posts

From 12 rooms to over 200 rooms. Penang Hill gets exciting.

I am pro-development. Sorry to all those who are not pro-development. Let’s agree to disagree for this one. However, I am against over-development yeah. I am also against development without a good business plan which ultimately will kill the project and cause even more issues. Today, we talk about Penang Hill. There will be two new […]

Read More

The Clovers, Penang – An Overview

[Sponsored] The Clovers, Penang – An Overview The Clovers is a freehold luxury residential development by Asia Green Development in 2013 and completed in 2017. The project’s logo was inspired by the four-leaf clover, whereby each petals represent the element of fortune, hope, love and faith; signifying prosperity, good luck and blessings to bestowed upon […]

Read More

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Property investment news everyday? Subscribe for free!

An article a day, keeps you updated all the way.

Join 903 other subscribers

LIKE us for property news update, FREE.

%d bloggers like this: