Property Buying – Too Far, Too Expensive and Too Soon

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Too Far – Unless you buy in a place without roads, it is very hard to find a ‘too far’ place for property. Even property developers would never build in places whereby it’s impossible to access. Think about it. Many years ago, Mon’t Kiara was nothing more than just……. nothing. Sunway was nothing but mines, mines and mines. You only go Sungai Buloh when, when, when you really have nothing to do. Today, these places are still growing, especially in terms of price per sf.

Too expensive – I remembered when condo prices hit RM250,000 in Penang many years ago. Imagine this, in 2007, RM237,000 condominium, with FULL FACILITIES, I could wait for over 1 month before going back to buy back the exact same unit!  Everyone was saying, how can a property without a land of its own be so highly prices? Today, RM400,000 for a 1,000 sf condo is considered cheap if not very cheap.

Too soon – Buy if you can afford. Not buy things which stretched you thin or speculatively buy. Thus, the question of too soon does not appear. It’s just a question of can you afford it at that point in time. What age should you buy? 30? 40? No one can answer because everyone is different. No one should use this as a reason not to buy.

Property may not be for everyone because it’s very sticky. It may be high risk if you bought wrongly and many other negative reasons. How about investing in REITs? It’s safe, it’s easy to buy and it’s affordable and low risk. Alternatively unit trusts or even PNB’s funds. Diversification is key to lowering your risk. Please do not speculate. Thanks.

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