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Are you buying for VALUE or GLAMOUR?

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Gen-Yers are said to be less tolerant, want to be promoted fast and most of the time, spend their money as it there’s no tomorrow. As a Gen-X, I beg to differ. Thus far I have had pleasant working relationship with many of them and some are really above average likely to be very successful in the near future. Reason is, they are faster learners, thus more knowledgeable and this meant they decide faster. Right or wrong is another debate. One of them would like to share his experience on buying a property. Let’s learn from him. This is his first property in KL, after moving down from Penang.

– Start –

Many people complain that houses are no longer affordable while I beg to differ. For those who think that properties are rich man’s game, perhaps you’re looking at the wrong place. Take a dip into www.iproperty.com.my or www.propertyguru.com.my you’ll find huge number of houses easily fit into whatever budget you have. The real question is, are you buying value or glamour?

October 2013, I began hunting for my first property in KL based on my initial REQUIREMENT and horror struck me when I found that I could not afford any. There goes my dream of owning my own house. Then a thought struck me, what do I really need? When I began listing down the requirements, I realized that I have more buying power than I initially thought I did. Suddenly the properties I can shortlist grew to pages. Finally after viewing several, the choice is clear. I need a place which can comfortably fits into my budget and at the same time, has ample room for potential growth. I chose Kepong Sentral Condo.

Why Kepong Sentral Condo?

  1. Only MYR254.68/sqft
  2. Next to Sungai Buloh where the growth is happening
  3. Next to MRR2 and literally steps away from a KTM station
  4. 5 minutes away from Aeon Big and Jusco.
  5. Guarded with a swimming pool
  6. Covered multistory parking space
  7. Maintenance fee of only MYR0.145 / sf
  8. Fully furnished rental yield MYR1,300 or higher.
  9. Balcony overlooking Twin Tower 

It’s true the building is next to a cemetery but back in Penang, properties are selling for MYR500/sqft minimum for a similar setting. It’s a matter of time when even these outskirt area cheap houses won’t be cheap anymore. Growth in Klang Valley is continuing, fast. More changes would force people’s mindset and buying behavior to change but of course, facts and figures won’t.

Today, 13 months after I signed my SPA and stayed in my condo for many months, the current market price for my condo has gone up RM55,000. Based on the downpayment that I paid, that’s a paper gain of slightly over 100%! Recently there’s a proposal to form a Joint Management body, which meant things can only be better for the future. I always feel there’s no point burning a hole in the pocket for things that we can barely afford. I’ve gone though the days where the month seemed slowing down towards the end my piggy bank is empty. Now I spend half of my earning in what I can afford, and the other half goes to potential future growth. After all whom are we trying to impress?  Why own one when we can have two? I have already stayed in this condo for 6 months, when are you going to make your move?

written by How Jun, 30th March 2015.

– end –

Next suggested article: 53% of Gen-Y owns a property……. in Australia.

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