Buying a property is more emotional than rational lah. Read on. I was at a wedding dinner recently and was seated beside a senior manager of a public-listed construction company. As usual, casual chats was followed with property talks. When I asked if he would be buying places like those in Semenyih, Seremban, Kundang, Sepang, Sungai Buloh or Rawang his answer revealed something which is good for us to note. He said, “we PJ folks are used to PJ and all its conveniences, we won’t be buying those places. Perhaps for the newer generations.’ I smiled. Actually this was something similar to what was advised to me I bought a ‘faraway’ place called Sungai Ara in Penang over 10 years ago. The Penangites told me, ‘that’s very far, nothing there, why not buy in Greenlane, Gelugor or Tanjung Bungah?’
With just a small chat, I think we have established one major reason why property prices in these established areas would continue to rise. The support for these established areas is simply too strong from those who are staying there today plus those who wants to also enjoy the same type of conveniences. It is however worth noting that majority of KL folks were from out of KL. Secondly these so-called conveniences have been duplicated in many other secondary areas as well. Last but not least, majority of us are working full-time and not many are under the top management category who can easily afford to pay over a million for a terrace house which needs further renovation.
We are now left with just three remaining options. First one is to rise to a level which pays us well enough to afford a place in these mature and established neighbourhoods. Second one is slightly more realistic, start looking at secondary areas which are not so far away from these high-in-demand neighbourhoods. I personally define these areas to be within 10 minutes away. In other words, on a good day, that’s easily up to 10km away. This actually opens up many new opportunities. Last but not least, there’s really nothing to be proud about if we are struggling to pay for a home that’s already fully-valued under current circumstances. Most PJ folks are still there because they bought it long time ago, have stayed there for a very long time and definitely would love to be there for a long time more. Their investments are mostly outside but their home is always inside. Ready for more choices? Happy selecting and if you are living in PJ today, you really do have a nice place.
written on 23 July 2016
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