When our parents were younger, they read newspapers to search for properties. Developers would also advertise in newspaper. Leaflet was another very good way. Every house in the neighbourhood gets one. A developer which is building 50-100 units of terrace house need just to spend a few thousand and print 20,000 leaflets and chances are … Read moreThen and now, when we buy property
What kind of property can a couple with a household net income of RM8,000 buy today in Penang? My assumption is simple, both are working adults with 5 years experience. Wife is a manager and husband is a senior engineer. 🙂 Who says man must earn more than his wife? We also assume both … Read moreAffordability, Availability vs Salary
I admit first, I am slightly biased since all my properties thus far are condos. However, everyone loves landed property. I think this is very true, especially in Penang island. Due to the limited land size, anyone who owns a landed property is looked upon differently from those who can only afford a condo. Two … Read moreLanded versus Condo
My friend: ‘Hey, I just went to your project today and viewed the 1st floor of Block C.’ Chia Lih: Great, are you buying? My friend: I am still thinking. It’s on top of the TNB room and it’s RM290K. Chia Lih: If it is unsafe, I don’t think the developer would build a unit … Read morePerfect Property with lowest price
Today, majority if not all new condo projects provide two car parks. However, a lot of secondary condo projects may have just one car park. If you can, buy a condo with two car parks instead of one. Statistically, majority of all households have two cars. Your wife and you each would own a car. … Read moreCondo – Extra car park necessary?
On 17th October 2013, National Property Information Centre (NAPIC) reported that the average housing completion yearly was 100,000 units relative to the average annual household formation, which was 140,000. On 25th October 2013, in The Star, according to Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan1.7 million households yet to own houses’. He also … Read moreProperty bubble in Malaysia
A friendly reminder. There are potential for a price fall for high end condos. For example, those which are over RM1 million and above. Demand may not be enough to support the oversupply. However, for those who are waiting for the RM500,000 condos to fall back to their original level of RM300,000, I personally feel … Read moreProperty prices are too high in Penang
Everyone loves to be debt free. Truth is, I want to also be debt free. However, one level above debt free is financial success. Debt free is not financially successful? If you bought a RM500,000 property, takes up a 15 years repayment period and finished paying everything in 10 years. You are now debt free … Read moreDebt Free, really?
When a colleague and I had lunch recently, she said she is saving money for a property. I asked her, what kind of property. She said, I am not sure yet. Once I have enough savings I will then look. I asked her how much is enough. She said she has yet to identify. Actually, … Read moreProperty downpayment – own stay (updated)
A close friend who’s a senior management in a US multinational said, ‘It’s not a good time to buy property now, I heard many people said the bubble will burst soon. I will wait until the price comes down and then I will buy’. I just smiled. By the way that was 6 years ago. … Read moreMy first condo buy – Regency Heights