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Secondary condo, Secondary landed. Buying one.

A friend asked me the other day, ‘if I were to buy a secondary condo and it’s already 15 years, I think I have to do a lot of stuffs, the piping, the wiring etc.’ Then he said, better buy landed, not so problematic. Yes, it is true. For example, piping may not be easy to do if there are leaks from the unit above. You may need to talk nicely to the owner above you, persuade him, push him or by sharing the cost and if all fails, push by saying you pay for the cost but they will have to be without that toilet for many days. Still, potentially solvable. Coming back to piping and wiring for landed properties. Seriously, if you are buying a landed property of 15 years or higher, you have better include the piping and wiring as part of your compulsory to do items. Do not renovate the whole house and after staying there for a few months, the pipes burst or the wiring caused a small fire. Old houses…. These do happen.
Ok, since both of these may happen, which one should you choose then? As usual, look back at the three most important things.
Own stay. Staying with family, including your parents and babies? I think landed is better but only if you can find one which is single storey or there’s a nice room downstairs for your parents. Otherwise, if you expect them to move up and down everyday, it’s pretty taxing for them too. Another reason is because if you stay at condos, even at 5th floor you are bound to get worried if your kids runs around here and there or climbs. Before you say, yeah, landed is best for big families, let me add there are also huge condos on the ground floor or 1st floor which also meets these. Few though.
Budget. Truth is, this is not much of an issue. You can still buy landed, further away. Think Sungai Buloh. Think Bandar Sungai Long. Think Rawang? Not everyone can afford Desa Park City and I do not think everyone who’s rich MUST stay in Desa Park City. After all, the prices of Desa Park City also started from the prices of the landed properties in the faraway areas of today. If you can accept condos, then for the same price, you can definitely get somewhere closer to popular areas.
Investment. Majority of everyone whom I know said landed is better. I think I have to agree. Do be reminded that while landed prices would be the ones going up first and followed by high rise, it also means the prices of high rise would rise in tandem with landed. Prices of condos would not lead those of landed, at least not yet. If I am able to afford it, I would buy two condos in a new growth areas instead of one landed at a matured neighbourhood.
I think my friend would most probably be buying a landed. It’s for own stay and he said he does not need a huge one, perhaps a terrace would do just fine. Perhaps then landed is preferable.
written on 6 Sept 2014
Next suggested article:  The changing condo versus the loved landed. My views.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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