Lowyat.NET: Latest topics by woolei

Purchase a Leasehold Condo at KL

woolei — Fri, 03 Jan 2025 15:17:06 +0800

I was trying very hard to find if any relevant topic related to leasehold condo success renewal case & costing of the renewal, but i couldn't found any, so i decided to start 1.

Best Answer: contribute by BaBu_My

(i will alter it by mixing it up with wrong year and location, the intention is not to depress the current owner who own leasehold property)

1) there is a old condo with ->25++ years old with leasehold title
2) the left over lease period is 50++ at 2025
3) condo condition -> 30%-40% , everything functioning but of cause it look aging
4) location -> superb, old address, kl famous address, super good
5) size -> 1k++, consider large with 3 room
6) resident -> foreign worker 50% + local 50%
7) price range -> 300k++
8) rental range ->1.3k-1.7k
9) house condition -> need 50k-80k to renovate to be comfort living condition.

i will focus on buyer perspective

1) concern of housing loan -> from various of article publish by popular property website, most of it mentioned less then 50 then the bank might not want to borrow money to you, but since now still left 50++, it will be the best time to purchase so you able to get loan. but if you want to sell it successfully, you will need to renew the lease by 30y and sell to next buyer for him to get loan.

2) concern of Lease Renewal -> as it left with 50++ year, and the best time to apply for lease renewal will be at 50 year sharp, so after purchase, we will need to folk out some money to renew the lease to another 30/60/99, and not guarantee the lease will be renew successfully due to the location is really superb, government might have plan for it.

3) the cost of the renewal -> no body know about the cost, because not much condo apply for renewal yet
formula:
(1/4) x (1/100) x (Market Value of land / psf) x (lease period – years remaining on the lease) x (land area)
assume:
1/4 x 1/100 x 700 psf x 30 year x 1000 sf = RM52,500 for 30y additional lease (this calculate sound too good to be true)

4) to increase the possibility of lease renewal -> in order for DBKL to renew your lease, the condo must be well keep, residence must be more on own stay, paying maintenance on time, must look clean and tidy, cannot post a threat to neighbour hood environment and etc. (I blah it myself as per reading from lease renewal)

5) transaction period superb long, 6month from land office, 3+1 for SnP. everyone know this, skip.

6) exit plan -> if fail to renew lease at 50y left, bank wont borrow you money, the new buyer will need to cash buy. even worst, you cant exit, hold until it expired at 99, maybe after you gone, the house also cannot transfer to offspring as land office wont approved this.

7) high chance to rundown -> if the lease cant get approval, possible that those owner will cincai rent to anyone to get rental, default the maintenance fees, default the installment, maybe just left the house empty and rotten there. (as per current situation, alot rent to foreigner, defaulter list also high, with some auction unit start showing too)

a very Optimistic scenario from me, purchase the house to stay/rent out, after 5 years, MO manage to renew lease to 50+30 = 80y, sell after 10y to earn handsome money.
(day dream)

how you all think? would you consider?

Prime Location Landed or Outskirt Landed 2022

woolei — Sat, 02 Jul 2022 00:38:22 +0800

Below is the defination:
1) Prime Location OLD Double Story Landed Eg:OUG,Sri Petaling,Taman Desa,Kuchai Lama, Happy Garden, Kinrara, Bukit Jalil,bangsar, ss21, ss22, bu, ss19, Taman tun, Sri hartamas, etc (Individual Title & no GnG & no facility, but mature area, center of everywhere)

2) Outskirt Location NEW Double Story Landed Eg: Rimbayu, Semenyik,Bangi, Rawang, Gamuda Cove, Cyberjaya,Sepang (strata title, GnG, facility, new and biggest size, but might not have everything in the town yet)

this poll is focus about your honest feedback, dont need to give advice like "if you working near to KL, then you should consider prime location blah blah to save ur time on traffic blah blah", just vote and feel free to share with us what your preference.

what i interest to know is after pendamic, where most company already practice for WFH policy, everything we can get it from shopee/lazada/grab food/panda food, did people still prefer to stay in city center, or they moving to outskirt for peaceful life now?

Self Install open air Parking Bay Roof at Condo

woolei — Tue, 05 Apr 2022 01:52:32 +0800

quick question, can we self install parking bay roof at our own parking in condo/apartment? strata management act 2013 covered this?
just assume i will fund it myself.

background:

the place i currently staying have 2 type of parking, open air (no roof) and parking in 4-5 story building.

the open air parking is very terrible, the sun is super strong, and it always raining in malaysia as you know.

just assume i am happy with my open air parking spot , and i would like to self funded to build a parking bay roof for my parking only.

is that possible? and i am ok to comply with the existing design they have for the motor bay or etc.

IOI Finance?

woolei — Thu, 21 Jan 2021 11:24:39 +0800

Their selling Point:
IOI Finance will provide up to 40% with 0 Interest, Pay later after 10 years
You Only Apply 60% from Bank.

Example:
Assume you going to purchase a condo at bandar puteri puchong with the price of RM650,000.
you only need to loan from Bank 390,000
IOIFinance will give you 260,000 with 0 Interest, and Pay later after 10 years.

with the current interest of 3.25%, every year you save RM260,000 x 3.25% x 10 Years = RM84,500 (Each Year RM8450)
Monthly Loan Repayment from Bank for 30 years, RM1700

My personal view, this is just look like the 10% + 5% early bird discount or something, is just that they rephrase it to others term.

any comment?

MCO - Tenant ask for discount / waive

woolei — Mon, 30 Mar 2020 15:00:27 +0800

Hi All,

i know there is already a discussion at https://forum.lowyat.net/topic/4930465
but that one dont give poll options, so it doesn't serve as a reference for me.

for my case, my tenant is already asking this question at morning, i still haven't decide what to do yet.

NEW CONDOMINIUM NEAR SALAK TINGGI ERL for RENT

woolei — Mon, 17 Feb 2020 02:06:23 +0800

Fully furnitured condominium for rent near salak tinggi ERL.
pm me or call 012-3551872 (MR LEW)

LRT Property List from B.Jalil to K.Jaya

woolei — Fri, 01 Mar 2019 16:06:06 +0800

MRT Property from Bukit Jalil to Kerana Jaya Station (10min walking distance)

**10 min walking distance - walkway condition not taken into consideration
*if any info wrong or additional info, please feel free to comment.

SP17 - Bukit Jalil Station
1) Parkhill Residence (400m)
2) PPA1M Bukit Jalil (450m)
3) Arena Green Apartment (1km)
4) Endah Villa Condominium (1km)
5) Endah Regal Condominium (1.1km)

SP18 - Sri Petaling
1) Vista Komanwel A,B,C (900m)
2) Savanna Condomnium (800m)
3) Covillea (600m)

SP19 - Awan Besar Station
1) Kiara Residence (400m)
2) Kiara Residence 2 (400m)
3) Bukit OUG Condominium (200m)
4) Z Residence (600m)
5) The rainz (500m)

SP20 - Muhibbah Station
1) Casa Green (550m)
2) PPR Kg Muhibbah (300m)
3) Platinum OUG (under con) (550m)
4) The COMO (under con) (550m)
4) Parklane OUG D & E (800m)

SP21 - Alam Sutera
1) The Zest (400m)

SP22 - Kinrara
1) 8 Kinrara (500m)

SP24 - IOI Puchong Jaya
1) SKYPOD (800m)
2) Sutramas Apartment (1km)

SP25 - Pusat Bandar Puchong
1) Setiawalk (500m)
2) IRDK RESIDENCES (under con) (500m)

SP26 - Taman Perindustrial Puchong (TPP)
NOTHING

SP27 - Bandar Puteri
1) Stella Suite (under con) (300m)

SP28 - Puchong Perdana
NOTHING

SP29 - Puchong Prima
1) Lotus Apartment (450m)
2) Desa Idaman Residences (500m)
3) Aurora Residence (800m)
4) Desa Impiana (850m)

KJ37/SP31 - PutraHeight
NOTHING

KJ36 - Subang Alam
NOTHING

KJ35 - Alam Megah
NOTHING

KJ34 - USJ 21
1) Tropika Paradise Condominium
2) Main Place
3) Fairville Apartment

KJ33 - Wawasan
1) Starville
2) Rhythm Avenue
3) GoodYear Court 10 A

KJ32 - Taipan
1) Good Year Court 3,5,6

KJ31 - USJ7
1) Subang Perdana Good Year Court
2) Damen
3) Impian meridian
4) USJ one/ you one

KJ30 - SS18
NOTHING

KJ29 - SS15
1) SS15 Courtyard

KJ28 - Subang Jaya
1) Subang Avenue
2) Casa Tiara
3) Saujana Residency
4)Isola Services Apartment

KJ27 - CGC - Glenmarie
1) Shang Villa Condominium
2) Sterling Condominium
3) Kelana Mahkota Condominium
4) Zenith Residences

KJ26 - Ara Damansara
1) The OAK Residences (400m)
2) Puncak Nusa Kelana Condominium (900m)
3) Suria Damansara Condominium (800m)
4) Puncak Sri Kelana Condominium (800m)
5) Urbana Residence (800m)
6) Potpourri (1.5km)

KJ25 - Lembah Subang
1) D'Aman Crimson Condominium
2) D'Aman Ria Condo
3) Eve Suite Condo

KJ24 - Kelana Jaya
1) Lily & Rose Apartment (1.1km)

you may also interest with
MRT Property from Cochrane to Batu 11 Station (10min walking distance)
Walking distance condo for upcoming MRT 2 Line, Less than 500meters walking distance

Which one is better investment? Same Price

woolei — Tue, 12 Feb 2019 22:35:47 +0800

purpose: ownstay for now, going to sell/rent out in future after upgrade, which one is better investment?

Ah Meng is a 25 year old guys, single and just graduate from college for few years.
Have a stable job with income of 3k.

Try to Imagine if you in the situation of ah Meng:

- Ah Meng budget is RM 245k
- Ah Meng Monthly commitment for House loan Installment is 1k++
- Ah Meng Salary can only afford this price range (RM245k++)
- Ah Meng Already visit alot of house and shortlist this 2 (either because of it near to work / you like the surrounding area)
- Assume the whole world is only left with this 2 units, you free to choose the facing, level and etc.

Now is decision making time, which one you will purchase? and why.

Cybersquare Studio - 1 ROOM - 450 sq ft - 1 parking - RM245k
Rental : 1k-1.2k
Iproperty Link

Sri Cempaka walk up Apartment Puchong Wawasan - 3 Room - 730 sq ft - 1 parking - RM245k
Rental : 800-1k
Iproperty Link

Fund My Home made my dream come true!

woolei — Sun, 20 Jan 2019 03:14:57 +0800

The freehold 900 sq ft unit costing RM300,000 offers 3 bedrooms, 2 bathrooms and two parking bays. Some of the common facilities provided include a function room, swimming pool, multipurpose court, children pool, playground and anti-climb fencing.

Although FundMyHome is a newly-introduced platform, Liau said he is very positive and confident with the scheme, as it collaborates with reputable developers in Malaysia.

Under FundMyHome, Liau just had to pay 20% of the purchase price of the Harmoni Apartment to move in. There is no need for a bank loan as the 80% of the purchase price is funded by institutions. Hence, Liau has no mortgage payments to worry about for the next five years at the end of which he would decide whether to own the entire 100% of the unit or sell it.

“Since Harmoni is already completed, I can do the renovation now and move in soon after the renovation is done. I’m ready to take-up the 80% share of this unit five years later so I’m ready to invest money to renovate this unit,” said Liau.

Reference

100% stamp duty exemption to 1st time house buyer

woolei — Sun, 30 Dec 2018 00:45:43 +0800

“As announced in Budget 2019, the government had agreed to grant a 100% stamp duty exemption to first time house buyers for properties priced between RM300,000 to RM1 million,”

http://www.theedgemarkets.com/article/stam...ths-july-1-2019

Looking for Opinions

woolei — Tue, 28 Aug 2018 23:36:54 +0800

Hi Guys,

Currently i am in a Legal case with the owner upstair and management office.

The Chronological Events:
1) On Dec 2017, i notice the small bedroom + both bath room seem to have water leaking issues.
2) I reported to JMB, after 1 weeks, they inspected my unit and give a 14 days notice to Owner above my units to request for repairs.
3) After 14 days, i ask JMB to proceed to fix my house, but they refuse to and mentioned it is the responsiblilty of the owner above my unites.
4) I get fed up, so i contact the upstair owner myself. He come with a contract after few weeks, told me he will fix it next week.
5) After next week, he responsed that he is currently putting his house on sales, his house also have the leaking issue, having some financial problem blah blah and ask me to claim after he sold his house.
6) I again ask the JMB to fix my house, but they still refuse to do so.
7) I raised a case to KPKT Putrajaya with RM100 + alot of time to study strata management act 2013 + research + time + petro + Annual Leave.
8) This monday i manage to see them on the court, it very awkward & not comfortable for all party. Due to they forget to fill up the Form, so we postponed the hearing to next month.

Now my question come:

The Owner ask if we can settle the case, but he only willing to bear 50% of the cost. He is having a financial issue, business not doing well, house getting lelong and etc. The payment can only make by installment.

But my purpose of raising the case, is toward the mistake from Management Office too.
Because according to Strata Management Act 2013, they suppost to fix the issue and charge to the owner upstair, but they not follow the process properly.

i planned to join the JMB next years, as i found the current JMB is very terrible.
So it quite important for me to get the case complete, so i can assist the others owner when deal with legal act.

How you think?

Case Study, Which one you going to choose?

woolei — Tue, 07 Aug 2018 16:11:48 +0800

Details:

MR LIM recently targeted 2 property.

The 1st Property: Single Story Landed House
-Nearer to LRT, assume walking distance
-200k More expensive than Service Apartment
-no GnG
-need touch up

The 2nd Property: Service Apartment
-5km to LRT
-200k cheaper than Single Story Landed
-got GnG
-need touch up

(sorry, the case is in Chinese)
reference: http://www.sinchew.com.my/node/1781215

NADA ALAM

woolei — Wed, 09 Oct 2013 17:59:00 +0800

4 Bed Room - 4 Bath Room, 2,366-2,543 sft, Price from 472,400++

Nada Alam

What is your income group?

woolei — Mon, 29 Jul 2013 05:35:50 +0800

Malaysia have 3 income level, which is high income group,middle income group and low income group.

Below 3k consider low income group
3k to 8k consider middle low income group
8k to 14k consider middle high income group
Above 14k consider high income group

What is your income group and how many property you have? List down what type and what price you brought if possible.

Just want to know if any middle low income group (3k-8k) got the power to invest more then 2 or low income group (<3k) can join the game or not.

You prefer condo or landed?

woolei — Wed, 12 Jun 2013 19:36:12 +0800

Hi All,
let do a survey to check if those new generation is it prefer condo more then landed property.

(For KL and Selangor Only)

Scenario:

Condo:
at Town
Smaller size
Strategic location
Good Access
Good Security
Near LRT & public transport
Convenient
Got Facilities like swim pool and etc

Landed:
OutSkirt
Biggest size
Guarded
Not Near to LRT or Public Transport
No Facilities
Not Convenient
Need to drive

How to Prevent Owner to Rent Unit to Affican?

woolei — Thu, 18 Apr 2013 13:12:35 +0800

My Medium Cost Condo will be completed at end of 2014. As it is a medium cost condo, there are alot of flipper,speculator and investor brought a units there.

As i will be own stay at that condo, i would like to know how to Prevent Owner to Rent Unit to African ?

As you guy know rent unit to a African will cause the property to depreciate as they always drink alcohor, rude, flirt girl around, body size is big, specking very loud, dirty and etc... (Sorry if i offend you or your friends)

But as a own stay owner at that condo, i can see that it will be tenanted with alot of African in future as alot of investor there.

what is my mind now is the solution below, but it doesn't make sense too.

1) I will use Facebook page/group to blacklist/publish those owner + Unit Number who rent their house to African.
*Will the owner care if their name in internet?I don't think so.

2) Take over the management of the condo and set a rule not to rent unit to African.
*If they really rent to African, what the management can do about it?

3) Inform the guard don't let Agent bring African to view the house
*Can we really do that? will getting sue by discrimination or not?

4) Put banner there to protest we don't welcome blackie!
*But who willing to protest?

welcome and appreciate your suggestion.

* Anyway, my medium cost condo is Parklane Oug Condo