Monday, October 20, 2008

I shall go on dreaming…..

Out of curiousity, yesterday we drove to Setia Alam to see the developments there. Sabariah had just bought a house there and had recommended that we pay the sales office a visit when I told her that we would like to one day own a semi-detached house should it fulfill what we are looking for.

What would fulfill our requirement of a house, actually? Well, for one, it must be an upgrade of our present style and standard of living, meaning that it has to at least be a semi-detached house or a corner lot link house since our present house is an intermediate link house.

Our present house has 3 bedrooms with attached bathrooms, an extra room which is my craft room, and a study area upstairs. We have a family/TV area downstairs and a wet and dry kitchen. We also have a utility room and a bathroom downstairs. We have quite a comfortable size living and dining area, and a terrace to spend our evenings on weekends sipping tea and enjoying seeing activities passing us by.

We have a porch that comfortably fits two average size cars. Our front garden is a reasonable size, and the back portion of our house is just nice for drying our clothes, with enough room for me to grow vegetables, though it can be crowded at times when I plant more than 2 types of veggies at the same time.

With that criterion in mind, we dropped by Setia Eco Park first by mistake when we followed the banner to the sales office. What greeted us there were houses that were going for no less than RM1 million! Their selling points were their exclusivity and security system.

When we roughly calculated how much would we be paying per month, it came up to RM6,000.00! I think I almost fainted! LOL!

Having realised that the amount is way beyond our reach, we made our way to Setia Alam further up down the highway, and saw what looked more like what we could afford! LOL! Well, you gotta be realistic, right? *wink*

We spent quite a lot of time studying the master plan to find out what are the amenities available around the area. We really like the Ardisia which Sabariah bought, but, unfortunately, it was sold out.

So, the sales person recommended to us another house which was just recently launched, and suggested that we visit their Show Village, which we did, despite the heavy rain.

Aiman got so excited going from house to house; we could not keep up with him as he moved from room to room, and trying out the beds! LOL!

After about more than an hour going from house to house, finally, we decided that we both (hubby and I) liked the Link Semi-detached TECTONA H. It is categorized as a link semi-detached because it connects at the back portion of the house only and is built in clusters of 4, giving you a feeling that the house is a semi-detached house.

We were like already planning which room will be Aiman’s room, which one will be my mum’s room cum guest room should she come over for a visit, where will be the maid’s room should we decide we need one in the future, and, most importantly, a craft room! LOL! Check out the floor plans here!

We really liked the master bedroom of this design as it is almost twice as big as our present room. We can fit in a study table cum office, and still have room for our ever expanding wardrobe! Well, ok, MY wardrobe! LOL!

I like the open kitchen though it would mean that I would have to always keep the kitchen spotlessly clean. What was missing in the house, however, was a common study area as we both agreed that the computer should be in a common area so as to keep an eye on Aiman from going to sites that he shouldn’t be going…well, at least, for now! LOL!

The family area would also be smaller than what we have now, but, we would gain some land area which we could probably later renovate to add a more comfortable size family area. Definitely, for sure, I would have more land to grow vegetables! Yippee! That’s a huge plus point! Yup, we were planning, and we were dreaming! LOL! Then, suddenly, reality struck us! *grin*

The price? It ranges from RM630,000.00 to RM952,000.00. OK, that does not sound too bad. *grin* We went back to the sales office to inquire further, including the financial assistance.

We were told that should we take up a 90% loan, we would be paying a monthly installment of between RM3,600.00 to RM4,600.00, depending on the size of the land area we chose. OK, divide that amount with my hubby, that does not sound too bad, though we would still have to tie our belts really tightly. I can almost see my dream of owning a demi-detached house almost coming true, until……..

………the sales person started calculating what would be needed upfront to secure the house – between RM82,000.00 to RM113,000.00 within 14 days, which would include the lawyer’s fee (no wonder lawyers are rich! And don't they use the same SnP agreement all the time, but just change the names of the owners and property details?), stamp duty and 10% down payment! I think I almost fainted a second time that day! LOL!

Just where are we going to find that amount within 14 days?

If I had been dreaming, and floating on cloud nine after looking at the house earlier on, but when told of the amount to be paid upfront, it quickly shook me back into reality and I think it just burst my bubble of dreams. *sigh* I must have hit the ground so hard as I fell back onto the ground, because I suddenly felt exhausted, and sad…..

If we were to actually buy the house, it will have to be at least the one in the range of RM 780,000.00 (corner lot) as the one that cost RM 630,000.00 wouldn’t be any different from our present house in terms of floor area and the number of rooms and areas that we will end up with.

But, to own this house would mean that we would have to sell whatever little properties we already have, and I am not willing, just yet, to sell off our present house as it is my first property I bought with my own hard earn money. It is also a property that I hope to fall back on should any unexpected happens. A new semi-detached is going to be a shared property which will later probably to passed on down to our son, God willing.

The present house will also be one that will be able to bring us some income should we rent it out to offset our housing loan, and from what I heard, it can fetch quite a sum.

So, *sigh* looks like this new semi-detached house will just have to pass us by as it is still not within our means as we are both government servants who don’t make that much to own a house costing anymore than RM600,000.00.

So, for now…..I shall just have to go on dreaming….. *sigh*


Paul Lionel said...

Besarnya that house Nik. I'm sorry the price came as a killer. Maybe it isn't time yet.

LODY said...

don't stop dreaming nik, as soon it will happen!:)

i love the master bedroom and kitchen area... if i (or will) own a house like that, my craft room will have a bunch of clear windows so i can sceneries outside when i need some inspirations.

busymum100 said...


I read with full anticipation that you'll be our neighbour!!

Maybe next time? ;-)

When we bought the Ardisia, we didn't even see any show house, but I'm sure you agree with me that the design is good ;-)

Let's me tell you a secret - we had to borrow money from our son (Canada$4500) to help us make the down payment! He was around for the summer holidays, and had some backdated payment from his sponsor, so apa lagi.. pinjam lah!

And of course, we know we'll be "ikat perut" once we start the full monthly payment, unless hubby get more income, or I have to earn more? or both... :-(

Emily said...

Call me for interior furnishings when you buy!

Anonymous said...

Nun dearest, U already own a big semi-D house in KB.It has 5 bedrooms, garden and everything. Why not consider moving to KB and stay in this lovely house that I am now occupying.You will like KB. It is not as busy as in KL. Maybe you will come back when you decide to retire . KB is a good place to stay if you want quiet and serene atmosphere. At least that is what I am feeling now. It is cheaper too.Love you.Ma

Nik Adlin Fariz said...

Kak Nun,

I was "shopping around" with Sufia last week.. Saw a new development named Nerida in Denai Alam (just next to Bukit Subang). Maybe u should go and visit. U can try inquiring for a double-storey corner or end-lot. The price ranges from RM500k to around RM700k. Intermediate houses cost around RM350k. The end lots have big compound. Corner lots have an extra room.

Anyway, thinking about the situation you're in.. I think if you keep on doing what you're doing, it will be long before you can even buy the house. By the way, these show houses are a "true scam".. they make it so beautiful we feel it's going to be the best investment you'll gonna do. And your house will look as beautiful as the showroom. Only when we buy do we feel "cheated" as the house is bare - far from what u get at the showhouse.

Anyway, I always believe 9/10 of my income should come from business. That's why I have a business. Right now, I think i'm getting only 1/10 of income from business and 1/10 income from work. I'm moving towards getting 8/10 from business and I hope it's not that far from my reach.

I think you can afford the house when u start realizing that 9/10 of your income should come from business. I mean, not just realize, you should work towards getting it.

There's no better time to start doing business (especially now that the govt "allows" it). I'm not asking you to stop work alltogether.. You should actually start online business and try to sell whatever you've been doing/making to the world. The later you start, the older you will be. And getting a loan (normal bank loan) at a later age will translate into higher repayment. (I don't know about govt loans).

I'm starting an online business soon and plans to sell merchandize or customized products. I'm also building an e-commerce site for people to sell things. Site dah ada at but not much content yet. Baru je buat. I think u should think how you can help and make this new kedai a place for you to earn extra income.

You'll never know.. Maybe that house may not be just a dream anymore. You've got 1/10.. lets find the 9/10..

nikai / eli said...

IMHO you have to seriously consider your budget before committing to this big investment. Bear in mind all the subsequent cost of prettifying and furnishing and equipping the house -- it can be 25% or more of the purchase price, based on what Eli spent on the BSP house. So go for something you can afford without foregoing the essentials. You can always have a dream house somewhere else cheaper.

eli said...

K Nun, I got yr sms but I was out running errands. I called Nik Ai and told him abt it.

Whoa... the house is really huge and beautiful, I really like that huge master bedroom. But the price is pretty steep at minimum 600K++...hmm... mahalnya rumah sekarang...

I hope you can work it out with Abg Man and own yr dream house soon :).. wherever it is... insyaAllah.

Take care!

Nik Adlin Fariz said...

A cheaper house somewhere far from your place of work pun x boleh jugak. You have to factor in the transportation costs, etc. Unless both of you work from home, there is no reason for you to find a cheap house in Zulu. Setia Alam may have good houses, but factor in the toll & fuel that you'll be spending on top of the furnishings, renovation and monthly repayment. It will be a killer!. Having a bigger house by sacrifying your life's wellbeing is not a good option.

Ma's recommendation for u to stay in KB may be good once u retire or again, when u're on your own.

Actually, balik2 cerita sama jugak. 9/10 of your income should come from business. Or find something that is within your reach.

Then you can dream about other nice things..

Za said...

Yup, it's a big house, Paul! Something I can only dream of at the moment. *sigh*

Lody, no, I won't stop dreaming. *smile* In fact, I am going to take both my brothers' advice, and think about that 9/10 income thing.

Ayis, and NikAi, Eli too, thanks for the advice and show of support. I needed that. I sure could do with the financial advice too.

We simply have no bisness and financial sense when it comes to knowing how to make money from money.

Ayis, maybe I should have you over for dinner or something so that we can talk bizness. *wink*

Emily, I will definitely remember you should we do buy a new house.

Yeah, Sabariah, I was looking 4ward to being your neighbour too, but, it was not yet meant to be, for now....I am sure things will fall into place soon if it was fated to be so.

Ma, I remember the semi-D in KB, but that house is meant for you to stay for as long as you wish to do so. Should you wish to move out some day and move into your lovely new condo, than I plan to rent it out so that I can at least make some income from it.

At the moment, we need to stay or look for a house that is nearer to Mak, or, at least, in the Klang Valley, as Azman has responsibilities to his parents as the eldest son.

Anonymous said...

thank you Nun for letting me stay in this house for as long as I want. But when I built it in l984, I had you in mind and remember it was you who choose the color scheme for the kitchen and bathroom. But You were not yet an architect back then. Of course you can rent the house if I to move to mynew condo but the problem is the condo cannot accomodate all my barang2 and all of Ba's souveniors. How??

BTW the rental from this house would not be enough for you to buy your dream house in Klang valley, that I know for sure.So pl. make alternative plan.

Anonymous said...

Ayis is right Nun, don't be fooled by show houses.They are 'real scam'. I was fooled too. My condo is way below my expectation. They gave me lousy doors and keys that broke the first time I tried using the keys. Though they change the keys I was still not satisfied. So I changed all bedroom doors into solid doors. And of course I had to spent more money to make it look nice and comfortable.It was just bare.bare.bare.

Of course I did not regret buying cos I had always dream of owning a house by the river or sea since I set my eyes on my friends house by the sea situated next to the Sabah Faundation in KK long long time ago.

... ... ... ... ... ... nik elin said...

I could give free legal fees if you asked me.

Buying property for investment needs full study. Nik Ai does very well. You must ask him for advise.

As for me I must say that buying property is a gamble. You either win or lose. No two ways about it.
You must be prudent.

I have many properties. I am suffering now. But I had planned that by the time I am 60 years old, (which is another 13 more years) I would have settled all my loans. And mind you, I owe RM1.3 million, not taking into account interest charged yet. Taking a bank loan with CIMB was a major major mistake. They penalise you for paying late and they penalise you if you pay early.

Their interest rates are very high but looks very tempting initially. They give low rates initially and then after that its +2% over BLR which kills you.

What I do is I try to manage my loans so that I pay very little at the end of the tenure.

Yes, every month I have to cough out more than RM8k a month to pay for loans. And bear in mind I am a single income earner and have to spend RM2k on airfare per month. That means that I have to earn more than RM14k a month. But I dont. (I also need at least RM1k a month on facials, hairdressing, and looking good!) So, I take loans over loans.

May I suggest you invest in a very expensive property that can fetch rental that can subsidise both your houses (house to stay in and house to rent). Cari rumah kat Malay reserve land in town like Kiara view. Rental can fetch RM15k a month although the property costs RM1.4 million. But its good investment. Expatriates will take up your condo or semi dee.

Thats why I dont drive a Mercedes.

Nik Adlin Fariz said...

I've heard Robert Kiyosaki's talk (on CD) a few years back. And I've read about Rich Dad, Poor Dad. I think what he did was to buy a property at a good location (location, location, location) and within a limited time frame, sold of the property at a higher price. Its like duit atas angin. I'm not sure how it can be done here.. I only hear what he did to become rich but I dont have the guts and wont risk my savings trying to sell of a property in a short time. Although I'm a businessman, I'm not a high-risk taker, unlike RK or donald trump. That's why they can afford what they want.

The last line from Klin's response seem to suggest that you buy an expensive property and rent it out to get income that can service both the house and ur current house. It sounds very tempting. But do u dare?

I dont..

Azman/AbgMan said...

Hmmm, it's becoming a virtual forum here...agree w Ayis, the best way to make money from property is to buy low and sell high. To make money from rental, you need to invest in high end properties with added value, like golf membership, security, and yes, location! But only ppl who drives Mercedes can afford those kind of properties. Rental income for most people is just to offset our financing n misc expenses (instalment, interest payment, assessment etc) while waiting for our property to appreciate in value. Yes, rental ALONE won't buy our dream house but it will still help in providing a steady income to fall back on. Even a modest rental of RM500.00 would help in Klang Valley. Lately, I've been thinking that it's probably time for me to cash out on a couple of my properties so that we'll have a ready source for housebuying expenses. Or maybe I'll buy a Merc....:-)

Anonymous said...

if you are still interested, they have this 5/95 promotion now. loan of 95%. free legal fees (for spa & loan), stamp duties and mot..

but you need to come up with the 5% which is around rm30k.

bought one, down payment can make arrangement dgn bank sama. take up personal loan..

we basically took up 100% loan..

and the best part is, you do not need to pay unless you receive the vacant possession, which is around end 2010.

ample time to sell your property etc..

well, that's wat we did when we bought the tectona unit.

deirdre g said...

Great house with excellent features. Beautiful! house for sale Philippines