Been awhile since I updated on my property search. Reason being that I decided against Casania and moved on to other developments for three reasons –
1. Earlier owners bought the property for RM410K and here I am buying the same thing for 1.5 times more. I reckon I would somehow lugi if we all decide to sell/rent it out at the same time.
2. While the place is predominantly Chinese and super wong, I can’t help but have this nagging feeling that there is a strong Buddhist presence. Not that I discriminate but as a Christian I would prefer not to place myself in a potential conflict of beliefs.
3. Financially speaking, getting this place without renting it out would put a huge strain on our finances and this is not very wise.
So there it is. Having to search all over again. I borrowed this book called Real Estate 101 under the Donald Trump series and one of the sentence struck me – when one window of opportunity closes, another opens. Depends on whether you search for it.
I still wanted to invest in JB but prices in the west near Nusajaya were appreciating way too fast. So just for the sake of exploring, I turned my attention east.
I was surprised to find out that the east is pretty accessible with the completion of the Permas Jaya bridge and there is much less traffic here. We chanced upon a new township called Bandar Seri Alam and found this really beautiful development called Park View.
It is a 3 storey semi-D, huge build up (3100 sq ft) and land (40 x 80) atop a hill and greenery all around going for RM608K! The developer is Scudai, a relatively good local developer and the house will be ready in May. Also found out that there are many universities to be built here coupled with a hospital that is Medisave approved. The community here is made up of businessman, managers and doctors.We went back to do some calculations and like Casania was disappointed that while we could afford, it would be a strain on our family finances so with a heavy heart, we had to give up on this as well.
Last week we took leave and together with Joel we decided to do an intensive comb of properties marketed by reputable Malaysian developers over two days. In total we managed to view about 8 developments bringing our total to a whooping 23 property show houses. I think we’ve seen so many houses until we cannot tell them apart anymore. Ha ha!
But I am happy to report that on our last trip, we finally found a place that is suitable for us. It is not the most pretty in terms of design but it fits our budget just right. In fact, calculating the psf across the houses we’ve seen in east, west and north, I would say this property ranks one of the highest in value for money.
The project is called D’Sierra Ville, a 2-storey link semi-D (aka cluster) in Taman Sierra Perdana located in the eastern side of JB. As the asking price for an intermediate is less than RM500K, we had to opt for the corner unit with extra land (42 x 70). The developer Mah Sing is giving a 10% rebate now so we will get the unit at RM480K even though it is stated RM545K on the sales and purchase agreement.The taman is located right smack on the JB east coast highway which is planned to be open at year end. This will cut down travelling time to CIQ immigration to 15 minutes. Not that we’re planning to move here but the proximity and accessibility would be a plus point.
Only con is that there are no amenities in the immediate vicinity although they are selling shop lots just like one lane down. Otherwise the nearest shops would be north to Bandar Seri Alam or Masai or west towards Bandar Baru Permas Jaya.
I guess this is it because I don’t think I can find a better deal than this already. Park View would still be choice no. 1 but this one fits our budget best so we are more comfortable with the decision.
Theo asked me what on earth are we going to do with it with the house once we collect the keys Q3 next year and honestly even I am not sure if I will be able to rent it out. But my main purpose for this investment is my strong belief in Iskandar Malaysia to be the future hinterland of Singapore and better to have a stake now as insurance/investment since we can afford it.
Will be heading in to place a RM1,000 booking fee this week and then to start searching for mortgage loans which would be another headache. I’ve shortlisted a 9 banks to approach and most of them are located in Permas Jaya itself so it would be pretty convenient. Will update on the costs involved in a purchase and the best loan package once I get the information.
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