Property hunting

So we went for property hunting last weekend. We were thinking of buying a properties near to my in laws housing area. Reasons being, the chances that my mil will stay with us once my sil move out from her house is very high. By staying near to both my sil, we can at least get some help whenever necessary especially if we have to go away for weekend, work late and many other reasons. The thought of having family near is somewhat drive us to this.

The property area is at Setia Alam. We are looking at Setia Eco Park at first as my sil mention when they launch the Semi D price is around 600k. My thought...the highest it could go maybe 900k after 3 years...or maybe 1.1 mill top. With confident we went there and what do you know...it is actually launching day for the new phase of their Semi D. To be eligible to buy you need to get a letter from the appointed bank by the developer. But that will not guarantee you yet, they have balloting system later and if you get it then you have to sign and buy there and then. We went to check our eligibility... which we pass...then next only we ask for the opening price....freaking 1.7 million!!!! For a semi-D. I use to think people who buy a terrace or semi-d that cost a bomb is silly...I guess I just one of them? No ? OK we don’t know yet. I told hubby why not we have a look at the show unit first. Who knows it is really nice and worth the money.

We hop on the buggy car and they bring us to this nice show unit area. Well to summarize, they have around 8 show unit different design and they are all disappointing. First the criteria is to have a bedroom with attached bathroom for the mil. Some of them some of them not. The second major turn off is on the kitchen design. Is either too small and (not or) all are facing the wall not the garden. Who cook in the dark ? I want my kitchen to be open and facing outside. I can’t tolerate on that but other things do contribute on why is it a no no to buy this properties. They have some show unit unfurnished. Means this is what you get when you buy the house. The finishing is ok but not great. You don’t feel that 1.7 mill is worth the feelings of the material that they give. Look at the staircase alone...Just a normal staircase like the one in my current house. Even the timber flooring feels cheap. I am not sure if the factor of the house is powered by solar make the price go up that much.

Anyway after spending a good 3 hours there we don’t think we are going to buy the property there for now. At least for that price. When we check the house around Setia Alam, the Semi-D now goes around 888k and above. Still crazy but pretty much reasonable. But they are selling like a hot cakes.

We start to expand our search and other possibilities. Property near Setia Alam maybe if not there. But this is just a thought for now. Property hunting is fun but with current market it is not wise to buy one. At least that is what we thought. People are crazy to buy not to stay but to re-sell. The properties price went up not 10-20% over years...but 100-200%. Our salary doesn’t goes up that much. But people still buy those house and spoil the market. (well people that are conventional like me might think that way). Since the economy is good now, best is to keep our money save somewhere. Stop buying and just relax. Hoping that later when the economy goes down again, then we can smartly invest and spend our money wisely. Perhaps this time I can go and look for lelong properties :p