Living in JB

[checkers]

One of my young relatives wanted to follow my footsteps to buy a house in JB..she says she has around S$20K in savings and ask me what she can buy over there. This is what i told her...

"Use the money + CPF to buy HDB flat in Sing first...take as little loan as possible and pay off as fast as you can...after that then come and look at JB houses."

Cheers.

Interest rate for singapore loan is low. Think it is better to loan than to use her cpf which earns a higher interest.

 

[checkers]

Wuqi: "I was busy with work today and just had a fall yesterday so wasn't too well ......"

Wishing u speedy recovery - take care.

Wuqi, health is worth much more than wealth ...

 

[spidey]

Re: Investing in Nusajaya

This view I support , bro I can go to your garden to pick durian ?

sure bro - most welcome! provided there is any left..hahahh

 

[jasonjst]

One of my young relatives wanted to follow my footsteps to buy a house in JB..she says she has around S$20K in savings and ask me what she can buy over there. This is what i told her...

"Use the money + CPF to buy HDB flat in Sing first...take as little loan as possible and pay off as fast as you can...after that then come and look at JB houses."

Cheers.

Cannot lah , by the time she pay off HDB , what is prices like in JB ? Maybe got to stay much further beyong Iskandar lor . I think best to diversified into to JB in a small step , concurently.

 

[toyohon]

The rental market target in Johore is small and the "classier/richer" ones will get those high-end G & G Tamans. I have friends who rented out their landed terraces and besides the usual problem of delays in rent payments, the sight of the condition of the houses really breaks their heart. Not to mention the extreme cases where evicting tenants becomes near impossible.

 

[yonglip]

Cannot lah , by the time she pay off HDB , what is prices like in JB ? Maybe got to stay much further beyong Iskandar lor . I think best to diversified into to JB in a small step , concurently.

maybe my thinking more conservative la...better for her to establish her base camp first before she ventures abroad.

Its definitely better for her to do both if she has the funds. But with her limited capital, she can only choose one. For me, Sing should always be the first priority.

cheers.

 

[yonglip]

I am also wary of subsales...a friend of mine was recently taken for a ride when he bought a subsale unit. After inking the option to buy, seller came back and says now he doesnt want to sell...citiing reasons like he din know got early penalty redemption and other crap...blaming agent for not telling him this and that...i suspect the recent price increases has made him realise he can get more money if he hold on to the unit. to cut the long story short, the sale is now in a limbo...what a mess. i also suspect seller/agent collusion...i may be wrong of course.

bottom line,...get it from developer if buying or if need to buy subsale, get it from Singaporeans..at least won't subject to so much uncertainties...for locals, a RM50K increase in price is really a huge sum for them, for Singaporeans, it is just S$20K...so won't change mind so easily...i think.

cheers.

 

[aangsc]

maybe my thinking more conservative la...better for her to establish her base camp first before she ventures abroad.

Its definitely better for her to do both if she has the funds. But with her limited capital, she can only choose one. For me, Sing should always be the first priority.

cheers.

Same thinking my frenz. Unless Msia can progress by leaps and bounds overtaking SG, it is wiser to always keep ppty in SG while acquire a 2nd ppty in MY as safety net and backup plan for cheaper alternative when retired. For the rich , these does not apply as they can have it anywhere. For the young investor, they have to moderate their eagerness to acquire asap and reach their dream as early as possible, the typical weakness of us in SG ; kiasu mentality. Opportunity is always around as countries go thru boom and bust cycles.

 

[Grago]

Re: Investing in Nusajaya

For the past few mths of daily researching n reading up on Iskandar's properties, have found many useful info n insights frm various forums, of which 1 would be right here...and happy to say that i have secured a new unit myself. However since the beginning up till now, everyday i read up on new posting with mix emotions. 1st-ly im a msian myself (a spr), like many im buying a house for own consumption yet do not want to be too far away frm spore as i've spent most of my life in SG, where all my good friends are sporean, thus johor properties seem like a natural choice. Next , i belive what im gona say will probably ruffle some feathers.On 1 hand being a m'sian i would love to see msia (specifically in this context, johor) prosper and achieve economic progress, on the other hand, i feel upset whenever i hear abt sporean getting ripped off doing business in msia, or paid for a housing project that gets abandoned halfway thru or...take the plunge into a purchase and got confused into buying something that's overpriced. Now my rantings....in this particular forum which draws thousands of readership regarding properties in iskandar johor, im not surprised that there are many many johor real estate agents amongst us here, and i see some really clever marketing of properties. Well fine, as long as genuine house hunters get useful info, then all is good. But increasingly i smell many rats n smelly fishes doing their rounds in a bid to apply pressure on potential purchasers to committ on a purchase (there are only a handful of active agents in johor's market, by coming together to promote properties, its only a matter of time when the units they are marketing gets picked, so its really ok to remain anonymous n continue posting here). So genuine home hunters, do not just believe all that you read, property purchase is (no matter how cheap, or no matter how strong SG currency is) proceed with care and do your own logical research b4 you take that plunge. Last but not least, to our friend spidey's post, here's my 2 cents worth:My summary /interpretation is this: From a fresh reader's perspective, i would have interpreted it as: Damn, i better hurry up n buy smthing cos even at 500k i cant get a decent gated&guarded house....wat the heck, 600k quickly go grab 1st. After buying n move in, realise neighbour's house for sale for 400k for past 6 mths still no buyer, end up either auction or sell to his/her agent for 350k. End of the day sporean buy expensive/overpriced house, poor uneducated johor uncle sell house away cheaply, housing market gets inflated, local johorean blames sporean for high property prices. Well, i might get shot n flamed for this long posting, but i sincerely hope there are as many who will benefit frm my sharing.

Bro GP (sorry your nick very long to type...... ) I commend you on your selfless help, like Bro Wuqi, most on this forum are trying to get a better and saner place to live whiteout running the gauntlet of being 'ripped off'. Thumbs up to you Bro.

 

[arsenal]

Re: Investing in Nusajaya

What GorengPisang said is true. Buy within your means.. However while one need to be rational, one also need to have some gut, luck and timing.
Singpapore property such as the Sails, Sentosa Cove was less than $1K psf at one stage.. 99 year lease.. It just doesn't make sense.. Property selling at 1K psf in Woodloand or Jurong also make no sense today... The easiest time to buy property is when market bottem from a crash..or it it when market is taking a turn to go up?

Isn't stocks a better option than property? or is it all about timing? Buy when there is fear?

For the past few mths of daily researching n reading up on Iskandar's properties, have found many useful info n insights frm various forums, of which 1 would be right here...and happy to say that i have secured a new unit myself. However since the beginning up till now, everyday i read up on new posting with mix emotions. 1st-ly im a msian myself (a spr), like many im buying a house for own consumption yet do not want to be too far away frm spore as i've spent most of my life in SG, where all my good friends are sporean, thus johor properties seem like a natural choice. Next , i belive what im gona say will probably ruffle some feathers.

On 1 hand being a m'sian i would love to see msia (specifically in this context, johor) prosper and achieve economic progress, on the other hand, i feel upset whenever i hear abt sporean getting ripped off doing business in msia, or paid for a housing project that gets abandoned halfway thru or...take the plunge into a purchase and got confused into buying something that's overpriced.

Now my rantings....in this particular forum which draws thousands of readership regarding properties in iskandar johor, im not surprised that there are many many johor real estate agents amongst us here, and i see some really clever marketing of properties. Well fine, as long as genuine house hunters get useful info, then all is good. But increasingly i smell many rats n smelly fishes doing their rounds in a bid to apply pressure on potential purchasers to committ on a purchase (there are only a handful of active agents in johor's market, by coming together to promote properties, its only a matter of time when the units they are marketing gets picked, so its really ok to remain anonymous n continue posting here). So genuine home hunters, do not just believe all that you read, property purchase is (no matter how cheap, or no matter how strong SG currency is) proceed with care and do your own logical research b4 you take that plunge.

Last but not least, to our friend spidey's post, here's my 2 cents worth:



My summary /interpretation is this: From a fresh reader's perspective, i would have interpreted it as: Damn, i better hurry up n buy smthing cos even at 500k i cant get a decent gated&guarded house....wat the heck, 600k quickly go grab 1st. After buying n move in, realise neighbour's house for sale for 400k for past 6 mths still no buyer, end up either auction or sell to his/her agent for 350k. End of the day sporean buy expensive/overpriced house, poor uneducated johor uncle sell house away cheaply, housing market gets inflated, local johorean blames sporean for high property prices. Well, i might get shot n flamed for this long posting, but i sincerely hope there are as many who will benefit frm my sharing.

 

[Grago]

Re: Investing in Nusajaya

For all the good work you've done for us, sad to hear tis. U deserved better.

Bro Wuqi I second this sentiment. Should not have happen to a person like YOU!

 

[Grago]

Re: Investing in Nusajaya

What GorengPisang said is true. Buy within your means.. However while one need to be rational, one also need to have some gut, luck and timing.Singpapore property such as the Sails, Sentosa Cove was less than $1K psf at one stage.. 99 year lease.. It just doesn't make sense.. Property selling at 1K psf in Woodloand or Jurong also make no sense today... The easiest time to buy property is when market bottem from a crash..or it it when market is taking a turn to go up?Isn't stocks a better option than property? or is it all about timing? Buy when there is fear?

Bro, contrarian investor/investment strategy :0

 

[yonglip]

The rental market target in Johore is small and the "classier/richer" ones will get those high-end G & G Tamans. I have friends who rented out their landed terraces and besides the usual problem of delays in rent payments, the sight of the condition of the houses really breaks their heart. Not to mention the extreme cases where evicting tenants becomes near impossible.

For the average Joe in a standard terrace, let me try to work out the sums for rental...

Initial prep - basic reno/electricals/furnishings - RM30K depreciate over 5 years (optimistic) = min RM500 per month..one can also expect to spend this amount over the course of the rental for upkeep, replacement, repairs etc..
Maintenance = min RM100 per month (rubbish collection and security)
Interest = min RM1000 (if no loan lagi best)
Misc = RM100 per month (tax etc)

Rental = RM2000 (if lucky) and soon soon..

net rental income per month = RM300 per month or about 0.8% p.a. over a RM500K house. Interest to the banks is the real killer...else is workable.

for some, it might be so much work and hassel for so little...for others, as long as can cover the house, good enough...wait for capital appreciation (if it comes) and retirement (sure come)...haha.

 

[toyohon]

That's the beauty of this forum - heady dreams, aspirations, change of lifestyle with a mix of good ol' current reality check, haha...

 

[3_M]

Thanks for asking, my answers inline, some of your questions are familiar though, did you ask me on PM?

Thanks bro. My wife need to seek further clarification on some of the qns that why she asked me to post it.

 

[wuqi256]

Re: Investing in Nusajaya

Thanks everyone for your kind words and concern. Bone creaking everywhere. Slidded a long way out. No choice, for the family, i must press on. Dusted myself off but the rain took care of it and went on back to work. These few days accident prone, guess been working too late at night. The other day rushing back from Malacca to help a relative with furniture, always skidded but luckily regained control of the car. Checked again yesterday and saw rim and tyres worn so got everything replaced yesterday night. Luckily meng was still open and i "Satu Malaysia" him, in the end, now all my cars have Pirelli tyres. I would rather pay more for peace of mind then to worry about things later.

 

[arsenal]

wah.. some people injured (hope his health is fine) .. egg broken and price going to increase..

Misty fog in HH, isn't this make living in HH like living in a dream?

Two things to share today.

1) Heading into HH/EL from Tuas, saw massive jam at 2nd link around Gelang Patah side heading into Singapore around 7 plus am. This is the first time I have seen such a massive jam which stretch over 2-3 exit of the highway.. possibly 5-10km long. My friend was struck inside the mother of all jams and found that a huge truck had overturned and and most part of the body is in right most lane.. middle lane is also inaccessible. There are huge mess.. as thousands of crates of eggs and some metals were scattered all across the road.. at least 50,000pc eggs were crushed. Friend saw the emergency team carried a body bag into a vehicle.. Not sure if its really a body but it could be some eggs that had been overturned. Hope we dont have such major and fatal accidents so often!

2) Reaching Horizon Hills for golf, saw the whole place engulfed with misty. I mean, I cant really see 50m ahead. Only HH has this special nature effect. It could be the rain all day and night long.. I drove into Gateway and imagine I was standing at Gateway and can't see the Golf houses clearly.. such is the mist thickness which enveloped the entire HH. I was told by my friend when he was leaving for Singapore in the morning, he cant even see the Hills entrance when he was at the roundabout.. he thought the world is going to end.

Anyone experience this morning?

 

[wuqi256]

Re: Investing in Nusajaya

So far, in my own limited experience, rental is only good for certain areas and developments. When they do well though, they really do very well.

I would still suggest to buy the biggest you can reasonably afford for your own stay and to buy mainly smaller units in gated and guarded areas. (Buy only G&G where possible)

 

[wuqi256]

Re: Investing in Nusajaya

Thanks for sharing Horizonhills, that sounds horrible, hope not one got hurt.
I haven't seen it as i am not really able to move much today so didn't go out.

 

[wuqi256]

Re: Investing in Nusajaya

Bros and sisters, please do due dilligence before coming in. Its not foolproof but neither is it that bad.
Still, i hope to see everyone happy. There is already too much pain in this cruel world.

http://youtu.be/4k--iw5iKCg