Well, after thinkig for long pass few days, I have decided to put a hold the decision to buy the house in Shah Alam area and what I am going to do is look for more choices before making the decision. Reasons being:
1. Houses in Shah Alam area is mostly leasehold, wherein for leasehold houses, one of the bank loan requirements is after serving your loan term, your property must have at least 30 years left in the leasehold term. Meaning the latest you can make bank loan is before 60 years left in lease term. Considering the house in Sunway Kayangan the we were considering will be expired in year 2092 (2092-2008) is left with 84 years lease term. I will face difficulty in selling the house in 24 years time because if left with 30 years lease term, the new buyer will have difficulty in securing a house loan.
2. Location: after considering the location which is in my opinion is abit far from where I am working, further more with increase of fuel price, toll price and traffic jam, it is not advisible to get a house in Shah Alam.
3. Advice from my uncle that the economy is going to be going downhill, thus causing the house prices going down as well. So instead of getting a house now, better wait a while for the right time to get house. From what I see, there is truthness in his words. The global share market downturn these few days further prove our theory ;)
So after due consideration, no house for me for the short term. Better survey more for other options in other places and wait for the right time ;)
Till other time, chaous!
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