Asked by Rachael Teoh
Hi iherng, I really love your channel and how you answer questions from followers. Hope to get your advice on our situation too.
My partner and I bought a freehold double-storey landed terrace together for close to RM600k as a preparation for our marriage house. The property is located
14km away from IKEA Simpang Ampat, 5minutes to Iconic 2 & have a supermarket, eateries (coffee shops) & an international school in less than 3km.
Reason we have chosen a landed property is because both of our parents are already close to 70s. We thought that it would be easier to take care of them in a bigger house whereby everyone will have their private spaces while I have a bigger space for my home based bakery business. Moving stocks & goods in a landed house is so much easier than having to cramp in a lift of a condo.
However things gotten a little off plan when he has to move down to KL for work while I have to stay back in PG for work and with my family. Penang will still be our destination of choice to be in for retirement. Therefore, I'm still in a dilemma whether should we:
1. Renovate the necessary
& rent out the house
2. Renovate & move into the house with my family. Rent 2 vacant rooms out just so the space is optimized while enjoying some rental income.
3. Sell it (very reluctant since I love everything about the house)
4. Just leave it as it is
We have no problem with the installment but a little doubtful to renovate it since it will suck up quite a bit of cash which will be better off used to fund some other cash cow. Parents on the other hand were saying that it's not good to leave a house empty for too long as "friends" and will occupy it.
What will you do if you're in this situation? Appreciate your thoughts.
Regards,
Ms. T
My partner and I bought a freehold double-storey landed terrace together for close to RM600k as a preparation for our marriage house. The property is located
14km away from IKEA Simpang Ampat, 5minutes to Iconic 2 & have a supermarket, eateries (coffee shops) & an international school in less than 3km.
Reason we have chosen a landed property is because both of our parents are already close to 70s. We thought that it would be easier to take care of them in a bigger house whereby everyone will have their private spaces while I have a bigger space for my home based bakery business. Moving stocks & goods in a landed house is so much easier than having to cramp in a lift of a condo.
However things gotten a little off plan when he has to move down to KL for work while I have to stay back in PG for work and with my family. Penang will still be our destination of choice to be in for retirement. Therefore, I'm still in a dilemma whether should we:
1. Renovate the necessary
& rent out the house
2. Renovate & move into the house with my family. Rent 2 vacant rooms out just so the space is optimized while enjoying some rental income.
3. Sell it (very reluctant since I love everything about the house)
4. Just leave it as it is
We have no problem with the installment but a little doubtful to renovate it since it will suck up quite a bit of cash which will be better off used to fund some other cash cow. Parents on the other hand were saying that it's not good to leave a house empty for too long as "friends" and will occupy it.
What will you do if you're in this situation? Appreciate your thoughts.
Regards,
Ms. T
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