Asked by MUHAMMAD HIDHIR
Hi.
Thanks for accepting to answer these questions.
I am 39 y/o working in Bandar Baru Bangi. My wife is 40 y/o working in Cyberjaya. We have 3 children 11, 3 and 1 y/o
We already owned a 2 storey terrace house in seksyen 5 bangi monthly rm1500. The property is leasehold, current loan balance 300k, market price around 500k-550k.
We are thinking to sell/mortgage this house to buy another house with a land (semi-d, corner, bunglow). Our shortlisted units are Serene Height early 2024, Pinggiran Putra end 2022 and Sungai Merab end 2023 . All the options are upward of 800k which translates to approx. Rm3500 monthly. That's is an additional rm2000 monthly.
My question:
1. Do we sell the current house or mortgage it.so that we can get additional money to knock down new house loan. Our savings right now is only rm1000. New house need another rm2000. So shortage of rm1000 monthly. But if sell/mortgage, can use that money to settle 2 car which free commitment around rm1700.
2. Where is the most strategic location? Serene is developed by reputable developer UEM but the other 2 sites are closer to my wife's office. Serene is completed in 2 years from now so have enough time to sell our current house. The other 2 are almost complete, we will have to pay 2 loans for a few months before can sell the house and that's we can't afford to.
3. Do we need to move at all or do we opt to renovate our current house? The house is almost 30y/o already from the previous non performing project taken over by PKNS. The structure is not that good but the location is the best.
Thanks again
Thanks for accepting to answer these questions.
I am 39 y/o working in Bandar Baru Bangi. My wife is 40 y/o working in Cyberjaya. We have 3 children 11, 3 and 1 y/o
We already owned a 2 storey terrace house in seksyen 5 bangi monthly rm1500. The property is leasehold, current loan balance 300k, market price around 500k-550k.
We are thinking to sell/mortgage this house to buy another house with a land (semi-d, corner, bunglow). Our shortlisted units are Serene Height early 2024, Pinggiran Putra end 2022 and Sungai Merab end 2023 . All the options are upward of 800k which translates to approx. Rm3500 monthly. That's is an additional rm2000 monthly.
My question:
1. Do we sell the current house or mortgage it.so that we can get additional money to knock down new house loan. Our savings right now is only rm1000. New house need another rm2000. So shortage of rm1000 monthly. But if sell/mortgage, can use that money to settle 2 car which free commitment around rm1700.
2. Where is the most strategic location? Serene is developed by reputable developer UEM but the other 2 sites are closer to my wife's office. Serene is completed in 2 years from now so have enough time to sell our current house. The other 2 are almost complete, we will have to pay 2 loans for a few months before can sell the house and that's we can't afford to.
3. Do we need to move at all or do we opt to renovate our current house? The house is almost 30y/o already from the previous non performing project taken over by PKNS. The structure is not that good but the location is the best.
Thanks again
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