AskGuru Q&A Community

Hi Xine,
1. House is a landed property either built upon leasehold or freehold residential land only.
2. Apartment/Condominium can be built on leasehold or freehold residential or commercial land. If commercial land, your yearly quit rent, assessment rates, utility charges are marginally higher.
3. The important criteria for end user buyers are mostly location, pricing and type. Leasehold is a sensitive issue if it is less than 20 to 25 years because of it's rating eligibility for bank loans. Leasehold period can be renewed by paying a premium to the land office. If you are using the house, you don't need to think about renting it out in the far future. You can always sell it.
4. The negative part about selling leasehold houses is that it needs consent from the Land Office which may take a few months longer than selling a freehold property.
5. Apartments/condominiums on commercial title do attract higher costs quoted above than a residential title but not overly exorbitant.
6. I have not heard of a one bedroom house but a studio or 1 bedroom apartment, yes. I know the smallest house that I have seen in Subang Jaya are the 2 bedrooms link houses which are smaller and limited. Renting out a studio or 1 bedroom apartment at RM1,500 is possibility a very high expectation which will be challenging to achieve.
7. Buying an apartment/condominium will attract monthly maintenance/service charges unlike a house.
8. However, with your budget it will be difficult for you to buy a house in established areas like Subang, Puchong or Shah Alam. Maybe a small apartment/condominium.
9. If you are a foreigner, you can only buy a property above RM500,000 in value.
Do email me for further advise if needed at davidwong@quantumrealestate.com.my
Thank you
David Wong (Tel:+60193330573)
Principal
QUANTUM real estate
www.quantumrealestate.com.my Read More