Property Investment & Me

Aware of the lucrative investment in property... but no serious action taken.  Read blogs, knew success of close people but that was it. I think that was in 2011.

I've always want to own a property since the salary revision in 2012. 2 of my in laws are actively seeking properties for investment and they have about 3 properties each.

I know I have missed the boat. But back then, I didn't I have any extra to invest. Only now the wealth effect has hit me but the property price seems beyond reach for under constructions properties.

Went to IProperty expo at Paradigm Mall last Saturday. Nearly bought a UC (under contruction) 2 bedroom apartment at RM383k (412k before 5% discount) in Shah Alam.
It's actually over my budget. I'm prepared to pay around RM1.5k for installment and this one calculated about RM1.8k (excluding maintenance fee of 0.22 per sqf)

Why did I even consider? Because:

• Low entry cost. RM2k booking and pay about RM10k more for down payment. Exactly the money I have right now without touching my KWSP A/C 2. The instalment will only start in 3 yrs time (2016) when it is completed.
• it's in Shah Alam (location). The buy is more of 'double edged': initially for rental also for my kids to stay if they go to UITM.
• freehold
• proper apartment with 2 bedroom although it's around 800 sqf. Others are selling SOHO/SOFO/SOVO, slightly lower price because they are smaller.
• the freebies attracted me (4 airconds/kitchen cabinet/hood and hobs).

Nearly, nearly paid the downpayment... Planning to come back on Sunday because it was already 8.00pm. 'Think over it first' said my wise husband.

Of course, I had a 2nd thought the next day, not as eager. My husband even said he had never seen me so unsettled/worried. Yes, I couldn't sleep over it. Go or no go? I don't know!!!!

The next day, my husband drove me to Shah Alam to show the area of the property (it will only start construction next year). The decision was totally up to me, no warnings or encouragement for Mr Hubby. I'm solely responsible. I decided not to go on with the intention.

Why?

• This is my first buy and I'm willing to pay 1,800 + 200= 2k per month. Shouldn't I start small?
• I don't even know whether 400k is the current price of an apartment in Shah Alam. I didn't do my research and homework.

I conclude that if I bought the apartment, it would be an impulse buying.

We discussed on the way home because hubby also wants to start investing. Health issues tackled, next is property investment.

Need to equip myself with knowledge first. In sya Allah, there's another boat coming that I can hop on. Hope it's a speedboat. I just need to be prepared so I won't miss this one!

Ya Allah! Perkenankan.....