Wednesday, February 19, 2014

Buying a House is easy, Buying a Home is not

Post 2, 

Why is this? 

Penang Real Estate is saturated with many purchasers purchasing house (be it landed or non landed)  for investments,  many of them renting out fully furnish apartments. 

This has cause prices in general to move up,  leaving affordable housing scare,  to the extend that many from the island moving over to the Mainland, where the whole vicious cycle start up again. 

Even with step taken by the Federal and State Government,  Price will go up,  its the question of how much,  unless either price control is put in,  or by increasing the number of houses available on the market, @ suitable locations. 

Frankly speaking I do not have much choice, even with a modest requirements

1.  affordably price,  instalment of around RM700 to RM800 per month, after a good size down payment
2. Locations,  Locations, Location within 500 meters 
    a.  Banks
    b.  Market / Supermarket 
    c.  School,   Primary Chinese, Secondary  Normal  
    d   Kopi Tiam n Food Courts
    e.  Some Form of Public Transport 
    f. Extra Parking
3. Clean Apartment Complex
4. 800sq ft. 

I would think with such modest criteria,  I would have no problems,  Big mistake!!

Starting my search some 3 years back,  concentration on the Island,  I found that affordable (to me that is)  apartment, will mean staying in Batu Ferringhi,  Relau,  Paya Tebung etc,  places really out of the way,  and that will be in 700 sqft apartment.  Any Close to town,  will be in sub 700sqft apartments,  super congested areas,  and mostly lease hold.  So my location of choice is shifted to mainland. (Lucky my place of work is on the mainland) 

Note:  There is nothing wrong with a 700sqft apartment,  fact is lots of ppl stay in small places,  unfortunately the Malaysian Furniture Industry is fixated with bulky furniture's. 

On the Main land,  I could only really look at  is Butterworth or Bukit Mertajam (places with reasonable apartments),  with the Shift to Kepala Batas,  Seberang Jaya, Bandar Perda, by some Government Departments, Butterworth is not that congested as yet,  (though accessing the only way out ie the Federal Route 1 & the PLUS highway can be a nightmare at times),  and basically Butterworth have the infra structure required that I would like to have. 

Bukit Mertajam, well let say having stayed there before,  It not my town of choice,  especially with the traffic. 

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