Recently my husband and I, we
started discussing about moving into a bigger house. We bought our current house about 5 years ago
when we decided to settle down. Back then I remember the property price was
rocketing as the economy was getting better. The houses you thought you could
afford were going beyond the original market value as the economy was steadily
improving until the end of 2009. In 2008, the Housing and Local Government
minister Datuk Wira Chor Chee Heung said that there is a long way to reach the
property bubble in Malaysia. According to him, the property prices were rising
as a result of initiatives and measures taken by the federal government due to
the land cost, building materials and vibrancy of the economy. Anyway, by the
middle of 2009, some of the housing developers were facing difficulty selling
their units as a result of a sudden gloomy economy condition which resulted in
poor sales. I still remember when my husband told me that there’s this
condominium selling their units for a discounted price, somewhere around the
Cheras area. I was in awe. It took me a while to grasp the whole idea of
finally owning our own house. My dad has always been a man who constantly
reminds me how important it is to own a house than to rent one. He always says
when one rent a place the money spent is actually lost without any returns
compared to owning a house which appreciates with time and when sold you
actually make good profit, which you can always invest in another house. Purchasing, owning, managing, rental or sale
of property for profit is what we call property investment but somehow it is
not for everyone. Normally most of us would only house-hunt when we need to
which could be due to a change of career location or for an upgrade. Now that
we do own a house and thinking of an upgrade ourselves, looking at the prices I
think I’m going to faint. I mean, for the size of our house being a condominium
unit, to my surprise we can actually sell it for double the price we bought it
for. Of course it makes you wonder how come? Well the whole area appreciated
with time and being on top of a hill doubt as the “Little Genting”, the
condominium is overlooking the beautiful view of the city of Kuala Lumpur which
is amazing at night with all the lights. Plus with all the renovation done from
the kitchen cabinets to the sliding door for the bathroom to separate the wet
area to the dry, some of the units can be viewed as worth the money spent. Since the property prices are incredibly high right
now selling our house is definitely the right move as you have no idea how long
the economy could sustain before the bubble bursts. And when it does, all the
property prices would also drop which would mean selling our house would be
difficult and not to mention the profit we might not make. SO it might be the right time to sell but is
it the right time to buy? It’s definitely a risky move. We are thinking maybe
we could sell now but wait to buy the next property hoping by next year the
price just might decrease. But can anyone be certain of this economy situation?
Is it that predictable? If it was I’m sure everyone would be into property
investment and make millions.