MAINTENANCE FEE

MAINTENANCE FEE

Today is a Saturday.

Usually, we will take a good Saturday or Sunday to clear our mind. That’s mean, no working.

But, it’s the most difficult things to do because people need help and advice from us regardless of Monday or Sunday. And of course, we’re happy to help too.

So, I was sitting at my table and clearing whatever paper, billing and receipts I have. Come to my attention new billing, maintenance fee & sinking fund for my new condominium.

I remember years ago, I was paying a maintenance fee of RM30 for my low-cost apartment.

After a few years, I got a medium cost apartment, and we’re paying about RM100 per month for cleaning and security.

And then, when my sister bought a new condominium, she is paying RM230 per month @ 1200 sft unit. Which I think is quite reasonable.

Today, when I look at my maintenance & sinking fund bill of RM450 per month. It’s stricken me. Real hard. I’m going to pay this for a very long time. I hope it’s worthy.

But, I guess the security, cleanliness, facilities, garden, sky garden, swimming pool, low density and other stuff counts. And owning one of the biggest size units does contribute to one of the reason too.

Personally, if the things were maintenance well, I don’t mind to pay. So, let’s see how things are a couple of years down the road.

Moral of the story, If you’re buying an under construction unit or even subsale unit, it is essential to justify your purchase by adding up the future maintenance fee & sinking fund too.

Always ask the developer or the agent how much will be the future maintenance fees and sinking fund. And add up those amount to your monthly instalment.

For example,
House instalment: RM2800
Maintenance Fees: RM400
Sinking Fund: RM40
Total commitment per month: RM3240

When making a decision, always aware that you’re going to pay RM3240 not RM2800 only. Also, always aware that the maintenance fees and sinking fund will have high chances to increase in the future rather than decrease.

Despite all, living in a condominium is really giving peace of mind, soothing and comforting feeling for me. I do enjoy it so much.

Happy weekend!

Melissa

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By | 2018-01-20T14:24:27+00:00 January 20th, 2018|Buying A Home, Latest News and Update|0 Comments

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