How’s your weekend so far?
Today, I came across an interesting article about overhang property in Malaysia.
Over the last couple of years, there are so many overhangs property all over Selangor, Johor, Kuala Lumpur, and Penang.
We love to buy a house from a developer because it’s new, nice, comes with great facilities and in general, people just love a new house, a new start. You’re the first owner. You feeling brand new too.
If I’d guess, it’s like the same feeling we all have when we are in the new year mood. A new beginning. Something about a new house that makes people happy in general.
OK, Let’s be real. One thing and not many want to admit these facts.
Developers are selling a pricey house. And we’re not sure who are they building all the properties for, it ain’t for us Malaysian because most Malaysian are not affordable to buy all these properties. ?
So, if you’re still going ahead to buy the property from a developer, I hope it’s for own stay. Because the property yields it no longer as attractive as before.
And one more thing that people lack to realize is there were lots of property here in Klang Valley that built by the developer and completed, but no buyer or takers for second-hand market. The completed properties might have good market value but no takers.
I hate to see many people burning their pocket buying something they can’t afford and hurting financially.
All these houses, either the owner will try to sell or has to rent it out with a lower price.
One thing about renting out your place. It all depends on your luck. If you get a good tenant then is great! If you don’t, then your nightmare just started.
So, in this video, I have advises for my viewer before buying a property from the developer.
Watch the video to hear my explanation.
I hope you find this useful and have a nice weekend!
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