Tag Archives: apartment

Home is never easy to be built up

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My wife and I bought a second hand apartment several months ago.After paying for all legal fees and charges for transactions,we successfully got the key of the house one month ago.

It’s not the end of the story;in fact,it brings up dozens of new matters that we need to care about,eg. what is the budget for the renovation,for the furniture and home accessories?What kind of renovation we need to do?Of course,more small stuffs jump out all the time so that we have to review our plans again and again,trying our best to solve it.

My wife works hard in the office every day.As the freeman,I have to take the most care of the house because from my thought,it’s a new beginning of our life.I could never allow to mess it up.I run several times a day to my unit which is located at fourth floor to check for the progress and communicate with the contractor to ‘moisturize’ the plan instantly.I ran myself to choose the lights and tiles.I drew the floor plan by myself to draft the way to put the furniture.

I can say that sometimes even in my dreams,I also dream something about the renovation.Well,I’m damn crazy on it.Oops,the renovation work will last for another 2-3 weeks and I have to keep going on it.It’s tired,but I do enjoy it!Home is never easy to be built up.I’m on the way to make it happen.Maybe it’s not perfect,but I tried.

Simple floor plans

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The apartment I bought months ago will be transacted to my hand in any second.So I think I’d better to learn how to plan to do some simple renovations of that unit.A floor plan may be helpful to let me see the effects of arrangements directly and easily do some adjustments later.Here we go.

2D floor plan

3D floor plan1 3D floor plan2

Well,I believe the real thing will not be so simple at all. :)

Rent it or Buy it?

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In these days I take some time on considering of renting or buying a property and now I initially form a picture in my mind.Let’s say I’m going to either rent or buy the same condominium valued at RM130,000 currently.In my area,most of these apartments have 3 bedrooms and 2 bathroom.It will be big enough for a 2-people family to stay in.

Property

Buy

If the owner is willing to sell it at the market price RM130,000,I need to pay more than this amount because I have to process the Sales and Purchases Agreement,Transfer of the title,legal fees and then Stamp Duty which may be up to RM6,000.In Malaysia,we have to pay at least 10% down payment.In this case,that means at least RM13,000.So I have to prepare RM19,000(RM13,000+RM6,000) of cash at first.According to current bank loan policy,the rate of Home loan is around BLR-2%.After some calculation,I could get the monthly installment for the following 20 years is RM680-RM700.Of course,the more I pay on the down payment,the less I pay for the installments.

After 20 years,I own the property worth RM130,000 theoretically and only need to pay monthly maintenance fee.

Rental

As I know the rental fee of that kind of apartments is RM500-600.So I just pick up the higher one RM600 because the rental fee should be raised possibly every 5 years.Well,it is RM100 lower than the monthly installment.However,the total money I spend on rental in 20 years will be RM144,000(RM600*12*20) and I leave nothing after all.The worse thing is I must keep on rent a place to stay.(Be noted that the rental fee at that time may be raised to another high.)

 

To sum up,I prefer to buy a property instead of rental as rental is just like putting money into a bottomless hole.How do you think?