Good Job, Selangor! Selangor property discount applies to all

SHAH ALAM: Prices of affordable serviced apartments, soho (small office, home office) and sovo (small office, versatile office) units in Selangor

will now be lower for everyone following new guidelines on state property development, says state exco Datuk Teng Chang Khim (pic).

Prices of these three types of properties have been lowered for all buyers regardless of their racial background, he said.

“Under the existing practice, 10% discount is given to bumiputra buyers.

“Considering that the target group is all the same – they are all people in need – we decided to extend the discount to all by reducing the properties’ ceiling price.

“We offer these properties to the lower and medium-income groups. There is no reason that bumiputras are given the discount and not non-bumiputras,” he said when contacted.

He dispelled reports that the Selangor government would no longer provide a 10% discount for bumiputra buyers of such homes.

“There is no question about abolishing it (the 10% bumiputra discount) but we lowered the price and standardised it for all,” he said.

He gave an example where the ceiling price of a piece of property had been lowered from RM300,000 to RM270,000, which would be enjoyed by all buyers starting Sept 1.

”Under the new guidelines, bumiputra buyers are not affected because they still enjoy a lower price.

”The state has also to set the selling price of these properties between RM230,000 and RM270,000,” he said, adding that the maximum household income for eligible buyers would be revised from RM8,000 to RM15,000, allowing more people to qualify for the purchase of such homes.

Teng, who is state Industry and Commerce, Small and Medium Enterprises and Transportation executive chairman, said Selangor had received suggestions to lower the prices of affordable properties to benefit buyers from the lower and medium-income categories.

He also said that the 30% quota for bumiputra property ownership remains.

Selangor Mentri Besar Datuk Seri Mohamed Azmin Ali said that as far as affordable and low-cost homes were concerned, the need transcended race, religion, skin colour and background.

“Being less financially capable and poor cuts across races and religions. Selangor’s principle is to help those with lower income to own homes.

“We have agreed on some new guidelines and they will be announced in detail by Datuk Teng and (Housing Exco) Datuk Iskandar (Abdul Samad) later,” he said when met after an art programme here.

Source: Starproperty.my

13 points to consider when buying subsale high-rise units

What are some of the things you should look out for when hunting for a high-rise home on the subsale market? Kimfield Properties agent George Loh shares 13 tips below:

1. Look at the density or plot ratio.

2. What is the balance of the lease of the land (if it has a leasehold tenure)?

3. Are there enough parking lots? Are the lots in a covered car park?

4. What brand or model are the lifts? Are they reliable? How many lifts serve the building?

5. Type of community or occupants (low-, middle- or high-end ) in the building; and whether the community is cooperative and communicative (eg are there any abuses of the common fund; are there any good and reasonable house rules available to resolve disputes easily).

6. Easy accessibility and availability of amenities (such as schools and shopping complexes) as well as the surrounding environment — for example, are there parks?

7. Information on future developments in the area.

8. Is the property selling at a reasonable price?

9. Appearance of the building, functional layout and design, good physical structure (no water leakage and free from defects), referring to Conquas or Qlassic standards.

10. Is the entire building or project designed for easy maintenance with lower cost, so that there is no tremendous increase in service charges in the future?

11. Is the concept of the development achievable and sustainable?

12. Good coverage of telecommunications systems like high-speed Internet connection or mobile coverage.

13. Most importantly — safety and security!

- Racheal Lee -

Does renovation boost the value of your property?

CONGRATULATIONS! So you have finally sealed the deal on your new home. Now, how much should you spend on renovations before moving in?

Truth be told, hacking at and tearing down walls of a newly-bought property are a norm these days, be it a brand new or lived-in unit.

How extensive the renovations should be would rest on the new owner’s investment objective; why he or she bought the property in the first place. Unless the intention is to flip the unit as quickly as possible, do expect owners to invest in some form of renovation works, or at least fit-outs for especially the high-rise units, which face renovation restrictions and limitations.

Space utilisation is very individualistic and personal. Not only do needs and wants vary from family to family, diverse views are common within a family. Understanding this, some developers have been known to walk the extra mile by offering customers varied layout options of the plan – that is, before construction work starts. Unfortunately, such customisation options could and would develop into a pretty nightmarish experience for both the developer and the buyer in mass housing.

Such a delightful service is only doable if a developer is building a handful and only very high-end detached homes.

Consider this – the wiring in the hall of a house. Buyer A wants a total of 12 power points in specific spots. Buyer B next door, meanwhile, wants 20 power points. Then, Buyer C down the road opts for 18 power points. And this is just the wiring in the hall alone!

Any slip in the plan reading of any of the units potentially has a far-reaching impact – on both developer and owner. Remedial works are not only expensive but time-consuming. Imagine the red faces and stress levels! This is definitely not a route that developers should take for mass housing. Should you come across such a “USP” (Unique Selling Point) being marketed for mass housing, do not get excited.

Back to renovations: how much should one spend? It is interesting as to how many home owners simply assume that whatever they splurge on renovations would be and should be reflected in the value of the property. How wrong can that be!

I was scouting for a two-storey link home in Kuala Lumpur in the early 1990s. Two units on the same road, separated by one unit in the centre, happened to be on the market.

The first house was elaborately renovated, with the built-up on the 24 ft by 75 ft plot maximised. I still recall how during the viewing the owner went on and on as to how much he had invested in the renovations. How the walls had been pushed outwards to the brim to create a lot more built-up space occupied by plentiful fit-outs.

Hopping over to view the second house, I found in it renovations that were far more modere. Yes, the built-up space (and fit-outs) was less than the first house but the trade-off was found in an abundance of natural lighting and a more airy feel to the house. Something I appreciated.

Strangely, this less-renovated house was priced at about 8% higher than the “bigger” house and it was non-negotiable.

No prize for guessing right – the decision was obvious and made immediately – I paid more for a less-renovated house!

It was simple arithmetic; I disliked what I saw at the “bigger” house. Buying this unit would have meant the need for a substantial budget to hack at the renovations, cart away the debris and make good the areas. The process would have been costly, time-consuming and required a lot of input on my end. In contrast, I liked what I saw in the second house and only minimal work was required – change the sanitary fittings and give the house a new coat of paint. It was a no brainer.

Lesson learnt: Invest in renovations because they work for you. The money spent does not necessarily enhance the value of a real estate.

- Au Foong Yee -