Home Outdoor Extension Projects and Knowing Which Ones Are Worth Spending On

May 14, 2013 By

Nothing beats the comfort and feeling of spending a sunny summer or rainy spring afternoon than with some drink of choice, some music and a feel-good book lounging in some outdoor room area of your house. This is usually one of my favorite things to do while relaxing in the sun deck of my favorite KLCC condo. Just one of the perks I’m thankful for ever since I got here in sunny Malaysia. This is one scenario that will definitely make you say “ahh this is the life”.

But for homeowners are a little tight on the budget, or space, or even time for construction, which outdoor home extension should you have made in your house? What should you consider when starting on this project? Some quick ideas:

  • Patio – if you’re a little tight money-wise, and your outdoor space is not all that big anyway, then a patio may be the best choice for you. You don’t need so much as to invest on hardwood or roofing. You can opt for some outdoor patio umbrella (which can be really cheap from secondhand stores and thrift stores) or just totally ditch it altogether.
  • Deck – Decks are commonly one of the perks you may get if you invest in a luxury apartment. However, for houses, this outdoor extension needs a lot of money and a lot of space. Decks require an elevation off the ground, and are usually made of some expensive hardwood. You need quite a lot of space to get this going too. But done right, this is a very pretty addition to your home – one where you can lounge by yourself or with friends over cocktails.
  • Porch – this is low maintenance, inexpensive and does not need too much space either. This is also a very common addition to homes, needing nothing more than a few feet away from your main wall. You can also much easily attach the roofing to your main wall to save on additional expenses on building. Add some railings and you’re good to go. However, since it comes in a small space, you can’t do so much with it. You can add a rattan hammock and some cushions and romantic lights, then everything will look just awesome. Here are some great porch ideas from the DIY Network.
  • Sunroom – this is one of UK’s most popular home extensions. It is a closed room extension, usually with huge glass windows and sun roof. What makes it very ideal is the fact that it is roofed and so you can put even your most expensive piece of furniture in it without worrying about sun or rain, but still get your dose of the outdoors thanks to the big clear glass windows. But then again, with all this privileges also come the expense and need for space. There are contractors and ready-to-build kits but you may have to check on durability and again, pricing.
  • Balcony – if you don’t have all that much space on the ground, then maybe you can build a huge balcony on your second floor space. You might just have to double check on your foundations whether or not it can handle the additional weight of the extension.

Luxury apartments might have all these features and amenities, but not everyone is lucky to have them. Luckily, you can do some improvisation. Keep in mind that whatever type of extension you are putting in your house, they will always need their own furniture and its own costs for maintenance.

Filed Under: Home Living and Tips

Going Local by Investing on Local Property

May 8, 2013 By

Hello, fellow real estate fanatics.

The previous days had me thinking about investing locally here in Malaysia. It can be a condominium unit, or an apartment unit– I haven’t really made up my mind yet :( However,  I’ve learned a thing or two by doing some quick researching on Youtube– hey, everyone needs all the help they can get, right? Found this gem of a video by property bigwig and self-made millionaire Joe Weston of American Property Management, and I think it can be really helpful for those of you who’d want to start investing on apartments or condominiums. Here’s a link– http://www.youtube.com/watch?v=jh6w_Uu6snk.

The best part of my job is having to travel both locally and internationally, and lately I’ve been doing a lot of condominium and property hopping in an effort to find the best investment for my hard-earned money :D KLCC was my first destination, and this is not a surprise as many of you know that I’ve written an article about KLCC’s luxury condominiums– read it here.

After a lot of conversations and a lot of discussions with my colleagues and such, I’ve shortlisted my choices to OneKL and the Four Seasons Place. Seems like a great investment opportunity, but I’ve yet to ask other opinions first. Also, I need to talk to my lawyer LOL :D But yes, KLCC offers a lot of condominiums and they’re everywhere, and choosing one can really be difficult. I’d update you more on this on my next post.

Just passing by to give you a quick update– maybe you can give me a quick suggestion on which property to invest in the KL area? Email me! I’d love to hear from you :)

- Ben

 

 

Filed Under: Personal

Real Estate Tips for Retirees

April 26, 2013 By

Ahh, retirement. I can already picture out what I exactly want to do when I’m 65 and retired. I can start a garden, I can go on a cruise, I can do tai chi in the morning and “walk” around the park in my Segway in the afternoon. I seriously wouldn’t mind having to watch TV every weekend if it means I can have my own life all to myself after years and years of hard labor.

Retiree

My Retirement Thoughts..

Why all this retirement talk? For one, a colleague from Bonaire recently emailed me his mother’s retirement plans(in a nutshell). I realized that it’s okay to think about these things, too– of course, there will come a time that they have to be discussed for everyone’s benefit. Having been in Malaysia for too long, I’ve also thought about how things are done differently, culturewise, over there in sunny Florida. So when I retire, I would practically want to live in a smaller house, or maybe even in a retirement community. The city would be too much to handle for an old person, I think. Maybe it’s time to move out from 10 Mont Kiara when I hit 60? :-D It is a beautiful place but I think it’s too fast-paced for a 60-year old man. I would have no regular need to go partying and clubbing, so maybe a little further away from the city and into the cleaner, greener suburbs would be ideal. :-)

Retired

Two Cents

This is also the thought of many retirees these days – moving to a more suitable home, with a more pleasant neighborhood. Bangsar has a lot of nice houses that would make retirement sweeter, as well as in Klang Valley. But really, when you’re old, you wouldn’t have so much desire to go through the paper works involved in looking for a new property and securing a mortgage and looking for a house every weekend and practically the entire process. However, I wouldn’t do much complaining if I’ve made my billions by that time and invest on luxury apartments in the Kuala Lumpur area…

Okay, I digress. Anyway, here are some tips that retirees everywhere could use to help them get their dream real estate property at 65 or older:

  • Check for considerable weather all year round. You wouldn’t want to be living in a state or city that is so cold your arthritis would be sore 90% of the year. You wouldn’t want to live in a place so hot, either, that all your monthly retirement benefits go to your air conditioning and electric bill. Find a place where the weather is mostly pleasant and is fit to your liking and health conditions.
  • Look for towns with good public transport system. For days when you don’t feel like driving, or your vision restricts you to do so on a regular basis, living close to the bus stop where you don’t really need to walk a mile from where you live would be good.
  • Check for senior clubs and organizations as well as recreational and health facilities. You can’t just be sitting around in your senior years. Retirement is the chance to make up for all the time you spent sitting in the office but it is also the time when our bodies are making us pay for how badly we’ve used it in our younger years. Find a place that is close to these types of facilities.
  • Cost of living is a big factor. You are living off your pension that is fixed in amount. You have to live within that budget for the rest of your life so you should find a place where food and other basic commodities are fairly priced and within your monthly allowance.
  • Live in a smaller place. Less maintenance, less expense. That should always be your mantra.
  • Live close to family. The last thing you need is to have to fly off to another state whenever you’re feeling lonely. I’ve seen it in my grandparents: they’re more sentimental now more than ever and it helps that their kids live close by. Having family near will make sick days easier to bear too.

More updates, coming soon! For now– email me at bendover@bonaireislandrealestate.com. I would love to hear your thoughts on this.

 

Filed Under: Personal, Real Estate

Luxury Real Estate in Malaysia — A 2013 Outlook

April 10, 2013 By

I have been invited to speak at several real estate investment seminars here in the Klang Valley, and I have been asked frequently about the state of upmarket property investments in Malaysia. Well, I am no crystal ball gazer, but as far as I know, many real estate gurus here in Malaysia have been predicting a rather flat market for real estate in general.

I, however, think that there are opportunities for growth in the luxury real estate sector here in Malaysia. I have written about Malaysian luxury apartments previously in this blog I know, however, let me explain further.

The economy is improving, but as any seasoned real estate investors will tell you, the upper class remains isolated from the challenges that the middle and the lower market faces. As such, luxury condominiums in areas such as Sentul, Mont Kiara and KLCC are still being snapped up at a quick rate. Correspondingly, there are apartment units in the KLCC enclave which remain vacant and the prices are still not coming down. The reason for this is pretty simple… the owners of these luxury apartments (such as One KL, Marc Residences and Ampersand) do not depend on the rentals to pay the bank instalments for these luxury apartments. Truth.

High Rise

So, if you are hoping for the prices of the condominiums in the KLCC area to come down, then you will have to wait for a long, long time. In fact, I would argue that this is a good time to buy some of these units before prices go up. There’s only one “Kuala Lumpur City Centre”, you know…

Meanwhile, in some other luxury developments such as Mont Kiara, there is indeed a glut, and the rentals in some apartments have been coming down consistently. This is bucking the trend obviously, but then again Mont Kiara has got a rather different demographic than, say, KLCC.

Places like Lumina Kiara are still popular, and the exquisite Icon Residences has just been launched by Mah Sing – a highly reputable property developer here in Malaysia, helmed by really competent people. I remain bullish about Mont Kiara because of a couple of factors:

1. The location is strategic, and is just a stone’s throw away from the centre of Kuala Lumpur.
2. Nice, serene surroundings although the over development is now resulting in choking traffic during peak hours.
3. Self-contained community with good schools and other amenities.

Now if you want to move in and make an investment then this is a good time. I like OneKL KLCC, Mont Kiara and Bangsar. On the other hand, Sentul, Kajang and Puchong remain on my watch list.

I mildly suggest you reaching out to a good realtor in order to get the best deals on luxury apartments, and lucky for you, you can get more tips on how to do just that if you click here.

Filed Under: Real Estate

Malaysia Property Prices In 2013

January 28, 2013 By

OK, we came across this particularly enlightening piece of analysis from The Star newspaper today -

Malaysia Prices Seen To Moderate

We think that the Malaysia real estate market is indeed overheating, and it is high time for some price correction to take place. Prices for luxury apartments (say, in Mont Kiara, Bangsar and the famed KLCC enclave) have been flat in 2012, and there is high chance that a dip is in order when the correction finally comes – read this blog post. Unlike the real estate market in Bonaire (where we are projecting a modest growth of 2% in 2013), Malaysia’s property vertical is set to be flat this year. This might be good news for those who are shopping for bargains, and we have identified a few hot spots which are ripe for investments in this country – particularly Puchong, Petaling Jaya, Kajang and Cheras.

As always, we here at Bonaire Island Real Estate agency is always ready to help you make your property investment decisions. Get in touch with us and we’ll be able to advise you on your next move – particularly on capturing a piece of the pie in the blooming Malaysia real estate market. If you want to find the perfect realtor, then check out this guide.

Filed Under: Real Estate

Investing in Luxury Apartments – Some Practical Tips

January 9, 2013 By

OK… so after some long silence since our last blog post we are now back with a vengeance. :)

This is a follow-up blog post of sorts to the blog article on Bonaire luxury apartments, so go read it if you haven’t. The tips in this article do not relate only to Bonaire properties, of course… and if you have got an eye for luxury real estate then you’ll feel right at home here (pun intended!).

Apartment hunting, in general, can be very daunting. However, it can be even more daunting if you are looking to invest in luxury apartments. Aside from looking for effective ways to save money, there are various other things that you will need to watch out for when investing in luxury apartments. Here are some practical tips to help you out:

  • Compare Size vs. Price.

For starters, you need to know that an apartment’s price is always proportioned to its size. So, if you want to get a luxury apartment, you should expect to pay a high price for it. To get your money’s worth, try looking for a good-sized apartment, in which you can actually fit all of your belongings and still have an ample amount of space to entertain your guests at the same time.

  • Study the Location.

Luxury apartments should always meet premier standards, which means that they have to be in a good location within your city of choice. Some of the essential things to look for would be a nearby grocery store, hospital, gas station, workplace or school. At the very least, one or more of these things should be within walking distance.

  • Check Out the Utilities.

Another reason why luxury apartments are more expensive is because they come with special utilities and amenities. They should have good insulation, for example, which will protect you in case there are any sudden weather changes outside.

  • Check Out the Maintenance Staff.

A maintenance staff will always be useful in case you need to make some quick fixes in your apartment. Think about it. You wouldn’t want to have to go through the hassle of looking for somebody to fix the air-conditioning or shower for you when you need it, do you?

  • Analyze the Security.

Luxury apartments are partly expensive because they have good security systems in place, both inside the apartments and outside the apartments. As such, you should look at the emergency exits of each apartment and check where they keep any other emergency tools, such as fire extinguishers, before making your final decision. Security features in themselves can either make or break a person’s living experience in an apartment, so it would be best to find a place where you can live worry-free and comfortably, thanks to its reliable security systems.

Most people in today’s day and age choose to turn to the World Wide Web when searching for luxury apartments. If you like Marc Residence in KLCC, for example, then do quick Google search. However, this would only be a good solution if you are comparing different prices or are still scouting for potential locations to live in – remember that. In the end, it would still be best to look at the apartment in person before making your decision, though, so you can see whether it has any flaws to it before sealing the deal.

If you have completely set your mind into living in a luxury apartment, then the aforementioned tips should be a great help on your journey. This way, you can end up with the best choice for you and your personal needs. And if you need help in this area, then let me know – email me – mickey@bonaireislandrealestate.com for a speedy reply.

Filed Under: Real Estate

For Serious Investors Only – Luxury Apartments in Kuala Lumpur

January 6, 2013 By

Many of our clients call us to ask about investment opportunities outside Bonaire. We regularly scour the web in order to get the best real estate deals – local or abroad – for our clients. If you want to join our Bonaire Real Estate Insiders Club, please email us at insider@bonaireislandrealestate.com for consideration. We charge a nominal yearly fee, and your membership includes twice-a-year seminars held here in Bonaire.

Previously we have blogged about real estate resources online (read this if you haven’t) – and briefly touched about luxury condominiums in the KLCC area (Kuala Lumpur City Center for the uninitiated). Much of what we know is from http://klcccondominiums.com.my but if you are interested to know more please get in touch with us and we will send you a free report about KLCC investment opportunities – updated for 2013. Meanwhile, feast yourselves with these eye candy:-


UPDATE: One of our clients has flipped a KLCC property (Marc Residence), and while I am not sure whether he made money or not, he will be happy to share his experiences with the readers of this blog. If you have any specific questions for him, just leave us a message in the blog comment section below. We will publish the interview in full sometime next month or so.

Filed Under: Real Estate

How to Find the Perfect Realtor To Suit Your Needs

November 23, 2012 By

One of the biggest questions that I get from residents of Bonaire when it comes to real estate regards the need to get the “perfect” realtor or agent. Sadly, one doesn’t exist. Let me tell you why…

Since there are so many real estate agents out there nowadays, it can definitely be hard to narrow down all of your options. However, if you keep the following things in mind, you shouldn’t have any trouble learning how to find the perfect real estate agent for you:

Realtors are not agents.

The very first thing that you have to understand is that realtors and real estate agents are not the same thing at all. Although realtors are all real estate agents, real estate agents aren’t all realtors. For starters, agents tend to follow a code of ethics. Second of all, they need to meet certain experience and educational criteria before they can be called realtors. So, even though it isn’t actually a necessity to look for a realtor, hiring one would definitely help in assuring you that you have found a real professional to work with.

Referrals are gold mines.

Whether you are looking at hiring a relator or an agent, referrals would be very important when learning how to find the perfect real estate agent. After all, if there are people out there who have spoken about a good experience with an agent, then the chances of you having a good experience with that same agent would be pretty high. So, try asking your clients, relatives and friends for references in the housing market that you can get in touch with.

Open houses are gold mines, too.

Another great method on how to find the perfect real estate agent would be to attend as many open houses as possible. After all, this is where you will be able to see agents in action. Watch how the agents show their houses and check whether they pass out promotional materials or point out the houses’ special features.

Neighborhood signs can be helpful.

Neighborhood signs that can be found on houses for sale can be a good indication of how effective an agent is, too. So, pay close heed to signs that go up and then time how long it takes for the houses to sell. Agents who can sell houses faster are usually the best ones to approach when it comes to this. We once was pushing for a sale of a prime piece of real estate in Malaysia – Kuala Lumpur City Centre (KLCC) in particular. The development, Dua Residency, is really fancy, and we noticed a nearby neighborhood sign which gave us enough information on who to call and how much to sell it for.

Advertisements can be helpful, too.

Another great method on how to find the perfect real estate agent would be to look through housing advertisements. It would be safe to assume that the agents who have a lot of listings in your neighborhood are the ones who specialize in that particular area. This means that they would be the best agents to run to for your needs since they will be able to provide you with insights on how to sell your home as quickly as possible.

Of course, you can also turn to the World Wide Web while learning how to find the perfect real estate agent for you. By going through the online websites of the agents that you have been eyeing, you can learn much more about their personal style in selling and decide whether they would be able to fulfill your needs in the end or not. Also, read this website’s blog in order to learn more. I am also a fan of Zoopla’s blog – FYI Zoopla is one of the best property portals in the UK. If you are in Malaysia, check out PropertyForSale.com.my or iProperty.

Do you have more questions on real estate in particular? If so, leave me a blog comment below.

Filed Under: Real Estate

Real Estate Investment In Bonaire – What You Need To Know

August 19, 2012 By

In this short article, I am going to share with you some tips and techniques that I have learned over the years while being a part-time realtor in Bonaire. Property and real estate has always piqued my interest although I was never schooled in this vertical (I studied psychology at the famous University of East Anglia in England back in 1969). Unfortunately my degree (although I scored a high second class lower honours and ranked #163 out of 200 students in my class) was not useful in my pursuit for a career in real estate. But as they say, you live and learn…

If you want to be good at property investment, then be prepared to invest 10,000 hours of your life in perfecting this art form (well, according to Malcolm Gladwell anyway). I read lots of books, studied under real estate master agents, and scoured for property for sale ads in newspapers on a daily basis. I borrowed money from my friends and family in Bonaire in order to make my first investment (a factory lot here in Bonaire), and I managed to bankrupt myself within six months. Not a glittering start I must say…

I recovered back from my disastrous start after I hit the lottery (I will tell you that story another time). I used the money to set up a small real estate agency here in Bonaire, and I recruited my best friends Jim, Jamie and Andrew to be my first brokers. If you are a budding entrepreneur – my advice for you is to partner up with your friends. Why spend most of your waking hours facing people that you don’t like?

So what happens is that I used a large portion of my lottery winnings to buy a couple of shop lots here in Bonaire which turned out to be real winners. I made a total of $129,992.93 after about seven years of continued appreciation. Not bad…

If you want to get started in property and real estate investment, then follow these tips below. I won’t guarantee you success, but if I can make it so can anybody. Continue reading…

Real Estate Investment Lessons I Learned As An Investor

  • Always read as many books as you can when it comes to property and real estate investment. Don’t be ignorant! You can possibly make very expensive mistakes. Robert Kiyosaki is a good authority on real estate. His books continue to change lives. Always listen to the gurus, and you will never go wrong!
  • Don’t take unnecessary risks. Follow what your gut says. I like commercial properties because I once (literally) dreamed of owning an entire office block. If you like residential real estate then start looking for houses for sale NEAR your place. Local knowledge is a competitive advantage when it comes to real estate investment. Likewise, don’t invest in a place which you are not familiar with, like far flung Malaysia for example!
  • Don’t borrow money from your family and friends to invest in real estate. I made the mistake of borrowing $10,000 from my grand aunt for my first piece of real estate. She has since disowned me. My girlfriend also left me after she hooked up with another real estate broker who was more successful than I was. I became heart-broken, and decided to learn as much as possible about love and relationships. I am still clueless as they come, but if you are an expert at getting a girl to like you then please, please email me. I am getting real desperate.
Filed Under: Real Estate

Blog

August 19, 2012 By

Welcome to our blog.

There are some important updates as far as the agency is concerned. We have been embarking on some expansion plans which could see that we establish presence in the region, out of Malaysia. But still, Malaysia is going to be a key market for us since this is where we got started outside of Bonaire Island.

Now there is significant cooling of the market as far as the real estate vertical is concerned here in Malaysia. Upmarket developments such as the Kuala Lumpur City Centre (fondly known as the KLCC) – home of the iconic Petronas Twin Towers – have seen prices to stall both in terms of rental and subsale. Other areas such as Mont Kiara have also seen stalling prices, and this might be a cyclical thing. As with any property market in the world, it’s always a question of supply and demand. There could be a property glut in the Klang Valley, and specifically places like Mont Kiara.

Moving out of Bonaire Island can be challenging, but it’s important for us to expand our reach to other places, and in this respect Malaysia seems to be a good choice for us to diversify our property portfolio. Now there are many considerations that need to be taken into account because we are not locals, and therefore there could be blind spots as far as the Malaysian property market is concerned. For example, KLCC condominiums command a premium in the Malaysia real estate market, and we need to know what drives this. There seems to be a property glut in that area as well, and it could be important for us to completely understand the local real estate market.

Cooling Down of the Consumer Real Estate Market

Also, the consumer market seems to be cooling down as well with supply far outstripping demand in many areas: particularly Bangsar, which is a predominantly upmarket area. The Malaysia property scene is rather fragmented with the industry being rather opaque to the outsider. I guess this is a common feature of the property sector anywhere in this world.

Since online property portals such as Yahoo Real Estate and Trulia is taking over the real estate classifieds market here in the US, we were wondering if it’s the same thing going on in Malaysia. Our hunches were correct – there are a couple of property portals which are currently consolidating the online property classifieds vertical in Malaysia. These sites are like i-Property (the biggest online property portal in Malaysia by far), Home Guru and also Property Wall. There are a couple of smaller players such as MetroSherpa (http://www.metrosherpa.com/ ) which seem to be focused on specific areas or pricing tiers (luxury market, mid-tier, etc).

It’s going to be a challenge for sure, but Malaysia property scene remains interesting, and will remain a fixture on our real estate investment radar. It’s gonna be awesome, so stay put to receive updates from us!

Filed Under: Real Estate