Tag Archives: Property

A short trip back to the UK

Am still in the U.K., on a coach to the airport. Already spent a week in the U.K. It’s time to fly back home. Reflecting on this rather sudden trip, it is such a mad decision. The story is as such. My flat in the U.K. was in a mess. To do with water leaks, and also the tenant did not take care of the flat and left it in a very bad state. If I were to let the “professionals” in to fix the flat and to redecorate it, it will be too expensive for us. For instance clearing bulky items like white goods and furniture and the mess in the backyard I was quoted £750! And then I’ll still have to replace most of the white goods, repaint the whole flat etc. Easily that would be another £1,500. And the issue is, that may not be all, because after all I have not seen it myself the state of my flat yet.

Hence I decided to fly there myself to restore the flat so it can be back on the rental market again. I estimated that I can do that within about a week, with some help from a friend, mainly to help remove the heavy items. And I could only afford to spend a week away in the U.K. anyway due to various commitments. But how wrong was I, having grossly underestimated the amount of work required in the flat! When I arrived at the flat, it was looking better than I envisaged. The mold was not as bad I thought, and the flat was fairly dry, presumably because the builder Tim who was tasked by the management to repair the ceiling had done us a favour having aired the flat quite extensively. Well he needed the flat to be quite dry to do some plastering anyway. But where the damage was to do with leaks from the gutter over the years, Tim received no instruction from the management to do a good job.

To be continued.

Buying our own house in Ipoh

Just placed a small deposit for a new house. Looks like we are finally getting on the proper ladder in Ipoh. Well, in about two years time actually because the house will only be ready by end of 2017 LOL. Considering how much property value has shot up in the recent 5-10 years, I thought we might never be able to buy anything decent in the short term, i.e. in areas we are interested in yet we can afford.

Shared swimming pool

We are quite pleased with the housing concept that we are buying into. It is like a town house concept, not so different from the house we have lived in in the UK. But these houses are more standalone, as residents don’t need to share the house, e.g. with one resident on the ground floor and another occupying the floors upstairs. And this has additional facilities like a swimming pool, shared amongst residents living in the gated and guarded area. The lot that we are buying shares a communal garden too, with residents between two rows of houses.

Communal garden

It is a good concept, as it can help forge community ties, which is increasingly lacking in modern society. Of course this is based on assumption that other residents are good going people, which I hope they are, as otherwise they wouldn’t be interested in such housing concept in the first place would they?

We are getting a corner lot so we’ll have some land on the side. Not sure what we are going to do with the space yet, but perhaps can grow some herbs and vegetables. We’ll definitely need to keep the grass in check. I do love a nice patch of grass in my garden. But I found that it is bloody difficult to keep the weeds out, especially when we have weeds growing wild in our neighbours’ house! Hopefully it is not the case at the new place.

Looking forward to the new house. Immediate concern now however is to get loan approval from banks to finance our house…’doh!

Entrance into Springfields Residence

More mortgage rate rise

Two years ago when we were considering which fixed-rate mortgage deal to go for, there was this “financial adviser” recommending us to take a 2-year deal, instead of a 5-year deal that we are interested in. He even showed us a prediction, from Royal Bank of Scotland I believe, on the trend of the interest rate, that it would be heading down. But of course we knew that he has some vested interest in trying to get us to go on the 2-year deal, as then we might be looking for him again in two years time for “advice” when the deal ends, rather than in five years time. Hence more commission for him, you see?It’s now just over two years into my mortgage. Looking at the news on the current mortgage rate, I’d say we’ll need to shell out 2% more per annum if we were to take out a mortgage now! And that hasn’t even included the higher mortgage arrangement fees borrowers need to pay, and the higher equity they need now to secure good rates!This so called “financial adviser” makes me laugh. I’m proud not to have listened to him, and my friend is certainly very pleased to have taken my advise rather than his. Perhaps I can call myself financial adviser too 🙂