Seeking The Right Property Match

“Home is where the heart is,” proclaims television personality and Emcee Lynn Lim Pei Ying. Also an entrepreneur with her own Le Sucre Studio restaurant located in the mature township of Taman Tun Dr. Ismail in Kuala Lumpur, Lim managed to secure her first property in Taipei, Taiwan in 2002.

The opportunity to be independent and own a property has enabled Lim to learn many valuable lessons in life including accumulating tips in property investments which has shaped her into the fighter and survivor that she is today.

“Being a business entrepreneur, my ex-husband and I bought a duplex unit in Taipei where we did some minor renovations and I selected all the furniture. Initially, we used all of our savings to invest in this property. The space was quite small because land in Taipei is very expensive,” shares Lim.

Hence she adds, everything was done at their own pace to save time and money.

“Our over 700 sq ft duplex unit made our living space very compact. However, the unit came with a lovely view.”

In reflection, she says that buying the property was a good choice as one could hear birds chirping during the day which was pleasant to the ears and it was peaceful during the night-time.

After staying there for more than a year, they decided to sell off the house to finance her ex-husband’s further studies.

“At that time, properties in Taiwan were booming and we managed to get some profits from the above sales,” she adds.

Lim who considers herself a conservative investor prefers to buy property with the sole purpose of staying there with her two children aged five and nine.

Lim previously owned a three-storey corner lot house that was situated just next to a forest reserve in Cheras Batu 9, Kuala Lumpur. She says she made a good choice by buying the residence situated within a gated and guarded community there.

“When I first set my eyes upon the house, it was love at first sight even though it was a second-hand property. When I first entered the residence, it gave me a calming and soothing feeling. In fact, the family who lived there before were very warm and welcoming. From what I understand, my previous tenants were really happy staying there. That explains why I decided to buy the house,” she elaborates.

The house according to her also came with a luxurious garden and big rooms which was perfect for her growing children, give the ample space.

“The size of the master bedroom alone was 1,300 sq ft inclusive of the bathroom area,” relates Lim.

After one year, she decided to sell off the property as it was time-consuming to travel to her studio which is located in Taman Tun Dr. Ismail.

She is currently renting a lower ground unit there, having moved to the neighbourhood three months ago.

“I love the place where I am staying now even though it is not that big. To me, size does not matter because from the balcony viewpoint, there is a huge tree which provides good shade from the sunlight. There is also a lovely breeze in the evening,” says Lim adding that she might opt to invest in a unit there at the same block.

“For me, my style of doing things is not based on going beyond my abilities or my capabilities. I will only invest in a property if I have confidence in it,” Lim opines.

She adds that she may also explore the possibilities of investing in commercial lots if they are viable.

STRATEGY TO PROPERTY INVESTMENT

Lim says the first factor to consider is the location. This is the key reason why she moved to Taman Tun Dr. Ismail because of its easy accessibility to her restaurant.

This enables her to cut down on travelling time from one place to another and helps her to have more time for work matters and taking care of her children.

“That is the reason why I moved to Taman Tun Dr. Ismail and shifted their schools to the area. For me, I believe that properties located in Taman Tun Dr. Ismail which is also a commercial area can command good capital appreciation,” she elaborates.

The second important factor to consider would be the facilities and amenities available in the housing area.

“No one shares the same opinion when it comes to property selection. People with children normally prefer to look for whatever amenities are available such as swimming pool, tennis court, badminton court or bicycle paths.

“For me, safety is also a top priority. The residence has to be gated and guarded with many facilities and amenities. For instance, there should be an area where you can have a barbeque party,” she adds.

The second reason why she chose the property is because her children love the area.

TIPS FOR NEW PROPERTY INVESTORS

Lim says one should always plan ahead with regards to finding the right property to buy by taking into account one’s needs and financial situation.

“Invest in a property that you can hold on to which is located within close proximity to schools, hospitals and shopping malls. These added conveniences will help fetch good returns which will enable you to possibly shift out after five years or so, after selling off the unit with good profits,” adds Lim.

Although there are many nice properties around within good locations, ultimately, the right residence or property is up to one to decide according to a person’s needs and wants.

“It all boils down to your feelings and evaluation regarding the property. This doesn’t mean that should the location be good alone, this will suit your needs.

“However, if the unit is one’s first investment, one needs to check out five, ten or twenty properties before settling for the suitable unit to meet one’s requirements,” she says.

To her, if the feeling and lifestyle suits one, it will be one’s dream home and represent the perfect investment.

“Whenever the need arises, look for properties that come with a good location and which is priced within your budget.

“A good housing agent should also be able to provide necessary answers as well as assistance in identifying the right property that meets one’s needs. One can engage a valuer to provide a good evaluation of the property,” she sums.