Monday, April 20, 2009

Owning a resort apartment

I know sometimes I can be crazy when making decision of buying things.

I have always dreaming about having an asset that can be generate money i.e apartment, house or shop for rental. I have also always dreaming about having a vacation house, wheather by the beach or river. Few years back, I have come across a plan by A Famosa Resort which give me an opportunity to own a property and get some rental money out of it. I can also use it as my vacation house when I want to. I thought it was a great idea. I didn't buy because buying my own house is more a priority for me then. Later I found a resort apartment atPantai Morib, but I thought it was quite risky (Morib??)

Last week I went to Gambang for a site visit - apparently the project developer asked my office to help them in pushing Tenaga to provide supply for their project as soon as possible. It was a great project, something like A Famosa Resort. And I fall in love for the first time. Back at home, I couldn't stop thinking about it. I really really want an asset that can generate money and a vacation house!

Yesterday, when we went for a dinner at a shopping mall, I saw the developer opened a booth there! I tought it was my destiny - to own the property. I told hubby about it, and while eating, we discussed about it a bit.. and so, we decided to buy the property. Wonder where? Have a look here , and envy! I booked it immediately.

But today, when I searched through the internet, I found this. I wonder if I ever made a right decision... so, to pujuk myself... here's what I thought...
1. high risk, high return
2. pray for the resort to boom!
3. if the resort is not booming and I couldn't get paid monthly, I still have a vacation house, which is still great.
4. If it really cannot go and the management has to give up the property to me, I can still rent it to Kuantanians or turn it into homestay? So, I will still have an aset that can generate money.
5. I don't think buying an aset is a bad idea. The thing can only go bad if the project never completed or it was built at an area that nobody wants to live in and the area becomes horror city. But with a waterpark, how bad can it turn into? A Famosa and Bukit Merah are not successful either, but obviously they are not a fail project, aren't they?

No comments: