Truly A Class Above, Truly A Home!

Truly A Class Above, Truly A Home!

Friday, June 17, 2011

The Good, The Bad & The Ugly - Final Part (Value)

Value:

Often when we talk about the value of an item, the first thing that comes to mind is $$$. And it is because of $$$ that we often overlook the real values that lie within. Much like being mesmerised by a pretty or handsome face while overlooking the beauty or darkness that lies beneath that face.

$$$ - Anyway, I shall first begin by talking about the value in terms of $$$. The item in discussion is none other than Genting Tiara, more specifically the bungalow lands. Over the last 2 years, property prices have risen tremendously especially the properties in Klang Valley, namely those located in Kuala Lumpur and Selangor. I shall attempt to illustrate a comparison with the current property situation in Klang Valley the way I see it, therefore all views are expressed in my own honest opinion and any misinterpretation or misrepresentation is truly unintentional.

For easier illustration and understanding, Kuala Lumpur shall be the centre point (assuming KL being place of work) with Genting Tiara on one end and Klang on the other since the latter two locations are roughly of the same distance and travel time from Kuala Lumpur. We shall not take into account the really, really super expensive properties in truly, truly ultra high end locations which are frankly out of reach of the average successful mortal.

Genting Tiara Kuala Lumpur Klang

Average per square foot cost
of freehold land (RM) 65 250 100

Cost of 10,000 sq. ft. land (RM) 650,000 2,500,000 1,000,000

Cost of building a bungalow
with 5,000 sq. ft. built -up
area @ RM200/sq. ft. 1,000,000 1,000,000 1,000,000

Total cost of land & bungalow 1,650,000 3,500,000 2,000,000

Average cost of a semi-detached Not applicable 1,800,000 1,000,000
unit with a mere 40 ft. x 80 ft.
(3,200 sq. ft.) land size

Note: Pardon my above alignment. Must be my limited knowledge on how to work them.

The above clearly illustrates the obvious savings from owning a bungalow in Genting Tiara. The $$$ savings are in the hundreds of thousands if not millions. These savings will most certainly come in handy as money for furniture and renovations. As the average land size in Genting Tiara is 10,000 sq. ft., we can also see that every RM1 increase in its land cost in future equates to a total increase of RM10,000, but bear in mind that land prices don't usually change by the Ringgit, it's more common by RM5 or RM10. That would mean very significant increases of RM50,000 - RM100,000.

From the illustrations, one no longer needs to dream but can actually begin realising the dream of owning a big bungalow with a big piece of land for under RM1.7 million and it's all only a 30-minute drive to KL city centre practically on one long stretch of road alone. Heck, it's even cheaper than today's semi-detached units in town and definitely more value for money than today's new launches of a tiny plot of land in Klang Valley with a so-called bungalow on it and having neighbouring units like only 20 feet apart where your neighbour may look into your window with their naked eyes and clearly read the title of the book that you hold in your hand.

Apart from the above, there is also another form of savings from Genting Tiara - savings on cost of electricity. As we all know, air-conditioners consume large amounts of electricity, therefore make up a large portion of our monthly electricity bills. Nightly use of 4 to 6 air-conditioning units for 8 hours alone can easily chalk up a monthly electricity bill of RM250 to RM350.

Sitting at 2,000 ft above sea level, the night temperature in Genting Tiara is already comparable to that of an air-conditioning unit i.e at a comfortable 22 - 24 degrees Celsius. Add to the fact that the surrounding grounds in Genting Tiara are mainly trees, greeneries and soil, the sun's heat is easily absorbed and dissipated as opposed to the unbearable heat coming from the sun-baked grounds of common 'concrete jungles' of the cities. All these equate to much cooler homes at Genting Tiara throughout the day, throughout the year and best of all, they are mother nature's gift to us at no monetary expense.


Recently, I found out that we can actually install BIPV (Building Integrated Photovoltaic) systems - simply put, solar power generation systems built onto our homes, more specifically roofs, car porch, pergola or other open spaces, AND actually use the generated power (exported to the power grid) to contra with our power consumption (imported from the power grid) from Tenaga Nasional Berhad (TNB). Currently, there is no monetary gain when we have a net supply of power i.e even when solar power generation is equal to or more than actual consumption, our bills are at best, zerorised but that in itself is already a great savings on our power bills.


The beauty is when the country's Renewable Energy Act comes into effect (expecting in Q3 2011, fingers crossed) where the FIT (Feed-In Tariff) mechanism is up and running. Under this Act, the net surplus power generated is sold to TNB at a set price i.e consumers are paid money for net sales of power back to TNB. Each contract will run for 21 years (it is estimated that the efficient lifespan of BIPV systems are around 20 years, so it would be worthwhile to install a new system thereafter before entering into a fresh contract with TNB). Given that the breakeven for the installation of a BIPV system is around 8 years, that equates to a healthy net profit for the next 13 years. That, to me, is quite an interesting deal, not to mention environmentally friendly as well.

The other beauty is the cost of BIPV systems. These systems are continuously undergoing technological improvements and are enjoying good economies of scale i.e drop in costing. Today, BIPV systems can be installed for as low as RM15K/kWp. But realistically, a 4kWp system is the more likely option to match the average tropical house with electricity churning air-conditioning units. It is here that I would like to point out yet again the value of Genting Tiara. With practically no necessity for air-conditioning units, a bungalow in Genting Tiara can see significant $$$ savings with just the installation of a 1kWp BIPV system. That is a clear savings of no less than RM45K for system installation and significant reduction in monthly electricity bills, maybe to the point of nil. If one wishes to take advantage of the FIT mechanism i.e to make extra $$$, then the cheaper land price of Genting Tiara is the perfect option since land area is the main factor in enabling the installation of a higher capacity BIPV system.

Environmental - I do not wish to overemphasise the simple logic and obvious advantage on the environmental values of Genting Tiara. So, I would just offer this simply comparison:-

Location A: Cheaper yet fresher and cleaner air yet naturally cooler yet not too cold till everything is damp and moldy and layers of blanket and heater (more electricity cost) are needed during night time.

Location B: Far more expensive yet very polluted air yet naturally much hotter till air-conditioning unit is needed during both day and night time.

Question 1: Which of the above two locations offers the preferred choice of living?

Question 2: Which of the above two locations will enable both young and old to spend more time outdoors?

Question 2: Which of the above two locations best describes Genting Tiara?

BINGO!


Realise how we look up into the city's night sky only to find the stars being blanketed by the light pollution of the city's buildings, roads and vehicles? Well, fancy the moon being your only light in the sky with minimal light pollution? Look no further . . .



Family - The affordability of owning a bungalow in Genting Tiara may be translated to mean shorter time span required to own such a property. Here, I am implying on the following:-

Time spent on making money VS Quality Time spent with family

The value of quality family time. Hmm, seem to be a scarcity nowadays. We need only observe or ask our children to get to the truth of things. Is coming home everyday quality time with family? Is having a meal together quality time with family? Is sleeping in the same bed quality time with family?

Well, the average person needs to come home, eat and sleep. That is a near certainty for the average family today. However, what are we coming home to? A good, quiet and undisturbed nap? The next episode of a TV series? CNN? Sports Channel? Food done and ready to serve? Children ever ready to hear how difficult and tiring their parents have been working on yet another day and how they should appreciate that alone, or ever ready to be lectured or punished for not performing well enough in school after all our hard earned money spent on their tuition fees?

Were we greeted with hugs from our children the moment we came back home and entered the house telling us how much they missed us and wants to play with us? Were we laughing at the silliest of jokes or discussing/debating events of the day over dinner? Did we hug and kiss our spouse good night before going to bed? Often times, the excuses given are that one does not have the mood nor the energy nor the patience nor the time left for the family. Simply put - "Mommy and Daddy has to work hard and often long hours so that you children can one day stay in a dream house". Well, in a way, that is the reality for many average decent family today who strive to achieve and upgrade to the condominium (RM500K), the 2-storey link house (RM800K), the 2-storey corner lot (RM1.2M), the 2 1/2 storey Semi-D (RM1.5M) and ultimately the 3 or 4-storey bungalow (RM2.5M). Time is being spent making money, thus obviously leaving no more time for family.

Family bonding with children starts from when the children are born till maybe 12 - 15 years old. Miss that opportunity and one may be passing the point of no return. By then, the children may be having a stronger bond with their friends instead of with their parents. That is when problems arise and parents have a hard time wondering why their children are rebelling while the children feel that their parents have never understood or cared for them at all.

But, wait! What would the average parents (estimated age: 35 - 40 yrs) be doing during these golden 12 - 15 years of the child? All would likely be working to own their dream homes. The normal ones would be happy to own a condominium, the more successful ones would be happy with an intermediate 2-storey link house, and the even more successful ones would have got their 2-storey corner lots or 2-storey Semi-Ds. The fact is, many would not be able to have enough time nor outsmart a couple of economic cycles to even be close to owning a bungalow.

Since we are, after all talking about Genting Tiara bungalows here, let's concentrate on the more successful ones with their corner lots or Semi-Ds. As stated above, prices for corner lots in a respectable area are in the range of > RM1 million while Semi-Ds in the range of > RM1.5 million. Compared to a typical bungalow in Genting Tiara as illustrated above, we end up with a Semi-D with barely 1/3 of the land size and 1/2 of the built-up area. If we downsize the built-up of the bungalow to a reasonable 3,000 sq. ft. on 10,000 sq. ft. of land to bring the total cost down to the price range of a 2-storey corner lot, we end up with a corner lot which is somewhat of similar built-up but still probably 1/2 the land size.

The above paragraph may seem a bit confusing. In short, what I am trying to say is that parents may only have a couple of golden years left for their children and instead of chasing the ever expensive dream bungalow in Klang Valley, they can actually own a bungalow very much earlier and appreciate it together with their children. The bond in the final golden years of the children may pave the way for a better parent-child relationship for many more years to come. It also means less stress for the parents in terms of work and financial commitment.

Residential building structure is called a HOUSE;

HOUSE + FAMILY may be called a HOME; but only

HOME + LOVE & CARE will earn the right to be called a 'HOME SWEET HOME'.

If the desired HOUSE is a bungalow, then based on the above, the earlier we get the HOUSE, the sooner we have our 'Home Sweet Home'. Time is of the essence.

Thursday, June 9, 2011

The Good, The Bad & The Ugly - Final Part (Amenities)

Amenities:

Food - Ok, car breaks down, car is not around. No problem. Just walk right out of Genting Tiara's guardhouse and you will be greeted by numerous fruit and roasted chestnut sellers displaying their daily fresh produce, and right opposite the stalls lies a long stretch of eateries offering a variety of local delicacies. Best of all, the ever convenient and ever popular McDonald's is also located right beside. For some snacks, tit-bits, ice-cream, beverages etc. ala convenience store offerings, just step right into the Petronas petrol station in front of the eateries.


A short drive in any direction to nearby villages and towns eg. Bukit Tinggi, Bentong and Janda Baik will lead one to even more restaurants offering deliciously prepared dishes at very reasonable prices. Most popular of all, of course, would be Gohtong Jaya town, located midway to Resorts World Genting and requiring only a mere 10 minutes drive from Genting Tiara. Due to it's strategic positioning, Gohtong Jaya has become a must-stop point for any visitor travelling to or from Resorts World Genting to grab a sumptuous lunch or dinner at one of it's many restaurants. One must try the variety of fresh fish cooked in different styles and very yummy, nevertheless.

For everything else, just head to Resorts World Genting which houses countless restaurants and cafes, among them franchises like KFC, McDonald's, Burger King, Starbucks and many, many more to spoil your choice.

For those who enjoy cooking their own food, what better place to grab your groceries than from the nearby towns which also happens to be farming towns filled with the freshest of produce one can find. Malaysia's famous Bentong ginger, anyone?

All said, when it comes to food, moderation is the order of the day - Eat Healthy, Stay Healthy!

Fuel - As mentioned, there is the Petronas petrol station practically just right outside Genting Tiara ever ready to provide the much needed fuel that our vehicles require, thus ensuring everyone uninterrupted travel in their vehicles.


Education - Schools are aplenty around Genting Highlands, with the more popular ones being the secondary school, Sekolah Menengah Swasta Saleha (S.M.S. Saleha) together with their own international school, Highlands International Boarding School (HIBS) located between Genting Tiara and Gohtong Jaya and finally a college in Gohtong Jaya, the Genting Inti International College (GIIC).

With such options of higher learning readily available, those who may want to treat Genting Tiara as more than a resort home can rest assured that their children's academic achievements will not in any way be compromised.

Security - This is one important section that I would like to share with everyone since security of a home is a top priority for any homeowner. The strategic location of Genting Tiara is such that there is only one point of entry/exit, which is through the guardhouse via access card, thus making the security guard's job much easier but more efficient.

The perimeter of Genting Tiara is actually protected not by man-made fencing but by mother nature in the form of the rainforest. The vicinity is almost entirely shielded by trees which not only offer a natural wall of protection but also provide the sounds of birds and insects which calm our body and soothe our mind, and more importantly ensuring a constant release of the freshest air into the vicinity (photosynthesis, mother nature's gift to us).


The highway operations office which is located just outside the front of Genting Tiara's guardhouse also houses the highway police patrol units. This is an added advantage which will make potential perpetrators think twice about infiltrating Genting Tiara. Best of all, this feature is FOC : )

Sports - For the health conscious who love to jog and cycle, the high and low gradients of the residential roads inside Genting Tiara with its extremely low traffic volume and the cool and fresh surrounding atmosphere offers the best conditions to enjoy the two said exercises. To me, this beats jogging in the evening in any Klang Valley township under the hot sun and in polluted exhaust from motor vehicles or cycling beside vehicles driven by careless and irresponsible drivers.


Moreover, there is also the Gohtong Jaya Sports Centre located in the centre of Gohtong Jaya town. As far as I can remember, there is at least a heated swimming pool, tennis courts, table-tennis tables, pool tables and video game machines for the entire family to enjoy at very minimal fees. All this in just a 10-minutes drive away.

Golfers can enjoy a cool round of golf in Awana Genting Highlands Golf & Country Resort or Bukit Tinggi Golf & Country Club, both within 15-minutes driving distance.

Entertainment - Where else but the City of Entertainment - Resorts World Genting. I shall very quickly summarise this section. Apart from gambling in the casino and having fun in the outdoor and indoor theme parks, one can virtually shop, eat, drink, watch movies, sing karaoke, play bowling and the list goes on. Just have to make sure you bring sufficient $$$.

Those who seek a less 'taxing' experience may want to visit Colmar Tropicale (a replica medieval French village) and the Japanese Garden, both in Berjaya Hills Resort, Bukit Tinggi.

There, done!