Woman shares ordeal of buying under-construction unit in 2018, still incomplete and paying loan six years later
IN present reality, owning a piece of property is commonly seen as an indicator that one’s life is on track. However, rushing to become a property owner simply to achieve that milestone may prove to be more harmful than helpful.
One Malaysian woman shared a similar sentiment on Threads, recounting her disappointing experience after purchasing a unit of an under-construction housing project said to be located in Kuala Lumpur.
“Back then, I had a fear of missing out when people kept telling me, ‘Buy a house while you’re still young so things will be easier in the future,’” she wrote in her Threads post.
After hopping from one property showroom to another, the woman decided to purchase an under-construction unit in 2018, which she claimed was supposed to be completed by 2022.
Much to her dismay, the project has yet to be completed, allegedly leaving her to continue paying off her housing loan. Furthermore, she alleged in the comment section that the project was a government initiative under the Residensi Wilayah programme.
While the experience has left her deeply frustrated, she said that all she can do now is continue paying the remaining balance and wait to receive the keys to her home.
She went on to advise those in their 20s and 30s to think carefully before investing in property, reminding them that homeownership is a “long-term commitment”.
“When we are young and have fewer commitments, bankers are quick to offer all kinds of financial facilities. But when things go wrong, they disappear.
“When we see others buying houses, we feel compelled to do the same. Elders pressure us into purchasing property, and we simply comply.
“It is a long-term commitment. It hurts deeply when housing projects are abandoned. It’s not only about the financial impact — many other life decisions are tied to it. Even applying for our child’s school can become an issue later on,” she warned.
Her words resonated with many others, who shared that they were facing similar circumstances and reflected on how purchasing undeveloped housing projects had led them into financial hardship.
The woman’s story also sparked a wider discussion on the importance of choosing completed developments as a safer option, with many weighing the risks of investing hard-earned money in unconstructed housing projects.
“My husband bought a property in 2019, and until now, the house is still not completed. We’ve sent all kinds of letters to the ministry and even hired a lawyer. We’re paying monthly due to the LPPSA loan. It’s extremely stressful and mentally exhausting. The agent even blocked us,” another user alleged.
