Not just a house, but a home. A long-term stay consists of different factors that can really affect your happiness: location, area (acreage), view, floor, furniture, direction, amenities, and finally, the prices/finances.
Location
By speaking about location, there are two kinds of location I’m speaking about. If it’s a small urban city project (like Vinhome GrandPark in D9), it’s going to be a complex of different apartment buildings, each of which has a different design, advantages and disadvantages, and also different views, amenities, and price ranges. The second kind of location is where it’s in a larger map: where is it in a city map or a state map? Vinhome Grandpark complex, for example, is in D9, while Global City is in D2, for example. These are so varied, and it really makes the distance to different districts significantly different.
For the 2nd type of location: location in the city, I usually choose the location that is closest to my office, while I still need to make sure to balance out the distance to where I often meet people. For example, if you are young like me (under 30), then probably you want to get closer to the city centre where most people are dating and hanging around. But if you already have a family, then you have to calculate the distance of the desired schools of your kids and your partner’s (wife/husband) working location. We don’t want any member of the house having to travel too far, so it’s all about balance. And if you’re alone, then it’s pretty much all about finding a location that is having close proximity to the office. Which is exactly what I’m trying to find right now.
Now, I am thinking that D2 is perfect because it’s a well-balanced mix of life quality and good distance. It’s in the middle of both my office and the city downtown, which is perfect for me to be involved in city centre activities, building networks, while I can still go to the office and be productive & build my career path. But the price for one of the projects I was looking for, is the Prive in Global City complex, it’s like 100-150 million VND per square meter, which is huge. For my current situation, I will not be able to purchase one. Therefore, I’m looking toward a more affordable price range (around 60-70 million VND per square meter), which is Vinhome Grandpark in D9.
Price
For Price, I can only afford for 2br+1 apartment in D9 or a 1br+1 for a more luxurious/high-end apartment. This is now coming down to the area. But before coming to that, choosing the right price is important because it will decide what kind of products you are going to focus on. And buying a house is not just limited to getting ownership rights and the door’s key, but also you need to equip it with furniture and equipment/utilities (like internet services, parking lots, kitchenware, beds, cabinets, cleaning tools, sofa, TV, fridge, air conditioners, washing machine, dryer, and so on). That will be a large chunk of future investment, too, to allow you to have a livable home (convert from house to home)
Area
Now, if I zoom in on the Vinhome Grandpark complex, it’s not a complex of multiple projects. I was thinking of a 1br+1 apartment in Masteri Centre Point (MCP) or Lumire Boulevard (LBV), or a 2br+1 in Origami (Ori). The Ori project obviously offers more space, but LBV or MCP offers a more luxurious lifestyle. By luxurious, I mean: better amenities, furniture, interiors, and privacy. I prefer a larger area since it allows me to have more space to equip more items, like I can have a large, comfortable workspace for working at home, a recreation area, and even a home gym. But a luxury apartment also has its edges: it provides a gym and coworking space right in the building, greater privacy and security (more CCTV, security men/guards, no access from the public), and the interiors are like a lounge, lobby, and escalator are spacious and well-designed, good material, and so on.
View, Floor, Direction
View: inward (swimming pool and garden view), or outward (river view, skylines, parks). Each has its own flavor, but it really comes down to preferences. worst views are: looking directly at another building, or looking into a cramped neighborhood or street markets. For me, choosing the floor between 5-10 is preferred for view inward, and 10 and above prefer outward. Why? 5-10 floor inward means that I can sit from the living room or from my bed, overlook the swimming pool and green gardens without having to stand up or move too close to the windows or balcony. Meanwhile, for the 10th floor and above with outward view, I can see clouds, blue skies, and the beautiful Dong Nai river, or a colorful skyline at night (if looking toward the Saigon city). For direction, I mean direction toward East or West. Most people prefer looking at the sunrise rather than the sunset (because of the heat), but I think both are good. Sunset is also very beautiful at the right season, while Sunrise can provide more light to hit your house in the morning, bringing in more energy.
Amenities
It remains a location question. The Ori building is closest to most shop houses, coffee shops, and supermarkets, while BLV is a bit distant; you have to walk a kilometer to get to the (Vinhome) city center, while MCP is balancing both: it is close to Ori shophouses but also right in front of Vincom megamall. But of course, then the price is extremely high (like above 5 billion VND). Besides that, each project in the complex has its unique flavor too. For example, the Ori project has a Japanese garden, while the MCP and BLV have an outdoor Jacuzzi, an indoor gym, and yoga. MCP and BLV also provide a BBQ area too which other projects don’t have.
Prices, Finances
The reason why I put the most important factor last, that it’s a deciding factor; if you read this from the beginning, you’re likely not going to care about the rest. Because you know why? This is the only thing that decides what kind of product you are going to buy. For me, personally, I don’t think it’s the right time to buy the house right now. I have been asking myself this question: rent or buy, for years (like back in 2018, I was already thinking about this), and it’s now 7 years passed, and I still don’t think it’s the right time. Why? Because a house is not an asset, it’s literally a cash-burning machine. If I invest the money and get around 8-10% per year, then it outweighs the house financially. For me, the right trend is to accumulate assets, live modestly (or just “enough” with your demands), what is the point of living in a 50+ square meters alone? It’s definitely a waste of resources. We all know that the house’s price surged post-COVID (around 2023), but this doesn’t mean the house is a must-have asset. I believe in wealth building through saving and investing rather than buying land or a house. Just think of it, if you own a house, or a land (any real estate), what are you going to do with it, and does it bring any value to society? I can get a house after I get married because I want to provide a quality of life to my loved ones. But for me right now, a flexible living location is already enough. It’s not the best living style, but it’s modest and healthy still (both physically, mentally, and financially). I had rejected my parents’ offer of financial support before writing this post. I want them to keep the money so that later they can use it to invest in their healthcare and enjoy their old age.