Usually, there are two reasons for buying a house; to live in or even as an investment. You should have a clear purpose and it is important because it determines the type of home you should buy. If you did not think clearly regarding the purposes of buying the house, how long you are going to live there then you might face some financial loss in the future. They bought for the wrong purpose and ended up having to resell shortly after the purchase. There are lots of hidden costs when buying a house. To buy a house, into account transaction costs such as legal fees, agency fees and others.
Location
If possible, choose your home that is close to your workplace. This will save petrol costs, tolls and even your time. For the husband, buy a house closer to the wife’s place of work. Prioritize your wife as it will ease up her daily routine. If she wants to cook dinner, she can come home a little bit early. If you are looking for a place in Bukit Jelutong, there are lot of available houses for you.
Look at the House Surrounding
Keep the house close to amenities such as police stations, restaurants and grocery stores. Also, consider the quality of the environment. It would be nice if there is greenery, a nice park and a school nearby. Avoid buying a house that is too close to factories or power stations. This happened at Pasir Gudang, Johor before where the surrounding housing facing haze due to the nearby factory. Search for a car parking spot as well.
Additional Cost of Strata Properties
Strata properties such as apartments and condominiums have additional costs such as maintenance and insurance fees. Some places also charge for community fees (Rukun Tetangga). These costs are necessary to maintain the common facilities as well as the building. You need to check these costs before buying any houses. There are places where maintenance fees can reach 50 cents per square foot. Once you’ve checked, include these costs in your monthly budget to avoid a financial crisis. Plan ahead.
Privacy
Are you someone that values your own privacy? Bungalows, semi -detached houses and low -density condominiums are good options if you need privacy. However, the price of low-density properties is more expensive. If you are okay with these issues, opt for an apartment or condominium instead.
Plan Your Future
Remember to plan your finances. Then, make plans with your partner regarding both of your expectations.
If buy as an investment:
The priority here is potential returns.You must prioritize the profit gain from this! Among other things you should check:
- Location
- Rental return
- Future potential for price increases and rents
- How long will it take for you to receive back the cash invested
- Annual return on investment
No Home is Perfect
Finally I want to emphasize, it is almost impossible to find the perfect home. Don’t get your expectations too high that you hope for the best house until you don’t even buy a house. It is okay to compromise on certain features or trade some choices but please make the best choice for the perfect house that you are seeking for.
