‘Ah Boy, you are now 28 years old already, don’t you think is a good time to invest in property?’ said every parent on earth.
Well, if you are around that age, of course, you have heard the above cliché, especially during the festive seasons. Asides from the Mahsing share price, the house is known as the most stable form of long-term investment which brings a luxury return in the future. Nevertheless, buying a house at the wrong time, wrong financial, and wrong place can turn this asset into a liability.
Therefore, before jumping into the hype of getting a house, one need to do in-depth research of the real estate market in Malaysia. Whether you are getting a house for personal usage, or, for investment purposes, both actions struck risk towards debt management. Besides, getting all this information today is not as hard as previous, since lots of properties advertised through various media. However, with these booming sweet offers from subscales, auctions or below market price property, new house buyers often get trap by the unforeseen hidden cost or scammers that promise the world.
Thus, here are the guidelines that constructed several pieces of advice from property Sifu’s when dealing with property developers and how to get on reliable new launch property in Malaysia.
1. Location Matter
If you are thing Malaysia can be the right place for you to buy Penang new property for investment purpose, the next question is which city is suitable to buy a property? Except for purchasing a new house in Kuala Lumpur, there are other cities which are Penang, Johor Bahru and Sabah that have potential growth of value. Visit our website for more info!
The population of Penang has approximately 1.5 million. There are much high-profile property developers that have already been earmarked the housing projects for this state. The houses for sale in Penang are aiming to attract foreign investment under the MM2H (Malaysia My Second House) program, mainly that high-end development on the seafront.
Other than buying houses, the factory for sale in Johor also consider as a strategic investment due to Johor neighbours, Singapore and is a combination of modern culture, island life, urban settings, and ancient biodiversity. Moreover, property for sale in Iskandar is a major Malaysian government initiative to appeal to foreign investment.
2. Type Of Property
You have to know what is the purpose to choose your kind of real estate. Generally, you may be looking for houses for sale if you are a first-timer. However, there are other commercial properties that could offer better earning potential in Malaysia.
It is not about which asset type is better for you to invest but is about what is your objective to buy a property. For example, a new condo in Kepong can be rent out to students to earn extra income, or you can live in it.
3. Leasehold Or Freehold
Generally, freehold is considered as better options if compared to leasehold. The renewal fee of leasehold titles can often be a costly affair. Click here to know more!
Of course, freehold titles of Johor Bahru property are more expensive than leasehold, but some people will think that it is worth to buy for investment.
4. Be Prepared To Get A Housing Loan
Property is expensive, and in most cases, you will perhaps require a loan to make a purchase. Your best bet would likely be a housing loan from a commercial bank, mortgage company and financial institution in Malaysia.
The different institution have their own rules and requirement to pass you loan application, therefore is better for you to do some research about what documents you should prepare and need to budget for a downpayment as well.