Seven Tips for Finding Your Dream Property

Posted by on Dec 1, 2014 in Buying Property

Searching for properties can be an exciting experience, but with so many properties on the market it can also be an overwhelming process. It doesn’t have to be. Arm yourself with these seven tips for finding your dream property and you will find the right place for you. 7. Location, location, location! Location is the most important factor in real estate. Nearby improvements, such as a new shopping centre or widening of the road, can greatly affect the value of your property. Keep in mind that a property in a great location is much easier to sell later on. Search the best property location here. 6. Short term vs. Forever Home Do you plan to own this property for at least a few years, or longer? If you know you’ll only be in the area for a short time, renting might be a better option for you. Closing costs and a rapidly changing market might mean you’ll owe money on the sale, but if you stay put for a few years, you are more likely to come out ahead. 5. Commute Time Commute time is an important factor. While it might not seem like a big deal when you first move in, it can become a hassle over time. Ask yourself, will I be willing to drive this far a year from now or will I grow tired of it by next month. 4. Children If you have school-aged children, buying in a good school system will be an important factor for you. In addition, good school systems help increase property values. Likewise, if you plan to start a family in the future you will need ample room for your children to sleep and play. Consider that teenagers take up quite a bit more space than toddlers, and plan accordingly. 3. Price Don’t let your eyes get bigger than your wallet. Talk with a lending professional about how much you can realistically afford. It is recommended that you get pre-approved before you start looking for homes, that way you won’t exceed your housing budget. You’ll need to set aside some funds for taxes and basic upkeep as well. 2. Look Beyond the Wall Colour Sometimes it’s difficult to imagine yourself living in a space that someone else has decorated. Look beyond the wall colour and the drapes and try to imagine your belongings in that space. If that proves to be too difficult, there are apps on the market that allow you to take a picture of the offending wall and change the wall colour in your photo, making it easier to imagine your dream home. 1. Needs vs. Wants We’ve all done this at some point. It’s hard to ignore the bells and whistles sometimes, but ask yourself if you really need a three-car garage or an industrial kitchen. Keep a list of what you need, also called...

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Buying Property in Malaysia? Here Are Helpful Local Tips You Should Know

Posted by on Jul 1, 2014 in Buying Property

Buying Property in Malaysia? Here Are Helpful Local Tips You Should Know

Investing in property can be a wonderful experience; however, it all depends on how much research you conduct; especially when it comes to investing in property in Malaysia.   Tips and Guidelines when Buying in Malaysia There are some tips and guides that will help if you decide to buy property in Malaysia such as comparing and contrasting local competitor’s prices. This will give you a better idea on the value of property. It is important to check the average of prices between houses or property for sale in the location you’re interested in. Be sure that the information you gather is current. Finding a nice townhouse is an options some consider when buying in Malaysia.   Realtors and Real Estate Agents can make a Difference! Another tip that is important is to realize that real estate agents and realtors can be quite helpful with the buying process. Real estate agents and realtors have access to online information that will add to your research and in most cases, will give you an upper-hand toward success in finding good property in Malaysia.   Look Carefully at the Location Most importantly, evaluate the location you’re interested in as being suitable for development. Look for hospitals and schools that may be under construction. Find out if the roads have been paved or in the process of being reconstructed. If the location you’re interested in has good growth potential, then you may have found a good area for buying property.   Buying Near a School or University is a Plus! It is important to note that any location that is near a university or school; will bring success. Most families will consider buying or renting property if the property is near a school or university. So, be sure to keep this one important fact in mind. Other tips to keep in mind when buying property in Malaysia are determining what kind of house or property you want, the percentage of the first payment, obtaining a certification from an architect, finding out the interest on late payments, the Termination of the Sales and Purchase Agreement, Infrastructural Maintenance Fee and the maintenance and management fee. To conclude, buying a property in Malaysia can be a wonderful experience; however, with good research and knowledge about the area, you will make an effective and good choice in this area of the world....

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Tips To Buy KLCC Property As A Foreigner

Posted by on May 1, 2014 in Buying Property

Tips To Buy KLCC Property As A Foreigner

Kuala Lumpur represents an attractive option for both expatriates and foreign citizens who are looking to buy real estate. From a legal perspective, it’s a similar location to both Hong Kong or Singapore, but it is considerably more affordable than either. Malaysia is home to a diverse cultural base that will entice and lure anyone who has even a passing interest in Asian culture or Islamic history. This guide assumes that the reader already understands the process of purchasing real estate, and that they have the resources to operate in Malaysia. It will focus in particular on what separates Kuala Lumpur from other foreign real estate markets. The following is what you need to know as a foreigner looking to buy property in Kuala Lumpur. Be Aware of Restrictions Real estate restrictions are the first thing you’ll need to be aware of. The Malaysian government, seeking to “cool” the real estate market for foreigners, has instituted a number of different measures that are intended to discourage real estate speculation that might harm the welfare of their citizens. Consequently, it is impossible to purchase any real estate holding worth less than one million ringgits, or about $310,000. This means no small-scale speculation is possible. However, that price range will give an individual access to a well-located two-bedroom condo, if they are willing to walk or take a monorail into a metropolitan area. Other restrictions may apply to the way in which property may be bought. Malaysia has taken and is continuing to take more extreme cooling measures than most nations in Asia, so this is something that is subject to rapid change. New developments may be locked out of foreign involvement, or “historic” neighborhoods may be sectioned off that prevent foreign intrusion. You may need to make some compromises to find property that suits your needs if you are not a Malaysian citizen. Look for Freeholds It’s very important to look for property on a freehold basis, rather than a leasehold basis. In the West, it is assumed that any property you purchase will be held for life. This is not the case in Asia. Many properties are offered on a leasehold basis, in which you simply pay for a very long-term lease. You’ll want to look for freehold properties for investment purposes. It can be harder to offload leasehold properties later on. In some cases, it is possible to negotiate for a property offered on a leasehold basis to be available on a freehold basis, instead. However, you should never assume that the freehold title you would expect in the West will be the default you will encounter in Kuala Lumpur. Have a Business Partner If at all possible, have a business partner to purchase property through. Unless you are married to a Malaysian native, you will find that you face much higher taxes on all your various earnings...

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