How To Buy Your First Home?

How To Buy Your First Home?

1)     How to buy your first home?

Buying a house is never an easy task. You can easily get overwhelmed with the process and information that you get.

So, how to buy a house with a stress free?

The truth is buying a house never an easy task even though to professional like us. Sometimes, because we knows more, things can be more complicated.

However, we can shares some easy tips to make your life easier. 

a)     Understand the reason why you are buying the property

You must set a goal on why you are buying this house. Everyone have different purpose in buying a property.

Here are a few reason why people buy a house:

•       Some people buying a house because they need bigger places for their children or parents.

•       For some, because children had got married and move out, no point to have a big house and when you have a big house it is difficult to maintain.

•       Just got married and would like to have own space for starting a family.

•       Looking for a house to invest.

It’s doesn’t matter what the reason are, you have to identify it and keep it in mind or write it down.

Because, when you shop around, you may find some pretty houses that may not up to your reason to buy in the first place.

For example, if in the first place the house you are looking for is 4 bedrooms and you have come about a beautiful house with 3 bedrooms. You are tempted to buy it. Basically, you are at a crossroad.

At this point, you have to keep your mind check and remember why you need 4 rooms in the first place. If you can live with 3 rooms then of course this house can be your option.

b)     List down the features and description of an ideal house

Before starting to look for a house, you must generally know what type of house you want. You must narrow down your search.

The factor that you should consider:

1)     Property Price

Before going for house shopping spree, you have to know how much you can borrow from the bank. From there, you can calculate how much is the ideal house price?

How to calculate?

The easier way is go to our contact form and fill up the information needed (only take 3 minutes).

After receiving your information, we will send our Super Awesome Eligibility Report For FREE to you. From the report, you will know your entitlement.

2)     Location

You must have an idea which location that you prefer. Because, if you do not have an idea for this, you can go haywire. Klang valley itself have thousands of property for sale each day. Your mind will freeze if you do not narrow down the search.

3)     Property type

Set the type of property you want, from condominium, apartment, double storey terrace house, single storey terrace house, semi-d, bungalow, townhouse or etc…

4)     Property Size

You must have an idea, how big and small the house you want. You do not want to view a house that not up to your preferences and waste so much time on it. Because, viewing a property can take lots of time. If you can make some cut upfront, you can save a lot of time.

5)     How many rooms and bathrooms in a house?

If you set your mind for 3 rooms and 2 bathrooms houses. Then, you should only view this type of houses. Do not waste time to view 2 rooms house.

6)     Land Tenure

Land tenure basically mean the land status whether it is under freehold, leasehold or under Malay reserve land.

While for some it is many not be important, but it’s did make a different in the future.

For freehold land, the process of handover normally will be faster than leasehold property. Because, for leasehold property you will need to get a consent from the state. This is only applicable for property with title deed issued. For some odd area, some freehold land need to apply for consent too.

However, if the property still under master title regardless of leasehold or freehold, the period of handover will be almost the same.

For Malay reserve land, if you are a non-bumi, you should avoid this property. Normally, it is difficult for a non-bumi to buy a Malay reserve land property. The process can be a roller coaster ride. So, avoid at all caused.

For bumi, you can carry on but please bear in mind not all the banks are able to provide financing for Malay reserve land properties. You may have limited choices.

In peninsular Malaysia, leasehold property generally have 99 years tenure.

After the tenure expired, you may have to pay premium to the state. Premium will be calculated based on the property market value. If you never like the idea of paying the premium later, maybe you should look for a freehold property.

Contact Us Today!

 

About the Author:

Hi everyone, I'm in this financial for a decade and we truly believe the recipe for still being here after 10 years is "sincerity" in helping others.People trust us and we will try our best to keep the trust. My vast knowledge in mortgage industry has been helping me to where I am today. This experience and “inside knowledge” means my client will have hassle free and quick process time.There are many reasons why you should choose to bring your enquiry to us. One of the reason is, we will provide you with an exceptional service and have your best interest at heart at all times.Contact us today, we can’t wait to talk to you guys