Eintan Nurfuzie | Lifestyle, Beauty, Travel, Tips & Rawatan Kucing & Review: Hartanah

Showing posts with label Hartanah. Show all posts
Showing posts with label Hartanah. Show all posts

Factors to consider when buying a high-rise property

Factors to consider when buying a high-rise property | High-rise buildings as residential properties has becoming popular these days in the city. With dramatic architecture, stunning views, work proximity, resort-style amenities and customised social activities, these are the few traits that attract homeowners to beautiful high-rise buildings. But when it comes to selling or renting out your property unit from the high-rise buildings, your potential buyer or renter won’t be able to see your notice like ‘rumah untuk dijual’(house for sale) or house for rent. Here are some of the factors to consider before making the decision.

Factors to consider when buying a high-rise property

1. Location, location, location

The classical popular quote in real estate. When you are looking for property to purchase for investment or own stay, look for properties in the thriving and upcoming areas or towns that may develop in future. Government or developers may want to convert what used to be high-crime area can be revived into prosperous area - you may never know.

Explore the local amenities and facilities nearby that will cater your needs or majorities’ needs. What is the acceptable travel distance for you to get your daily necessity? Do you feel secured with the surrounding area? Is the traffic condition between your house to work place time consuming?

Within the high-rise building itself, location should be a consideration. If you have the elderly or kids living with you, units in lower floors might be more suitable due to the fact that you are not required to solely on the elevator for access - especially if the elevators are constantly faulty. If you enjoy greeting your day with a beautiful view of the city, higher units could be your choice but the price will be much higher.

2. Land status

This is important because the land status can be either a residential or commercial. This will affect your payment especially when it comes to assessment rate and utility bills, it will be charged at commercial rate, higher than the residential status. Our advice - to check on the land status of the high-rise property if you are intending to purchase a unit.

3. Parking

The parking facilities is something you will need to consider as well. Majority of the high-rise residential buildings offer only one or two dedicated parking spots. Meanwhile, most commercial high-rise buildings like SOHO, SOFO, and other versions of small offices that do not come with parking bays at all. Unfortunately, if you own multiple sets of cars, you can either choose to rent or buy additional units. Check with the building management on the charges of the additional reserved parking.

Few details to check on the parking details such as the parking garage security, the distance of the car park lot to the elevator, the limitations relative to the height or length of your vehicle and others.

4. Facilities

Apart from location, amenities tend to be a huge consideration for buyers’ interest in high-rise buildings. Almost every condominium units come equipped with the facilities such as swimming pool, gym or community hall. If you are buying sub-sale properties, it will be prudent to check the condition of the facilities. Better make sure your maintenance fees are worthy for your facilities’ utilization.

5. Insurance coverage

The type of insurance and rates will vary according to different types of building. The building is usually insured by the management but it does not cover insurance for home contents. Ask what would happen if your neighbour caught a fire and it impacted your unit or your bathroom is flooded and repairs had to be carried out. Do check with management and your insurer on the coverage so when it happens, you make sure you are wellcovered.

6. View

The view from your condominium unit could add on to your property value, good for your investment. Do you know a good view can affect the value with a difference of few thousand Ringgit? Who doesn’t want to wake up every morning with a good view? Higher floors usually have stunning views compared to lower units. If you are considering this to be very important factor, it should play a major role in your decision. Plus, you will have better lighting and air ventilation on the higher floor.

However, when getting to higher floors, make sure your windows are made of high quality materials especially the frame. It has to be durable to sustain the wind load during extreme conditions.

7. Security

While you are looking out for property, safety and secured environment should be considered for yourself and your family. Observe and ask around if the apartment is well-guarded, the number of guards patrolling the premise and the level of security access. If there are frequent robbery and snatch cases around the vicinity or break-ins the apartment or condominium, do consider to look somewhere else.

8. Density

Overcrowded can happen if the development has higher dense and you will face overcrowding experiences like lift waits, tiny car parks and traffic congestion, your stay will be unpleasant for long term. You will be frustrated with these menial details. However, exclusivity comes with a cost, a higher cost. High density properties can also produce noise pollution and insufficient parking bays. Find out how many units are built for the whole development and also on each floor. Plus, the number of lifts available for each building also can make big difference.


Brace yourself when you are buying your first home

Brace yourself when you are buying your first home | It is time for you to step into adulthood. To start planning for your future and to start a family of your own soon. You start looking for property in Singapore or in Malaysia, depending on where you are stationed in. However, you are swarmed with the negative comments by people around you telling you various horror stories that you can ever imagine, e.g.: the debts that you got yourself into after getting your first property in Singapore, the tedious process of getting a property in Singapore and the commitments you get yourself into when you start buying a property in Singapore. Fret not, this article will share with you the common psychological effects of having your first own home in Singapore and that you should be bold and brave to take a step out of your comfort zone. Brace yourself when you are buying your first property in Singapore.

Brace yourself when you are buying your first home
Brace yourself when you are buying your first home

Brace yourself when you are buying your first home

The horror of getting into a debt with the bank for at least 2 decades of your life frightens you. You do not want to pay for mortgage loan half of your life. You worry about not having enough money for yourself after paying for mortgage loan for your first property in Singapore. However, you need to remind yourself that all these are just psychological effects of the thought of getting your first property in Singapore. To prepare yourself psychologically to get your first property in Singapore, there are a few psychological effects that you should brace yourself through. 

First and foremost, the first reaction that comes to you when a suggestion of getting your first property in Singapore hits you. You start refusing to acknowledge the debt that you will get yourself into after getting your first property in Singapore. You choose to live in denial. This seems normal to most people as it is a huge sum to deal with after all. However, do remember that you are allowed to use your CPF to make monthly payment for your property in Singapore and this might ease your anxiety and help lessen your burden. In addition, most down payment for your property in Singapore will be covered when you use your CPF to may payment. 

Not willing to have your CPF deducted to make monthly payment for your property in Singapore? Fret not. You can opt for HDB loan if you are purchasing an HDB flat. The benefit of having an HDB loan allows it to cover up to 90% of the HDB flat price. The remaining 10% will then come from your CPF. 10% of the remaining HDB flat price coming from your CPF definitely sounds much better than having to pay monthly for your HDB by using your CPF. Another thing to ease your mind is that there is a Home Protection Scheme (HPS) for your HDB flat. In case of any uneventful situations that you are dead, critically ill or disabled, the Home Protection Scheme (HPS) will cover the share of your mortgage loan up to the amount assured. As for private properties, the Mortgage Reducing Term Assurance (MRTA) does the same by covering the share of your mortgage loan that you assured. Bear in mind that these two schemes, however, do not apply to situations say, you are fired from your company. Hence, it is still advisable to have a saving plan in case of emergencies, preferably an amount that is enough to cover your mortgage loan for at least 6 months.

Next, after getting your first property in Singapore and getting yourself tied up with mortgage loan, you then decide that you no longer have the ability to make savings or to make other investments. You are left with lesser than $500 per month after paying for the mortgage loan. Therefore, your first property in Singapore becomes one of your retirement plans and your retirement asset. However, we would advise you to seek for a certified and trustworthy finanical planner about your decision of having only one asset or treating your first property in Singapore as your retirement plan. Truth is, even with lesser than $500 a month, the possibility of you making another investment is still high and you could make another extra few hundred dollars with it. So brace yourself in making another investment regardless of how much money you are left. 

Lastly, you start spending money on renovations that you once told yourself were stupid. You used to think spending $100 on a beautiful ceiling fan is stupid and the worst decision ever. But guess what? You start thinking that it is necessary. The aesthetic value makes you think the ceiling fan is worth it. You start to notice the difference between renting a house and buying a property yourself. You realize that all the furniture matters and it is necessary to splurge on all those things that you once thought were stupid and a waste of money. Therefore, to prevent yourself getting caught in the middle of wanting more but not having sufficient money for them, start saving in advance and plan your budget wisely. That will definitely save yourself a lot of time and renovation loan with high interest. And you will be thankful and glad that you started saving earlier. 

In a nutshell, buying your first property in Singapore is not so of a nightmare if you plan ahead and do you budget wisely. After all, getting your first property in Singapore is definitely going to worth your money, time and effort in the future. However, do your research and homework first before getting yourself your first home in Singapore. So brace yourself when it comes to buying your first home in Singapore. 

Maybe you like to read Why you should consider investing in Penang properties to. See you all nxt entry. 

Why you should consider investing in Penang properties

Why you should consider investing in Penang properties | Why should you invest in property? Well, for starters the returns will give you enough money to live comfortably after retirement. Also, there are benefits that come from property appreciation, tax benefits, and many others. For those residing in Malaysia or would want to settle there, investing in property for sale in Penang is a great solution.

Not only is Penang city with a rich cultural heritage, but it combines the best of suburban and beachfront lifestyle like nowhere else. The real estate market here is probably the most dynamic in the whole of Malaysia, outside of the Klang Valley. Aside from that, real estate value is also expected to only appreciate in the future.

Need more reasons to invest inproperties? Well, keep on reading to find out.

Penang – Pearl of the Orient and the UNESCO World Heritage Site

Having a density of 2,372 individuals per square km, Penang Island aka Pulau Pinang has the greatest individual density in all of Malaysia. Nevertheless, it's just a 3rd of Singapore’s population density at 7,669 people per kilometer square.

In geographical terms, Penang island consists of a hilly interior mostly shielded by the state government. So, similar to Hong Kong, just a minor section of property can be acquired for development. Much of it is concentrated in the George Town area in the north-east. In terms of weather, Penang is humid and hot as Singapore.

This international accolade recognizes the unique cultural and architectural landscape of George Town, using its abundant multi-ethnic culture, food, art, and tradition. George Town has additionally been recognized as the 8th best city to live in Asia as well as the most liveable city in Malaysia.

Reasons to buy property for sale in Penang

1. New opportunities have popped up near the second Penang Bridge

This bridge came to a completion three years ago, consequently propelling more opportunities on both Island and Mainland areas. The interconnection of the bridge and highway has particularly benefited from this construction. Now, anyone can head up to Ideal Vision Park, which is one of the popular recreational areas in this location thanks to the bridge that connects Batu Maung and Batu Kawan in the mainland area.

2. Niche properties are on a steady capital appreciation

One term you’ll often hear when looking for properties in Penang is “prewar real estate.” But what does this really mean? Well, the prewar real estate is strictly a Penang phenomenon that implies houses having antique value. The real estate in Georgetown have been a choice among many Hong Kong and Singapore real estate investors for a decade now.

You can claim a slice of the pie as well through PropertyGuru, and do so profitably because these properties have been on a steady incline for many decades now. This is perhaps the best time to invest as property markets are opening up to foreigners as well.

3. Properties will get boosting in capital appreciation thanks to master transportation plan

Now, you can look up proposed highways by doing a quick search on “Penang transport masterplan” to see which areas are likely to benefit. As per our records, the sectors that are likely to benefit are the following:

  • Road linking Teluh Bahang and Tanjung Bungah (12 km)
  • Undersea tunnel that links Bajan Ajam and Persiaran Gurney (6.5 km)
  • Bypass roads that link Persiaran Gurney and Lim Chong Eu Expressway (4.2 km)
  • Bypass roads that link Air Itam and Expressway of Lim Chong Eu (4.6 km)
These are some of the connections that are supposed to pick up steam even more in the future.

4. The luxury real estate market reaches clang Valley PSF rate levels

Uptown condominiums such as Springtime Residences and Infinity Beachfront are now pushing the RM800 PSF mark, with the Skyhome and Regency fast approaching RM600 PSF. While these rates might still be compared slow in comparison to the KLCC enclave apartments, the current capital appreciation rate could lead to RM1000 PSF being exceeded in 2 to 3 years.

There is also a chance that a concept called branded homes may find their way into the mainstream very soon, in areas like Batu Ferringhi and Gurney Drive.

5. Prices will keep on rising with the upheaval in the rental sector

The demand for housing will remain solid, but supply doesn’t seem to be with the rising demand which implies that the cost increases will continue in tandem. Outside of Klang Valley, there’s tendency of real estate developers to concentrate more on the Iskandar region, and that is understandable – there’s an inherent deficit of big tracts of property for new developments. Regarding ROI and scale, Iskandar is also difficult to beat.

Landed properties (in particular, patio homes) have outmatched others with regards to capital appreciation for the year 2012. Some bungalows have been seen by in Tanjung Tokong, which has appreciatedby some 40% within a period of 4 months. High rise apartments are slightly lagging as few condominiums are registering as low as 6% in capital appreciation terms.

The rental sector will consequently confront turmoil. Rental rates remained fairly flat. On another hand, home buyers who then choose to rent instead may be deterred by the escalating costs driven foreign investment and by speculation.

6. Malaysian government promoting social visit pass

Now, the Malaysian government is promoting a 10-year program going by the name of Malaysia My Second Home (MM2H). This Social Visit Pass will let you stay in Malaysia and renew itself automatically unless you commit a crime. You can even bring along your spouse, kids, and others who are dependent as well.

You’ll also get the benefit of being able to purchase a car tax-free. However, to qualify for the MM2H scheme, you must possess liquid assets in the country that’s worth at least RM 500,000 on at least RM 350,000 (if you’re above the age of 50), and have a minimum offshore income of RM 10,000 per month.

Go ahead and book your spot now

If you’re still wondering why you should invest in real estate in Penang, then you’re only just delaying the matter. The more you delay, the more you have to invest in the future. So the best thing you can do is look seriously into the prospects of buying property for sale Penang right now.