If you are a first time buyer looking for your first house, most likely, like I had personally experienced, will be hardpressed to make decisions that will have a long term implications. I include below some tips from an expert in property investment:
1. Location, location and location
Location is the most important. There are many elements of location, first you may like a house near amenities, such as a school for your son or daughters, a mosque if you were a muslim or shopping complex for your weekly shopping. If you are working, it is important the house is not too far from your place of work, otherwise you will be wasting countless hours in your daily travel.
Location has to looked at in perspective of time. The present location may be attractive for you. What about 10 years from today. My previous house was perfect place to bring up a family. It no longer is, as the whole area is being turned to commercial complex with house establishment for night lifes with pubs and discos.
2. Infrastructure.
It is nice to have a house not too far from public transport. The London tube is a goog example, the houses with access to the tube stations fetch a better rental price compared to those further away.
3. Tenure
Some of the properties are on leasehold, probably 99 years or lesser. These properties have shelf life, thus you you expect it to fare less favorite compared to freehold. If it is on leasehold, please check the remaining term.
4. Developers background
Malaysia has an odd system. When you buy a house that is to be developed, the risk is too high on the buyer. This is because you are paying in advance for a incomplete house. Thousands were cheated without help from anyone. Some developers is known for good quality product and prompt delivery.
I hope this short tips are of some help. It is better that the agents that have some hidden agenda. Spend some time to do research in selecting your right house.
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