3 Things To Consider Before Getting That Dream Home

With the Malaysian Finance Minister Lim Guan Eng announcing last year that the government will waive all stamp duty charges for first-time purchases of unsold houses priced from RM300,001 to RM1 million in the first six months of this year, many of you may have taken that opportunity to jump on the bandwagon and may have even purchased on your new home. Well done.

For many the thought of buying a new residential property can be a true adulating experience. However for an inexperienced home owner, if you are not careful, it can be an unpleasant experience. Below are three basic things you should consider as you embark on the journey of purchasing your first home.

If you are new to the investment game you will need to choose where you want to deposit your money carefully. In general sense, an investment with higher returns is followed by a greater risk of losing your money. Most seasoned investors will always advice that you mix it up a little and hold a mix of high- and low-risk investments.

1. Research the developers of your dream home

If you are looking to buy a new property, the smartest thing to do is to see if the developer is financially stable and profitable. There are far too many instances of developers folding and leaving thousands of would be home owners stranded. If the company is in financial difficulty, you should probably think twice before considering any of its projects.

2. Know your rights before signing documents

Read everything before you sign any documents related to your home purchase, including the sale and purchase agreement as well as your housing loan. Make sure you are aware of the hidden bulk charges that can be sprung on you suddenly. Engage a lawyer or real estate agent, or even solicit bank officers for advice.

3. Ownership history

If you are buying a new home with the fresh smell of paint and cement intact – then good for you! However, if you are looking to purchase an experienced home you might want to pay close attention to its past owner(s). A home with high turnover in under 10 years, there may be a serious warning sign. There might be an underlying problem you need to look closely at.

If you have your eye on a property and need to see if you are making the right decision for yourself and your family in the long run, a QiMen forecast of a property can help determine the end result. In a property related query The Life Door represents the property while the Death Door represents the Land on which it sits. In a cast chart when the Life and Death Doors contain auspicious structures – this brings good tidings. This forecast indicates that the property is in good condition and the land that it sits on is undisturbed by unsavoury elements. Those looking to buy the property can expect a good deal and reflects a good, sustainable life.

Happy house hunting!

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