Buy now or wait for first?
RESULTS buying a house is considered a big step in life or the most critical. In addition to vehicle, home become the largest investment made any individuals who felt that time had arrived to take shelter at home.
For a wise plan, the houses are owned at a young age. However, there are individuals forced through a long and challenging period before a dwelling can be purchased results point own sweat.
In addition to factors ability finance, home buyers need to take a long time to examine various aspects. Property value, location, type of house, facilities and environmental projects to meet housing buyers taste. For the less experienced, critical views various parties including parents, to make available basic considerations.
Consequently, home buyers need to equip themselves with information and skills so that investment should be made not only secure but also give long-term benefit.
With the intention of distributing information useful to readers who intend to buy a house, Ask The Expert column this time refers Executive Chairman famous property consultant firm, Rahim & Co, Datuk Abdul Rahim Rahman regarding buying home issues.
Services provided at the firm covers various disciplines such as evaluation, research, sales, and lease negotiations, facilities management, project management, auctions and investment negotiations. This includes the purchase of assets abroad.
With this column, Abdul Rahim, who is also the founder of Rahim & Co. since 33 years ago to provide basic guidelines for individuals who plan to buy assets first.
Follow this interview ...
A person must be prepared financially if you want to buy a house. How do we determine whether we're ready to buy houses? What have the necessary financial strategies practiced?
Buying a house are among the important things in life. Typically, individuals buying a house when its age reaches 30 years. At this age, they are usually married and had children.
Consequently, they must find their own home for the family. When plans to buy a house, first, a person must have a fixed income and employment.
If the undertaking business, they need to ensure a stable monthly income. This is because the question of the purchase of houses, only a few individuals are able to pay in cash while the rest need loans from banks.
Then, to ensure you have enough cash. For example, if your income around RM3, 000, you must be able to allocate one-third of the monthly repayment for loans made.
In addition, money also must be sufficient to house the advance payment is usually calculated at a minimum rate of five per cent of house prices. It should be noted, not only the financial aspect should be taken into account, from the point of psychological preparation should also be thought.
When buying a house, loan repayment each month should be a priority, while other expenses that are not essential should be reduced.
In the current economic slowdown, what should a person buy a house? Is good save more money first or buy it now?
It depends on the person. Some individuals, at the age of 30 years still living at home parents, so the need to purchase their own home is not deeply felt.
Questions buy now or not, there is no fixed standard in ordain. Effects of the economic slowdown will be seen significantly in Malaysia may in the near future.
Many who lost their jobs or may be in a position of uncertainty regarding their work. There are also potential markets home prices down. However, we make a better first observation until mid-year to see whether the house price decline will happen before we make decisions.
Professional advice from knowledgeable about the property also wise step before making a decision.
What types of information relating to home and housing developers who need to be investigated first buyer?
Before buying a house, several aspects need to be seen. Among them, the physical quality of homes. This is seen through the example of house plans or home if it is not ready.
Then, you need to see the aspects of location and kejiranannya whether it meets the requirements or the basic conveniences such as shops, schools, clinics contacted other road and transport.
Check the status of holding a lease or encyclopedia. If the lease, check out how it ended a period of years. Other aspects to consider are increasing the value of capital (capital value appreciation) and investment - whether the house is easily re-sold or rented, and after sales service.
What is the correct tip home purchase? Many state location as the most important aspects. How does location affect the price and the value of a home?
Yes, the location of a housing project impact the price and value of property. In addition to the aspects of location, quality of the neighborhood such as crime rate and security areas, basic facilities and environment related.
Homes in all locations that have considered this quality home is worth, prospects have increased the value of capital and the price is certainly higher than other homes.
For example, in Kuala Lumpur, we can see the difference in price is quite significant house in Bangsar and Sri Hartamas area, located on the outskirts of town.
How can we know the value of the house of your dreams worth the price offered?
There are two main reasons why people buy houses, first, to live and second, for investment purposes. If its purpose to live, all aspects of the quality described previously as location, amenities, neighborhood, type of house, the prospect of selling a good price can determine whether or not worthwhile.
If someone bought for investment purposes, look at aspects such as rental returns and analysis of several different scenarios. In this matter, we can compare houses in urban areas in Selangor and Kelantan, but at the same location.
Prices of both houses is not much different but the returns obtained if the house is rented, certainly higher than for houses in Selangor Kelantan.
Where better, holding the lease (leasehold) or freehold (Freehold)?
For most buyers, who bought the house forever. In this case, the freehold would be a better choice.
For holding the lease, the buyer has a house involved for a period of time. In Malaysia, the holding period of the lease is for 99 years. If you buy a house from another person, means holding period of the lease less than 99 years.
Most homes sold in the category are currently holding the lease. Holding lease the older is better. Sometimes, a person had to choose the house holding the lease because it does not have a choice.
To them, I advise avoid buying a house from a holding pajakannya about 80 years. One that many do not know, homeowners can extend the holding period of the lease house. Simply, the process is time consuming and requires additional payment. In addition, you must make an application from the authorities.
How can we investigate the record of the developer?
History project operated housing developer, the preparation and delivery, quality and after sales service can be referred from the National House Buyers Association (NHBA) and the Ministry of Housing and Local Government or search the Internet.
To be sure, check with Bursa Malaysia, whether developers listed. Buyers also are urged to check whether the developer has a valid developer license to avoid becoming victims of fraud.
You can also ask from other buyers or those who have bought and occupy the same housing.
Flow of buying a house auction now increasingly popular. Are proper methods of buying a house through this? What is it good or bad effects?
In Malaysia, the auction house is considered not so good. Houses auctioned off the assets to be seen as 'released' and not good. However, auction houses in Australia and the United States (U.S.) for example, considered the best method of selling property and popular.
In this country, the perception of major auction houses are selling as the closure (Foreclosure) or because the buyer had failed to repay home loans.
Auction increasingly popular in Malaysia, probably because the more houses that the bank auctioned off. Among the advantages is the auction house cash fast, accurate and the closing date of no negotiations that lasted long.
Among the shortcomings, the existence of hidden problems that auctioned off the house if not examined carefully, the problem of ownership is not clear and other issues such as debt or tax arrears.
However, no one buying a house auction, should be investigated only if there is a problem that may be inconvenient because sometimes auctioned off the houses left without occupants for a period of time. So, if you want to buy a house auction and pay a certain amount, you may need to add more budget to repair damaged houses.
Some people like to buy and resell the house after a short period. What this affect the pure buyer?
Action buy and resell this house is actually a benefit. This is because it makes the market become more active thus making the economy better.
May have a view as an act of speculation. But speculation is actually part of the basic business property. If there is no speculation, real estate market is not growing. Thus, the benefits, it is creating market demand and catchment better than to give better results to the government.
Effect is not good when it happens widespread. This is not good for the market. Those speculators are not buying a house to live but to benefit the re-sell in a short period.
Speculation that too many will create artificial value in the market. Effect of pure buyers, they must meet the requirements set vendor or speculators to have house of your dreams. This means that bargaining power will be reduced.
