It is everyone’s dream to own a home. Apart from securing your future, buying a home also guarantees your health and comfort. However, buying a home is a big commitment, and you need to be ready before you make the big leap. The first thing you should do is understand the unique features of the property you want to buy.
If this is your first rodeo, having written priorities is an excellent way to get started and remain focused throughout the process. In addition, this will help you to remember the features that are important both to you and your loved ones. For example, if you’re using PropertyGuru Largest Property Portal in Malaysia to compare homes, you can eliminate properties that don’t work for you. Some of the things that you should consider, including:
- Location of the property
- Distance from your workplace
- Security
- Proximity to public transportation
- Amenities of the property
- Age
- Your budget
- Whether you want a high-rise unit or a landed home
While thinking about the physical home is important, you should also consider the type of land title of the property you want to buy. Most home buyers are unaware that residential properties have different land titles. There are three main types of land titles in Malaysia: freehold, leasehold, and Bumi lot.
The type of land title will determine the control you will have over the property and affect the transfer period. For instance, a leasehold title means you will own the land for a certain period, usually 99 years. Therefore, the land isn’t yours, but the government owns it.
If you would like to learn more about the types of land titles, have a look at the following infographic. The infographic clearly shows the differences between the various types of titles and how they can affect the price of a property.
Infographic designed by PropertyGuru Largest Property Portal in Malaysia
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