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MAKING A CHOICE IN HOME OWNERSHIP

March 5, 2020

As young adults moving into adulthood, the first desire that usually comes to mind is to own a home of their own. Then, comes the decision-making process which involves choices between buying a brand new, pre-construction or a completed ‘ready-to-move-in’ unit. The decisions made in these first stages plays an important role in a person’s entire home ownership plan down the road. Just like almost every existence in life, there are pros and cons to it all. We would like to share some pointers in this subject which we hope will add value to your course. However, the conclusive decision will still be yours to make.

Over the years, the property market in Malaysia has leaned more towards the “sell and build” mechanism where projects are open for sales even before the construction work begins. This is also known as “pre-con”. Hatten is one of the many developers who has chosen to run with this concept since the beginning stages of Hatten’s initiation in Melaka. One of the reasons that property buyers are opting for this plan is because prices offered pre-construction is much mellow on the pocket compared to completed projects. A property that has already been built and ready for move in can cost up to 30% higher! On top of that, property buyers who have invested ahead of time are not only offered astounding discounts and freebies by developers like Hatten, they also stand a good chance in earning a significant value appreciation on the capital investment if sold as the timeline draws closer to possession or after the project has been completed.

Hunting for pre-con units are made easier due to the fact that interested buyers can acquire just about any information they need in regards to the specific project by simply visiting a sales gallery to look at show units, or speak to a sales agent and ask questions. Down payments are made to be more flexible with instalments, discounts, etc. Most times, depending on how generous the developer is, the cost of transaction fees will also be absorbed by the developer to ease the burden of purchasers.

In the wake of today’s stunted economy and industry growth, developers tend to be bigger in their giving to win the interest of potential buyers. Apart from all these benefits, a first-hand unit is most certainly more appealing as it parades today’s unique and innovative designs. In terms of unit selection, the choices are on a much wider scope where buyers can choose from the multiple layout designs, and which view or direction they would prefer.

In saying this, new owners of these units will also have lower expenses on repairs, maintenance and customisations. To add to this, it usually comes with a ‘defect liability period’ (DLP), where the new owner is entitled to get the developer to rectify any defects found in their unit.

Owning a home is more than just publicity. There are many reasons owning a home is important, and most of them stem from the fact that home is an asset and it determines the beginning of long term and short term financial success. Buying a home rarely brings regrets and almost everyone who has, ends up thankful for the investment they made into it.

However, your first home is a big purchase—maybe even the biggest one you’ll have ever made up to this point in your life! Because of that, you don’t want to risk messing this up. Refer to our agents listing in our website for some of the best agents to call for assistance and advice. Happy house hunting!

 

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