No matter where you are in this globe, whether you are in your native land or you are in another country you plan to settle in, owning a house must be your utmost goal. After all, renting for a long time can be burdensome like you are just wasting your hard-earned money since the property will never be yours even if you are renting the same property for quite some time. The properties that are famous for renting are G Residen, Pantai Hillpark and Seni Mont Kiara.
However, we all know that buying a property or a house is not something that can be accomplished just because we want to. Property is quite expensive that it needs for one to have a good amount saved in his pocket. But of course, this is not impossible as well. So, like for example if you are planning to buy a property in Malaysia, though at the moment your money is not enough, these following tips might be able to help. Check this out:
This should be your first consideration so you can then adjust the money you need to save in a monthly basis. So, like for example if you plan to buy a property in Malaysia after 5 or 10 years, you should then start saving so that after the target year, you will have enough for the down payment. Yes, as you can’t get a house without the down payment or buying the entire property in cold cash.
How much you can afford?
Your budget is the next thing you should consider. Yes, think of something that you can realistically afford based on your income, including other resources, that you think will last for a long time. Properties come at different prices. There are properties that are very expensive because of course, they are huge with all the amenities, and there are also those that are just affordable, but with less amenities and maybe, the location is not that amiable. So, you should think carefully when choosing the property as if you go for something that is too expensive, just because you have other resources at the moment, you might not be able to keep them later on. Note that a property mortgage can last up to 30 years! For places such as G Residence KLCC, Seni Mont Kiara condo for rent KL, and Pantai Hillpark Bangsar, the prices are pretty much affordable.
Save for the down payment
To start your goal, you have to give the reservation, or the down payment right away. Most of the time, the cost is 20% of the actual price of the property in Malaysia. When it comes to properties in this country though, there are sites you can check online that offers different types of properties like condos, residential, apartments and so on. You can check on it as you might like one of their offers. There might be other options if you won’t be able to shell out the down payment amount. However, you should know that this another option might cost you more.
Other initial fees
While the down payment might be the biggest amount you need to save for at the start of your goal, there are still other fees you need to think of like the closing and title fees. Aside from that, there are still unavoidable fees you also need to save for. The best thing to do here is to ask a real estate agent or the agent of the property you are targeting.
Revise your monthly budget
Just like anybody out here, I am pretty sure, you also have your own monthly budget. You can revise it now that you plan to buy a property in Malaysia so that you can include this project. This way, it will be easier for you to manage your funds. If by chance you have no drafted monthly budget, I guess it’s time to create one so that you can track your expenses and stop those unnecessary ones. It will be easy to lose track of your funds if you have nothing to follow on.
When revising your budget, seek out some expenses in it that can be cut off or can be lessened for that matter like your electric bill, water bill, or your bonding times, and so on. This way, you can really save for your soon to be home.
Invest the amount you have saved
While saving your money, you don’t need to just have it in your side. You can invest it somewhere safe like in the bank. You don’t need to go for those too good to be true investments as most of the time, they are just scams. It is okay to just have minimal interests as long as they are sure. Besides, that is better than just keeping your money idle. At least by the end of the year, your money grows on its own. Note that it might take you years before you can save enough for your dream house.
Budget and save
You might think that your budget is already tight, but then again, it can’t help to recheck and recheck so that every extra amount will go to your house. And even pennies can help a lot. After all, this is a long-term process, as mentioned above. Anything you can save for your house will be a big help in time. You could always dismiss the idea of looking at properties for sale Pantai Hillpark if you can’t afford it.
While your goal is to save money so you can raise enough for the down payment at least as well as for the other initial fees, it would also help if you properly choose the property to buy in Malaysia. It is just a good thing that you have a lot of options when it comes to this and you can easily find most of them online. That is right! You see, you are buying a property here that can be your home for the rest of your life. That means you need to consider a lot of things here like the safety of the location, the accessible of the amenities that you and your family will usually need to go to or the skateboard park your son always go to, the size of the property and so on. There are sites online that can help you this. They will be eager to assist you for sure.