How to Spot the Ideal Real Estate?

Spotting the ideal property may sound like a daunting task, especially when you’re blinded by the glitzy brochures collected from every show unit within sight, comparing traits like 22’ x 75’, tiled kitchen, private lifts, backyard, gated, malls, schools, the list never ends. but is there an easier way? sure is as we’ve simplified it for you to tunnel you through the maze every step along the way.

To begin your quest, you need to first ascertain which PROPERTY TYPE you’re interested in. This is important because whether it is residential or commercial, they both bring very different values to the table and even behave differently in the real estate market.
Establish what might be the great big PURPOSE of the purchase, is it to be used for your own dwelling (see Step 4) or as an investment (see Step A)? The answer to this will lead to very varied considerations.

How much are you willing to part for that particular piece of real estate? Money or BUDGET is often the culprit in today’s material world but for those blessed with sufficient financial stability, buying any piece of real estate is a piece of cake. Unfortunately, not everyone is blessed this way. Therefore, it is important that you consider your financial capacity before committing to the property as it might haunt you daily like a recurring nightmare!

How much to set aside? At least 10% of the total property price before going through all the purchasing procedures. The 10% rule provides sufficient buffer to cushion any unexpected event that may arise from the purchase such as a glitch during the loan application. It is also advisable to take note of the banks’ interest rates as it can help you manage your finances better, especially after the purchase.

Making It Your Home
If you have set your heart to buy a residential property and it is to be your own home, then the main influencing factors will be your FAMILY PROFILE or occupiers’ profile. The characteristics of the family plays a big role and will lead to question of size because logically, the larger the family, the bigger the space required.

The hunt for the ideal home is influenced by ACCESSIBILITY of the neighborhood but strangely enough, there are two schools of thought when it comes to accessibility.

The first category buyers are drawn to places that are highly accessible while the second finds the convenience a nuisance because their main objective to live in a peaceful environment is tainted by the noise pollution from the heavy traffic. This deters the buyers regardless of how engaging it may be. Either way, when a place is networked sufficiently, demand for the properties tend to rise over time.

Accessibility also relates to TRANSPORTATION. Most middle income earners who rely on public transportation such as the Light Rail Transit (LRT) or buses will find a place tended by these services to be the ideal place to set up their home. But for those who have their own vehicles, highways become the top priority!
Another pressing factor is the surrounding AMENITIES, more so if you have a family because
your demands will be higher. You’ll tend to look for places with schools, nurseries and markets or supermarkets, and there’s absolutely nothing wrong with that. After all, you do need to feed your family and your kids will eventually need to go to school.
Social circles and age play significant roles in choosing the ideal home as some prefer to be where the ACTION is, especially the younger generation. In this case, proximity to friends and leisurely hang outs are prime considerations. Hence, the ideal pad is one that is close to shopping malls, sporting halls, trendy eateries and even drinking holes. On the flip side, the milder neighborhoods are best for those preferring a subdued atmosphere.
One amusing phenomenon which many may not consciously realize is the green factor. While back then, the luxury of NATURE is only attainable or even sought after by the wealthier few, these days, every eco conscious citizen blares the horn for all things green. And though solutions like rain water harvesting may not come cheap, in-built eco centric architecture such as the orientation of the building is not as this depends solely on the sensitivities of the builders and architects to present day’s needs.
STYLE OF THE PROPERTY is a factor considered by many especially by those who are concerned with the aesthetic values. Such buyers tend to look at the layout of the property and the surrounding environment because Malaysians have begun yearning for their own unique individuality and gone are the days where everyone settles for the same thing, people are more attuned to creativity and a tad more appreciative about it. Given this rising trend, Malaysian properties have experienced an influx of themed-design homes by renowned architects and interior designers. Even the materials and finishings are becoming part of the crucial evaluation factors. But of course, for all things nice, the price too will be nice!
From the alarming crime rate, SECURITY has since ranked itself as one of the top most priorities of all time in Malaysia and it is undeniable that gated and guarded properties have become very popular because of this. Look out for security features that are built into homes such as panic buttons that are connected to the security centre.
Unlike location, LAND STATUS is the duration of ownership you have over the occupied land. While free hold land grants you infinite ownership, barring environmental and town planning controls, a lease hold land usually has a 99 years expiry date. Given the difference, a free hold land always command a higher value and it is this very reason that drives developers to scream about the added advantage whenever their development sits on the prime land!
As An Investment

Should you be looking to a property as your investment, then the priorities differ from owning a self occupied home. First and foremost, determine the TYPE OF INCOME you are looking for from the property investment, which is either Rental Income or Capital Appreciation.

Typically, condominiums and apartments are more suitable for rental income as the demand for such properties are higher and far more frequent than landed properties. On the contrary, landed homes are more suitable for capital appreciation.

In any case, when a property is bought as an investment, chances are it must be tenanted if it’s a fully completed property. The rental collected will, at the very least, lighten the load of the mortgage, if one is taken that is.

To entice someone to rent a unit, you’d need to think about the needs of the tenants. One good place to start is the LOCATION. This age-old mantra has been the key to real estate success. The more strategic it is, the higher the demand, simple!
Residential or commercial, your next considerations would be ACCESSIBILITY and AMENITIES as these will determine whether your purchased property is humanly accessible
Investment Commercial

It is important to ascertain if the SURROUNDING RESIDENTS are willing to spend their time in that particular area because commercial assets thrive on business viability. If the area is not commercially viable, it defeats the purpose of the investment.

Should your analysis conclude the area to be feasible then the research goes to the next level where you would be ascertaining the age groups of the population, the race composition and the general profession of the surrounding residents. Such information will determine which business is suitable and which is not.

FUTURE DEVELOPMENT in the surrounding area is also crucial to the demand for the property. Upcoming projects such as the Light or Mass Rail Transit, shopping malls, recreation centers, schools are just among the considerations.

Score your shortlisted properties using the forms and see if they have what it takes to be your ideal real estate!

Click Title Below to view Quiz
- Score The Property For Making It Your Home- Score The Property For Your Investment