It is a huge moment in the lives of any family when they decide that either living with others or renting they are going to purchase their own home. There are many things that they need to consider before making such a huge commitment which will involve large sums of money, not least is it affordable and provides a sound investment.
However, once the decision has been made, it will pay huge dividends as it provides security and not being held ransom to rent increases or poor living conditions. It allows the freedom to make the home somewhere special with personal touches being added to increase its comfort. Whether it’s a one of many Razak City Residences or another location, the benefits that can be enjoyed are immense.
There are far better bank deals available for those of a younger age when they buy a property in Malaysia as a loan tenure of up to 35 years may be available depending on the age of the applicant. That means that finances won’t be overstretched by severe repayment terms, which in turn can lead to a more comfortable and relaxed way of life with money being available to have fun. Rather than continuing to spend money on rent which offers no return, a home is there whenever collateral is required offering an excellent return on investment. As prices continue to go up, it is wise not to procrastinate and make a purchase as soon as possible.
The average Malaysian income doesn’t receive the same rate of increase as a property rises in price which emphasises the benefits of purchasing a home sooner rather than later. Having made an investment, it allows the homeowner to spread their wings and make a second purchase while renting out the original property to pay off its mortgage. This offers huge possibilities of having finance in place to enjoy a prosperous retirement after finding a perfect home in a competitive real estate market.
It’s also highly likely that any property that is owned will increase in value and can either be handed down to offspring or sold before downsizing to somewhere more appropriate in later life. Additional security is available when purchasing the right insurance policies to cover any unforeseen circumstances. This can sometimes lead to major issues and the possibility of a home being sold at lower than its true value. Each time a monthly mortgage is made the cash left over after other expenses from a salary which will enjoy annual increases can be saved.
The peace of mind and stress free existence that owning a home can provide is immense and allows time to ensure other things such as taxation is managed properly. Further additions can be made to the property increasing its value and curb appeal further while many happy family memories will be created.
There has never been time to purchase a house in Malaysia, particularly for the younger generation, with wide choices and excellent mortgage deals being available.
