Things to Know When You are a First Time Home Buyer in Selangor and KL

As a first time property buyer, either for private use or as a form of investment, there are several things you need to consider before taking a dip into the property market in Malaysia. From top property locations in Malaysia to top property developers in Malaysia, to very detailed financial planning and considerations.

Many people have formed an erroneous opinion that the cheaper the value of the property, the more value they will be able to get from its purchase. This is not always the case, and most times, such property purchase always ends in great disappointment.

This only serves to emphasize the importance of consulting with a property developer in Malaysia before making any substantial financial outlay on a property. There are several developers in Malaysia that you may choose to consult with, such as IJM LAND, who would help you get the best information on new launch property in Malaysia.

New launch property vs. subsale property

A new launch property or project refers to a property development that is still undergoing construction. One of the advantages of buying a new launch property is that the upfront cost required can be as low as a few thousand Ringgit. This is especially true as many property developers now offer various promotions and perks, such as a waiver on the stamp duty fees and legal fees. The most crucial factor to consider in this concept is the developer’s reputation and past performance.

On the other hand, subsale property refers to pre-owned property. Not only does purchasing a subsale property requires the buyer to pay a heavier upfront cost, in certain cases, the buyer might also be prepared to pay for a refurbishment cost before moving in.

That being said, buyers of new launch property should have different financial planning as compared to buyers of subsale property. In this regard, buyers of new launch property should be prepared to spend on renovation of the property, such as the installation of new kitchen cabinet, new furniture and household appliances. On the other hand, buyers of subsale property should be prepared to pay for a heavier upfront cost, such as 10% downpayment, stamp duty fees, legal fees, property agent fees, and possibly home refurbishment expenses.

Today, there are several new launch projects scattered around the states of Malaysia. Prime among these new launch projects that you may consider when you want to make your first purchase are properties in Selangor. Looking up a new property launch in Selangor is not so difficult, as there are several websites with property listings.

From condominiums to landed houses, there are several properties or new houses for sale in Selangor that may pick your interest, and more importantly, they have flexible payment plans that easily allow you to become a homeowner.

The most important thing you need to keep in mind is always to do a background check on the property developers in that area. The track record of the developer tells a lot about the sort of quality you should expect on the property, which is still undergoing construction. In addition, you can also consult our helpful personnel at IJM LAND, your top property developer in Malaysia.



Other areas to check for top property in Malaysia

Kuala Lumpur

Kuala Lumpur, which is famously known for the Petronas Twin Towers, also happens to be the capital of Malaysia, and it is a perfect place to start your search for a new home. There are several condominiums in Kuala Lumpur that are available for sale at fair market price with a good asset appreciation rating.

If you decide to buy a property in Kuala Lumpur, you can begin your search by looking for a new condo in KL or condominium in KL. You will be surprised what you will find.

Selangor

Selangor is the state closest to Kuala Lumpur, the capital of Malaysia. Selangor as one of the most developed and affluent states in Malaysia has many hotspots, such as Petaling Jaya, Subang Jaya, Sunway City, Shah Alam, Puchong, and many more.

The properties in these areas are in very high demand. There are many good houses for sales and new property launches in Selangor with an excellent asset appreciation rating.

A good example is Bandar Rimbayu & Alam Suria Enclave by IJM Land, a carefully crafted residential project nestled in the most prime location, away from the bustling city yet neighbouring hotspots in Klang Valley.

Cheras

Cheras is a town and district located in Selangor and Federal Territory. Cheras property is highly valuable due to so many factors – one of which is the fact that the neighbourhood sits between KL and Selangor.

Johor Bahru

Johor Bahru is the capital of the state of Johor in Malaysia and has a population of about 500,000 people. If you are a first time home buyer, it is worth taking a look at Johor Bahru property as they have the potential to yield great value in the long run.

Penang

Penang is a great place to find a top property in Malaysia. There are several new housing projects in Penang, and if you are interested in something more stylish, then you can go for a luxury new condo in Penang.

In order to make the process less complicated, it is advisable to check with the best property developers in Penang, such as IJM Land.

Now Everyone Can Own Their Dream House

To encourage more Malaysians to own their dream home, the Malaysian government has introduced a number of initiatives, such as the following:

Rumah Selangorku

With the objective to realize the goal ‘One Perfect Home for Each and Every Family’, the Selangor state government has introduced affordable housing (properties between RM42,000 and RM250,000) that is more comfortable for its occupants in terms of size, floor plan, neighbourhood and community.

This scheme is applicable for homebuyers who do not already have a property in Selangor and have a household income of less than RM10,000 a month. One of the notable property projects under this scheme is ‘Alam Suria Enclave’ by IJM Land.

MyHome 2.0

Under the ‘MyHome 2.0’ housing scheme, first time home buyers can purchase their first home with 0% downpayment. The state government will subsidy RM30,000 or 10% of the property price, whichever lower. In order to be entitled to this scheme, home buyers must be Malaysians at the age of 21 or above. The monthly income of the home buyer should be below RM10,000.

This scheme applies for affordable housing in Malaysia with a selling price of RM500,000 or below. Established and reputable property developer such as IJM Land, a top property developer in Malaysia, has several projects that are entitled to this scheme, such as Riana Dutamas @ Kuala Lumpur.

Apart from the aforementioned locations, there are also beautiful condominiums in Kuching, and if that doesn’t meet your taste, then you might find a house for sale in Sandakan that meets all your requirements. For more information, get in touch with us.

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