Partly as the overall property prices are still more affordable than before the economy crisis, we would like to discuss about some factors to be considered for house buyers. It is always a criteria to study before a buying decision is made be it for self occupancy or investment purposes.
Select your Type of house
Condominiums are very popular now around town center featuring facilities and modern living. However generally they are lower resell value due to title and ownership factors. For first time buyer, condominiums are more affordable and suited for single or husband and wife occupants.
Link houses are landed properties and therefore they have higher market value and demand. Suited for bigger size family but also depend on preference.
Land and bungalow lots are generally for the good income group.
Location – it is important for a good located house considering the fact of convenience where amenities are around as well as good public transport. You do not want to travel long distance from your home to work every morning. For investment protection, strategic location is the key.
Accessibility – the house you are buying should be easily accessible with proper roads.
Size – you may not want to waste money for a bigger house if not necessary. It is your preference and affordability.
Hidden cost – this will be the cost incurred in your monthly bill and you are advised to calculate beforehand such as maintenance fees for apartments and condominiums.
Timing – you can look into the possibility of buying at the right time in view of economy situation or urgent sale.
A golden rule behind will be do not rush to buy a house if you are unsure. It is always better to be sorry rather than regret. You would not want to stuck your money in a house because of a wrong decision.