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5 Questions to Ask Yourself Before Buying Your First Home

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Landed vs High Rise?

There are many factors that can be put into consideration when it comes to determining on which type of house you are buying as your first home; such as security, house rules and facilities. There is also the price factor. Landed homes carry better value but condos carry better rental yields. It all boils down to the purpose of you buying the property.

 

City vs Suburb?

If you are a city dweller, consider buying a home at a mature or developing area where there is high accessibility to public transportations and public places so it will be easier for you to go around. A suburb area might have limited access to public transportations but it will be a lot calmer than a highly saturated area which is great for a peace of mind. Lower entry price, better environment AND bigger land space? You cannot get any better than that!

 

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Is it worth the money?

Spending a large sum of money with high commitment might be a daunting idea to some. But imagine having a place of your own where you can decorate and renovate according to your taste without having to ask for permission from the house owner. The privacy and freedom that you get are definitely worth it!

 

Can I afford it?

Choose a property that suits your budget well. Purchasing property involves a lot of upfront costs: closing costs, down payment, new furniture, moving expenses. Create a budget for your monthly payment to manage them better.

Am I mortgage-worthy?

Your income, debts, assets and liabilities are the determining factors in getting that mortgage. Remember to keep that Central Credit Reference Information System (CCRIS) record clean and you’ll be a hair’s breadth away from owning that first home. EcoWorld is currently having ‘Help2Own* campaign’ especially for first home buyer & upgrader. Just pay 5% and apply for 70% loan from the bank and EcoWorld will help with the rest. Enjoy hassle-free payment terms and an additional benefit during this promotional period. Visit EcoWorld galleries today or log on to www.ecoworld.my/happenings for info.

*For a limited time only and subject to terms and conditions.

 

 

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