Finding the right type of property to buy can be a challenging task.
When buying a property in Malaysia, it is recommended that you consider your own needs as well as those of your family. You must decide whether you want to live high in the sky or as close to the ground as possible. These types of property have benefits and drawbacks. So, how do you decide which is superior? To decide which is better, consider a variety of factors, including location, facilities, maintenance costs, and convenience. Examine your finances over the next 10 to 20 years to ensure that you will not be financially challenged when times get tough.
In this article, we will compare the differences between a landed property and a high rise to help you buy a house in Malaysia.
Landed house: If space is your primary concern, a landed property, particularly nice bungalows with plenty of open space to play, will never disappoint. These homes are ideal for raising a family, and you'll be able to make as many renovations and modifications as you want (with the necessary permits, of course!) without worrying about space constraints. You'll also get a good amount of garden space around the house, which adds to the compound area, as well as plenty of parking. Landed property is unrivalled in this regard because it has both indoor and outdoor spaces that can be used as desired.
High rises are typically smaller in size, making them ideal for young couples or small families. But, people with growing families may find the space insufficient or cramped in these homes, which are typically smaller in size than landed homes. In some cases, many small units are packed onto the same floor (high density), which may exacerbate the feeling of being crammed in. Furthermore, condos are typically smaller in size and lack outdoor space aside from the service area and balcony. Living in a high-rise property means you'll be in close quarters with your neighbours and may even share spaces like the gym, swimming pool, elevators, hallways, trash cans, and so on. This can be a problem if some residents decide not to maintain these areas properly. Furthermore, having shared spaces means that you are more susceptible to noise disturbances. Limited parking spaces are available, and you may have to pay a premium to obtain additional parking space. Because of the building restrictions, you will be unable to freely modify or expand the space.
Higher resale value
Landed house: Despite their higher price tag, landed properties are still a good investment because you get not only the house but also the entire plot of land on which it is built, which will result in a higher appreciation rate and resale value in the long run. Their value never decreases and has the potential to increase in the long run. Landed properties typically appreciate more in the long run, depending on location and nearby infrastructure. As a result, it makes more sense to keep these properties for at least five years before selling them to reap better returns.
High rise: While the price of a condo is comparable to that of a landed property, most high-rise properties are typically less expensive and make an excellent entry-level purchase. It is a good investment because it is easier to rent out and produces a higher rental yield. Sky condominiums are plentiful; new buildings spring up every year or two like mushrooms. Because there are so many options, finding a condo that meets your wants and needs is simple. In terms of resale value, condominiums appreciate faster than landed properties. However, its long-term appreciation rate is slower and it is dependent on the state of the market, the age of the condominium house and its building maintenance.
Landed house: With landed properties, you are responsible for not only your home but also your backyard. You must repair a leaking roof, ensure that all electrical components are working properly, mow the lawn, secure all drains, maintain the flooring, and repair all other home accessories. The advantage is that you save money on additional repairs and keep your spending under control, making things more practical. In other words, you are fully responsible for the maintenance of a landed property but are not subject to a regular maintenance fee, unless it is in a gated and guarded neighbourhood.
High rises: With the added amenities in high-rise buildings, you will be required to pay maintenance fees on a regular basis, regardless of which services you use. Most high-rises charge a fee for additional amenities; you'll also need to budget for long-term maintenance costs of the common area and building repairs (sinking fund). It is critical to investigate the performance of the building management because inept management will drive down the property price and reduce the unit's saleability. Due to its low-maintenance nature, living in a condo equates to ultimate simplicity, but this comes at a cost.
Safety and security
Landed house: When it comes to security, however, you are ultimately responsible for ensuring the safety of your home. Landed properties are usually easier targets for burglars unless you have a reliable security guard service and home alarms in place, especially in older developments that aren't gated and guarded. Except for the gated and guarded community, which is equipped with proper fencing and security guards who monitor visitor movement, landed properties lack security protection, although they do not require monthly association fees. This means you are not required to pay for the facilities if you do not require them. Landed properties do not always have the same level of effective security systems that high-rise properties do.
High-rise buildings are generally safer because they have at least a three-tier security system in place, which includes installed smart door locks, security guard checkpoints, 24-hour CCTV cameras, and the use of a residents-only access card. The monthly association fees are required to support both the unit and the common areas. The vast majority of residents, including those who do not use these services, consider these fees to be an additional cost of living. This monthly contribution covers the cost of keeping your home secure at all times. With various measures in place to protect residents, high-rise properties provide a sense of security and safety.
Should you buy a landed house or a high-rise building? Which option is the best? Condominiums (high-rise) and landed properties are usually at the top of the list when it comes to real estate. Indeed, if you take a look around, you will notice that these two types of properties are becoming more prevalent in many towns and cities. As you can see, both types of properties have benefits and drawbacks. It is entirely up to you whether you want a condominium or a landed property.
The decision between a landed house or a high rise will be influenced by your personal preference as well as the new property you wish to purchase. Choose a home at Seri Pajam that fits your lifestyle. Modern does not always imply superiority, and traditional does not always imply a good choice. Grab your dream home with Seri Pajam Development from our website https://www.seripajam.com.my/onlinesale and book now for as low as RM99.