Is renting or buying a house more beneficial to you? Do you know the nitty-gritty that involves this tedious and major decision? Heres what you need to know before you make a choice.
𝗜𝘀 𝗶𝘁 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹𝗹𝘆 𝗺𝗼𝗿𝗲 𝗱𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝘁𝗼 𝗿𝗲𝗻𝘁 𝗼𝗿 𝗼𝘄𝗻?
You might think if you can afford it, why not buy a house? However, despite contrary belief, homeownership tends to be higher in cost compared to renting due to expenses you normally don’t have to pay as a renter. These expenses include repairs, maintenance and basics like water and sewer services.
Renting comes with minimal to no maintenance fees as almost all the costs are covered by the landlord. This, however, comes with the sly consequence of losing the opportunity of enjoying equity gains if the value of your home increases.
One of the biggest financial set back with homeownership is the mortgage interest which might take up a significant amount in your monthly payments in the early years of a long-term mortgage. Either way, it all pans out in the long run as you are still putting money into an asset. However, when you rent, you are just paying the owner.
𝗪𝗼𝘂𝗹𝗱 𝘆𝗼𝘂 𝗹𝗶𝗸𝗲 𝘁𝗼 𝘀𝗲𝘁𝘁𝗹𝗲 𝗱𝗼𝘄𝗻?
If you like freedom and mobility, renting might be the way to go. Renting gives you the intrinsic benefit of flexibility and short term commitment. You have the option of moving each time your lease is up. However, that adjustability means you might have to move out suddenly if the landlord decides to sell or increase the rent.
If your long term goal is to plant your roots in the desired housing area, home-owning might be for you. Owning a home gives you a sense of stability and belongingness to a community. It can give you greater privacy and pride as an owner.
𝗗𝗼 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗮 𝗣𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 𝗶𝗻𝘀𝗽𝗶𝗿𝗲𝗱 𝗵𝗼𝗺𝗲?
Would you like to have those custom kitchen cabinets you have been dreaming of for years? Home owning allows you all the creative possibilities you could ever want. There are no restrictions as to whether you could drill a hole and hang that painting you love so dearly. Buying is the route for you if creative freedom is important to you. Meanwhile, with renting, there is so little freedom as to what you can do to make it your home. It is one of the many reasons why buying is more attractive than renting.
Both renting and home-owning have their benefits. Ultimately, if you need a more permanent place to settle down and have more creative freedom on your vision as a home, home-owning is the way to go. If mobility is your utmost priority, rent away! Whichever you choose, it isn’t just about money. Eventually, the decision depends on comfort and the vision you have for your life.
Asean Property Developer Awards Gala Night, organised by Des Prix Infinitus Media, is a celebratory event where the winners come together to recognize and honor the best of property developers, property agencies, hotels, and contractors around ASEAN regions. A grand night of wonders, the 2nd year of Asean Property Developer Awards Gala Dinner aims to create media coverage and networking opportunities for the elites. Reward, recognize, and celebrate with us in this rapturous evening of delights beyond your wildest dreams.
#AseanPropertyDeveloperAwards #APDA #GalaDinner #DesPrixInfinitusMedia #DPIM
At the Quill City Mall KL, something is brewing! Follow the scent of the enriching aroma to the Tea Chocoffest where your senses will be delighted with a vast array of tea, coffee, chocolate, bar and café products for the tasting!
With Chinese New Year approaching, there are a lot of festive and colourful activities to partake in, such as the Lion Dance, Latte Performance and a chance to make your own latte art. Join in on this one-stop event showcasing where your palette will not leave unsatisfied!
In the act of celebrating to the upcoming Chinese New Year and the launch of the Homes of Prosperity Campaign (“马星旺盛家园” 活动 ), Mah Sing had surprised the public on the 9th January with the unveiling of their Chinese New Year Music Video titled ‘May You Be Blessed With The Home Of Your Dreams’ (美好家园“鼠”于你).
Welcoming the Year of the Rat with a little zing, the Chinese Character for ‘belong’ was replaced for ‘rat’ in the festive song. Composed by Tee Kok Leong, a talented lyricist and music composer, the music video features the singer Crystal Liew, Malaysia’s own musician. Feeling quite generous, Mah Sing had also treated viewers with a special appearance of Hong Kong’s Superstar and their own Brand Ambassador, Eric Tsang for the music video.
The music video features many key projects of Mah Sing related to the campaign. It was filmed in many of Mah Sing’s sales gallery and show units while featuring a diversity of their own employees. The main objective of the video is to promote unity and bond of the families and loved ones in this festive time, portraying the essence of the Malaysian Chinese culture and the true meaning of owning an ideal home. The video was released on the 3rd January on Mah Sing’s social media and corporate website.
In relation to the upcoming Chinese New Year, Mah Sing had customed special Ang Pow packets for lucky homebuyers of successful booking at any of their sales galleries on a first-come-first-served basis in the Homes of Prosperity Campaign. The participating projects of the campaign are M Vertica, M Luna, M Oscar, M Centura, M Arisa, Sensory, Cerrado, M Visa, Ferringhi Residence 2, Meridin @ Medini, Meridin Bayvue, Meridin East, and i-Parc. From 3rd January till the 29th February, the campaign is open to all Mah Sing purchaser who booked within the timeframe. Participants would get a chance at a variety of prizes from gold bars to shopping sprees.
To really bring out the joyous festivity, Mah Sing had also geared up to hosting grand open houses throughout their multiple sales galleries nationwide. Visitors will be greeted to an explosion of colourful fun-filled activities from Lion Dance Performances, Feng Shui Talks, Chinese Orchestras, 24 Drum Shows, and Activities for kids, to the scrumptious delicacies of Chinese New Year feasts.
The judging sessions for APDA 2020 are now over! A hearty thanks to the brilliant judges for the smooth run of the session. With their expertise and objectiveness, the judging session was one of transparency and fairness. So thank you for coming forward and volunteering your time. We look forward to the next judging sessions in the future with you guys!
#ASEANPropertyDeveloperAwards #DesPrixInfinitusMedia #JudgingSession
The typical questions that most Malaysians have, while it comes to property purchases or investments, is the property's title.
And knowing what titles the property you own is important!
For your property's title deed is the ultimate proof of your ownership.
The Strata title is issued when you own a portion of the land along with other owners.
The land issued for is of high-rise properties; condominiums, apartments, and landed properties which are guarded and gated. Strata properties tend to come with common area or facilities; swimming pools, clubhouses or others that are shared by all residents. This comes with its own obligations for shared maintenance fees and sinking fund.
Thus, ownership of a property unit that is part of a larger shared development is under a Strata title.
An individual title, also known as a landed title, is a property that belongs to only you.
This title is issued when only one owner owns the whole piece of land. The land issued for is of landed properties; terrace houses, semi-detached houses, or even bungalows. The only exception is if the area is guarded and gated, which is then unlikely to be issued an individual title.
𝗦𝘁𝗿𝗮𝘁𝗮 𝗧𝗶𝘁𝗹𝗲 𝘃𝘀 𝗜𝗻𝗱𝗶𝘃𝗶𝗱𝘂𝗮𝗹 𝗧𝗶𝘁𝗹𝗲
In truth, having a strata title does not differentiate its effect compared to having an individual title. Having one over the other does not affect the property's price. The only difference is the preference and needs.
What is important is the tenure of the land. The tenure can affect your property from the demand to the price.
There are two sorts of land tenures, Freehold and Leasehold.
Guess what? You own the land forever! Freehold property is land that belongs to you, perpetuity. Unless of course, the government acquire your land although it is much harder on their part compared to leasehold lands.
Leasehold is a land that is leased to you for a number of years, the most common being 99 years, by the State Authority who owns the land.
It works like a tenancy. You leased the land for several years. Once the lease expires, the property will revert back to the State Authority. They then hold power to decide if they want to extend the leasehold or not.
If you want to extend, a submission of the application to extend the lease has to be made before the expiry, along with a premium pay for an extension. The amount of the premium is to be determined by the relevant State Authority.
𝗔 𝗖𝗼𝗺𝗯𝗶𝗻𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗧𝗶𝘁𝗹𝗲𝘀 𝗮𝗻𝗱 𝗧𝗲𝗻𝘂𝗿𝗲𝘀
When you purchase a piece of property in Malaysia, you will see a mixture of titles and tenures listed for that property. You end up with one of the following combinations below.
Strata & Freehold: Property that has common facilities shared with others and land that belongs to you forever
Strata & Leasehold: Property that has common facilities shared with others and land that belongs to you for a number of years
Individual & Freehold: Property where you get the whole land and it belongs to you forever
Individual & Leasehold: Property that has common facilities shared with others and the land belongs to you for a number of years
So, have you gotten a gust of the bare bones of property titles and tenures?