If the thought of living in a
laidback and relaxed atmosphere
appeals to you, then packing up your bags and moving to Penang might just be
the best decision you can make. With wonderful local scenery to take your mind
off the crazy crowds of the city, with no traffic in sight, it’s exactly what
you need to get your home buying instincts out in the open. If you seriously
want to consider moving to Penang, there are a few tips you need to keep in
mind.
Pointers to
Consider
1. It’s
going to cost you. According to The
Malaysian Insider, property prices in Penang are about 5=five
times higher than the area’s median income. That means you need to be
financially ready for this before you proceed any further. If you’ve got a
little money saved, you’ll need to research on financing options available to
you to make sure your funds make the cut. There are plenty of other lending
options aside from banks. Make sure you do your research before you decide on
anything.
2. Your
credit history matters. Lending institutions are going to take a long, hard
look at your finances. If you’ve got a terrible credit history—massive credit
card debt, unpaid loans, etc.—say goodbye to that bank loan. While there are other
options, they’re likely going to rate you a higher interest rate. That’s
because your credit history makes you a policy risk. To keep that from
happening, do everything you can to avoid getting a black mark on your credit
history. Also, make sure all the information is accurate. Simple errors in your
information could delay the loan approval process even further.
3. Buy
a home you can afford. Assess your financial capability. Be brutal about it.
Know how much you can afford to pay. Combine that with the financing you got.
Then find homes in Penang Island that are within the range of your price.
There’s no use looking over homes that are way above your price range. It’s a
waste of time plus only serves to whet your appetite for something you wouldn’t
be able to afford anyway. By keeping to the homes you can afford, you won’t
have to struggle with your buying decision if you find an expensive home that’s
completely impractical for you and your wallet.
4. Choose
convenience, says The Malay
Mail Online. If it’s a toss-up between buying a
home in the city—in prime location—with a higher price tag than owning
one—situated an hour or two away from the city—for so much less, which one do
you go for? Most people, especially those who can’t see past the glorious
thought of owning a home think buying a home anywhere is worth it. It’s not.
You’ve got to factor in convenience, travel time, commuting stress. So go for
the choice that offers you the greatest convenience. It’s a great investment
for the future. If you go with more affordable option, be prepared to shell out
more of your money for commuting expenses as well as effort and time for your
daily commute.
5. Take
advantage of property finders. To get the best run of choices, go through
online listings. Finding a Penang
property for sale with Property Guru is easy. Real
estate websites like this are often simple to use so navigation isn’t a
problem. For any self-respecting home shopper out there, it’s the kind of
invaluable tool you shouldn’t miss out on using.
6. Read
the fine print thoroughly. Know what you’re getting into before you sign
anything, and that includes reading over your final contract. Contest any
terms, conditions or clauses that sound fishy or suspicious. Call attention to
anything you don’t understand or would like to clarify even further. This more
you understand what’s happening and what the legal ramifications of the
contract are, the better informed your choices will be.
7. Get
out of debt. If you’re still making ends meet or still paying off your credit
card debt, then do something to put an end to that as soon as possible. Look
for other opportunities to earn cash so you can pay off your debts faster. When
you buy a home, it’s important to start with a clean slate. Bringing on any
debt can send your finances in even more of a downward spiral. So clear your
debts off the table first. Then, you can start thinking about how to buy a
home.
8. Make
sure you like the home. While your financial capabilities hugely affect the
home you can buy, make sure you pick one you like. If nothing strikes at first
glance, learn to look past the staging to the home underneath. Appreciate good
architectural bones. Your home doesn’t have to be a mansion to be likable. You
only need to imagine yourself in that space to feel at home.
In Conclusion
Home
shopping can be stressful, but there’s no reason to feel overwhelmed. With the
right tools and perseverance you’ll find your ideal home in Penang in no time.
**Featured Article
.png)
0 comments:
Post a Comment