Real Estate Articles

Making the right choice...........
courtesy of property2u.com

For many people, the purchase of a home is the most important financial decision of their lives. Therefore, it makes sense to approach the decision carefully. The purchase of a home is unlike any other consumer product as it covers a lot of ground - including legal, financial, technical and emotional considerations. To not educate yourself and learn from the mistakes of others only sets you up to be at best, disappointed and at worst, being 'house poor'.

Caveat emptor! Let the buyer beware - The idea that buyers take responsibility for the condition of the items they purchase and should examine them before purchase. How true is this for the property buyers? It works well for buyers of completed units but not if you are buying from plans, when the construction has not even commenced. There is nothing as yet for you to inspect or assess. At least with knowledge you can enter into the world of homeownership with more confidence.

The process of building and selling a new house or apartment unit involves coordination among a large number of parties: land owners and developers; contractors; trades people; government regulators; designers; architects; consultants; planners; building material suppliers; lawyers; bankers and house buyers.

First time house buyers normally have little knowledge of what aspects to look for when they are ready to acquire a home. Thus the onus is on a prospective house buyer to be well educated on their rights and to seek help from all sources available before they make their first payment.
In reality, there is no 'one stop centre' for a study of a developer's record. It is common practice for big corporations to start a new private limited company for every project, as such, you might not be able to check track records unless you have the names of all the subsidiary companies formed. There are also instances where the development project is a one time venture that the company/individual undertakes. You will have to do some investigative work to get the information you want.

Real Estate Links.....

Redbase - www.redbase.com.my
Iproperty - www.iproperty.com.my
Malaysia Real Estate, Property2u - www.property2u.com