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If
you are a seasoned property investor, there is no real effort in buying
a new house. If you, however, happen to be a first time house buyer, or
a budding investor, you need to read on. There are many aspects of
buying new house for sale.
New houses are primarily built by property developers. All of us have
gone to buy a computer notebook at one time or another. What is the one
thing, everyone tells us to look out for? The one thing is the
manufacturer of the notebook. The reason is quite straightforward. You
need to be assured about the quality. In buying a new house for sale, it
is no different. All developers are not equal.
Buying a house is not a small decision. It costs a lot of money. If you
are taking out a loan, you will be paying the bank for years. And most
of all, it will be your home. A place you will raise a family. Such
responsibility needs careful action. You need to study and find out all
you can about buying a new house for sale. In fact, it is so serious
that it can cost your life.
Find the reputation of the developer
Popularity or the power to advertise does not define a developer. A wise
man once said: “You are what you do”. This saying is particularly
appropriate for the developer.
• Experience: Every experience makes me a wiser person. The developers
need a few years to complete a single project. You should trust an old
hand at the trade. If the company is at least 10 years old, you can
think about trusting them. This would translate into 5 projects minimum
on new house for sale.
• Residential: Commercial properties have different needs than
residential properties. The experience, of the developer we seek, should
be in the residential sector.
• Size: Check out the size of the residential projects that the
developer has undertaken till now. They should be respectable. The size
of the earliest project should be the smallest. The size of the latest
project should be the biggest. This is a quick measure of success.
• Membership: The developer should be a permanent member of the main
national builders association. It is alright if the developer has a
membership of 100 other organizations, local and otherwise. What matters
most is that he is a member of the main one. Most of the time all it
takes is to go to the developer’s office and they will proudly provide
you the list of memberships. You can also check on their website. The
best place though is the website of the main national builders
association. In Malaysia, it is REHDA – Real Estate And Housing
Developers’ Association Malaysia. The website address is http://www.rehda.com.
Inspection of the new house for sale
Observe the surroundings and the environment,when you are visiting the
project. The quality of the things that you see is a measure of what you
can expect. Visit the interiors of a new house for sale, if you get an
opportunity. Observe and see if there are any obvious shortcomings.
Find out about any delays that took place.
• Was the project finished on time? If not, were the delays bearable?
• Was there any compensation for the delay?
• How was the information flow? Did you get regular updates from the
developer?
Banks
The projects of an accomplished developer are supported by relevant
authorities. They are on the approved list of most banks. So when you go
to the bank, expect them to know the project and the developer. If they
are clueless, well maybe you need to buy a different house.
Banks also evaluate the property and can tell you what they think about
the property. This is a significant evaluation of the property, that you
are going to buy. You probably have an account in a bank for a long time
now. The bank sees you as their client. They will be glad to help you
out with information about the developer and the project.
Conclusion
New house for sale are normally offered by developers. The developers
range from small to large. You have to check out the developer of the
house before you consider buying into the project. If you follow the
recommendations above, you will not be in for nasty surprises.
A house is a home. It should not become a nightmare, financial or
otherwise. Now you can go ahead and purchase with confidence.
Sources: http://propertyinvestment.com.my/
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