In this article, I will provide house buying tips regarding the location of the house for home buyers, especially first-time home buyers. This is because location plays an important role in the price of a residence we want to own. Regardless of the type or ownership status, location plays the most crucial role. Current economic factors can also influence the price of a residence.
House Buying Tip 1: Amenities Infrastructure
In the past, we could see houses with a scale of 20 x 70 available for under RM200,000, but now it’s quite difficult to find residences of this scale at such prices. Even if there are, some of them are residences being auctioned by banks.
Take for example, a residence close to all amenities has a vastly different price from a residence far from all amenities. These amenities can be divided from various angles, including:
- Mosques
- Schools
- Gas Stations
- Banks
- Police Stations
- Fire Stations
- Hospitals
- Universities
- Business Centers
- Government Departments
- Main Shopping Areas
- Highways Main Roads
House Buying Tip 2: Surrounding Area
This location not only involves the infrastructure around your residence. In fact, what’s in front, behind, to the left or right of you also plays an important role.
For example, take a single-story terraced house facing a playground and another single-story terraced house of the same type facing a hill or near a treatment plant area. They may end up with very different market prices.
Therefore, before making a house purchase, I suggest you follow this new house buying tip and visit the area around the house you’re about to buy before making the purchase.
House Buying Tip 3: Distance from Home to Workplace
This house buying tip focuses on the distance between the house you’re about to buy and your workplace location. A location close to where you work also plays an important role. If you work or serve in an area with high population density, for example in big cities, the price of the residence you want to own may differ from residences quite far from these areas.
The cost of travel from residence to workplace also plays an important role in choosing your residential location. Added to the factor of fluctuating fuel prices in the market and the cost of living raising children, this might also be a factor you want to think about more deeply. If your residential location is quite far from where you work, you may need to have a backup plan or support plan to cover unexpected costs.
For example, if any emergency occurs or your child falls ill while at nursery or school, this will increase your travel expenses because they attend school far from your workplace and your residence. There are married couples who have different workplaces from each other. Each wants a residence close to their job location.
Final Tip: Discuss With Your Partner
Here, discussion is an important step for you to choose a suitable location. Usually, a husband will choose a residence close to their wife’s workplace. This is because it involves safety factors during the journey to work. For those who leave their children at nursery for daily care, the travel factor also plays an important role.
If late to pick up the children, then the cost of their care increases due to overtime charges. So generally, before owning a residence, investigate as best as possible where the location you want is. Discuss and think as best as possible before you buy that residence. Location may save you and it may also give an additional financial burden.
