Category: Check List (2)

checklist-300x300– Does it have strata titles or individual titles, The former will be bound under the Strata Title Act. Although new regulations state that guarded and gated development have to have strata titles, there are projects still offering individual titles.

 

– Confirm if the guarded and gated has obtained the necessary approvals from the authorities.

 

– Check the developer’s track record. The developer’s involvement in guarded and gated projects is inevitable, especially during the initial completion period, e.g. engaging the residents, setting up a resident’s committee, appointing security guards and landscaping companies, etc.

 

– How much are the maintenance fees. All residents need to contribute toward the management and maintenance of the common areas within the guarded and gated area. Per house contributions can be exorbitant if there are only a small number of residential units within the guarded and gated area.

 

– How is the road circulation within the guarded and gated area as well as ease of access to the main road and highways.

 

– Features such as open areas, car-parks, CCTV etc.

Property buying tips

Buying a property may be a most expensive product that every one going to purchase, so before you actually make such important decision, here are some of the guide line and tips that you may go through.

Make sure you visit the area where you plan to buy. It sounds obvious, but many people are pressured into buying at property shows before even setting foot in Malaysia. Don’t be seduced by promises of rising prices. Just because developers are raising the prices of new flats it does not mean there is a genuine market in second-hand properties. Indeed, they may actually be changing hands for substantially less money than off-plan ones

Talk to people who have already bought in the development or in the area to see if they are happy. Internet chatrooms can be a source of useful information — although bear in mind some contributors may have axes to grind.
Choose your property carefully. Be prepared to pay a little more to buy a flat on the beachfront or in a better location. It will hold its value better and be far easier to let than a property in the middle of nowhere

Beware of so-called ‘rental guarantees’. Be sure of who is making the guarantee and what you can do if they don’t honour it. Some unscrupulous developers will offer a 10% return for the first few years to make the property look more attractive — and will have simply inflated the sale price accordingly. Some developers even offer ‘rental guarantees’ for up to 13 years at 8% and you need to be aware that these offers cannot make sense for anyone except the developer.

See the check list below:

Continue reading ..