News & Articles 5 Tips When Buying Your First Property in Malaysia

5 Tips When Buying Your First Property in Malaysia


11 Jan 2024
5 Tips When Buying Your First Property in Malaysia
Buying your first property in Malaysia can be an exciting but complex process. Here are five tips to help guide you through the process:

Set a Realistic Budget:

Determine your budget by evaluating your financial situation, including your income, savings, and any existing debts. Consider additional costs such as legal fees, stamp duty, and renovation expenses.
Get pre-approved for a mortgage to understand the amount you can borrow. This will give you a clearer picture of the properties within your financial reach.

Research Locations:

Research different neighbourhoods to find one that suits your lifestyle and preferences. Consider factors like proximity to work, public transportation, amenities, and future development plans in the area.
Visit the neighbourhoods at different times of the day to get a sense of the environment and community.

Understand the Legal Process:

Familiarize yourself with the legal aspects of property buying in Malaysia. Consult with a qualified lawyer to guide you through the documentation and legal requirements.
Be aware of the stamp duty, transfer fees, and other costs associated with property transactions. Understanding these expenses will help you avoid any surprises during the buying process.

Engage a Qualified Real Estate Agent:

Work with a licensed and reputable real estate agent to help you find properties that meet your criteria. A professional agent can provide valuable insights into the market, negotiate on your behalf, and guide you through the paperwork.
Research and interview potential agents to ensure they have the necessary experience and knowledge of the local property market.

Inspect the Property:

I you plan to buy a subsales house, thoroughly inspect the property for any structural issues, damages, or maintenance requirements before making a purchase. Engage a qualified property inspector if needed.
Check the property's title and land status to ensure there are no legal complications. Verify the ownership details and confirm that the property adheres to local building codes and regulations.

Remember to take your time during the buying process, ask questions, and seek professional advice when needed. Purchasing a property is a significant investment, and being well-informed will help you make a sound decision.
Latest Posts
  • Sunsuria buys 20% stake in Kg Sungai Baru developer for RM10 mil, to inject RM40 mil to kick-start development

  • Projek Sunway Bayu catat jualan RM42 juta dalam masa sehari

  • LBS signs MoU for 10GW green hydrogen project in Sabah

  • Milla Residence sedia tempat letak kereta automatik canggih

  • RHB Research positive on Kerjaya Prospek citing robust job flow pipeline