Your first home will likely be the single biggest purchase that you will make in this life and so it’s important that you get it right the first time. We all have a picture in our head about what our home should look like and so we begin our search in earnest. The unfortunate thing nowadays is that trying to get onto the first rung of the property ladder can be incredibly difficult as banks now require a significant deposit before they will even entertain your mortgage application.
The good news however is there are properties available in Alam Impian and not only do they look fantastic but they are incredibly affordable as well. It is important to know that you can afford a particular property because you don’t want to find something that is perfect and then your lender tells you that they can’t give you that amount of money. Get some kind of conditional offer from your lending institution before you start searching.
The following are just some of the things that you need to know about and to look out for when buying your first property here in Malaysia.
- Get your credit score – Before you do this, make sure that you pay off any credit card debt that you owe and any other money outstanding. Once you get those out of the way, you can get a better idea of what your credit score is and this can allow you to get better interest rates on your mortgage.
- Talk to an estate agent – It is true that you could walk up and down every street and avenue that there is in the area in pursuit of the perfect home but this could take forever and so it makes sense that you would turn to a local property estate agent in Alam Impian for their services. They will know the area extensively and so they will know what properties suit your current needs and your budget as well.
- Build up a significant deposit – Some people want to buy their first home after they get married but they find that they have spent all of the money on the ceremony and so there is nothing left to put down on a property. This is a big mistake, so maybe think about putting off your wedding party until you are able to put down a significant deposit on your new property. This will give you a much stronger start in your new life and it means that you don’t have to borrow as much money.
- Be aware of additional fees – It isn’t just your mortgage payments that you have to come up with at the end of every month because there are other fees involved as well. You will need to insure your property as well as insure yourself in case you lose your job.
Finding a good property in Alam Impian can be both exciting and nerve-racking at the same time, so take your time and try to choose wisely.
