While property investment is one of the best decisions you can make in life, it can put a serious dent to your bank account. Why not try to milk it a little bit more by getting the best deals?
It’s true, Malaysians love freebies and discounts as much as they love food. Do a quick search on Google, you’ll find endless searches on ‘property rebate in Malaysia’, ‘cashback property deals’ and many more of the like.
While we are on a constant lookout for the best discounts that could instantly lessen the down payment burden, there are other types of deals that can help you save real money instantly as well as in the long run.
1. Free legal fees
Dealing with the ins and outs of a legal contract like a Sales and Purchase Agreement (SPA) can be a bit of a headache for regular home buyers, which is why it’s best for you to hire a lawyer to guide you through the process. However, sourcing your own legal counsel can be quite costly, adding to the already significant investment you’re putting down for the property.
One of the options you can look out for in this case would be offers from developers, especially when buying new properties. Often, developers will arrange to have legal counsel as part of a ‘package’ at no extra cost to you, the buyer.
If you see a handy offer like this, it’s wise to make the most of it as it will save you a lot of extra cash that you can otherwise use to spruce up the interior of your newly acquired property.
2. Additional parking bays
In Sarawak, public transports is totally - DOOM! So extra parking is top priority when purchase high rise building. This is especially relevant if you’re buying a unit in a condominium, apartment or other properties with dedicated parking bays. Often, these will come with at least one parking bay per unit. In some cases, more than one. If there are additional parking bays on offer, it’s worth snatching them up as these can be rented out by the owners – think of it as a small source of passive income.
Alternatively, you can also look out for developers that sell parking bays as individual parcels, not connected to a unit. Again, you can rent the space out if you feel like it or you could even opt to sell the parking bay separately without selling your residential or commercial unit.
It’s like having two separate pieces of property – the unit and the parking bay. Both are investments for your future whether you decide to sell or rent them out, as a pair or separately.
3. Buy semi-furnished units (upon vacant possession)
These days, developers offer new properties complete with more than just the basic fixtures and fittings like lighting, air conditioning, bathroom fixtures, and even cabinets and kitchen appliances.
Purchasing a property with ready-to-go fixtures will be a huge help in preventing you from exceeding your renovation budget. You’ll be surprised at just how easily a RM40,000 budget to fill your new home can balloon up to RM100,000. That’s an extra RM60,000 worth of stress that is very much avoidable.
Once you get vacant possession of your new property, make sure to head over and check that all the proffered fixtures and fittings are present, accounted for, and in good working order. After that, you can do the math on how much you need to fill the extras that you want and revel in the amount of money you’ve just saved yourself.
You might wonder why developers would be so generous as to include fixtures like cabinets and kitchen appliances when selling property. Ultimately, a happy purchaser makes a happy developer. When the developer makes it easier for you by including fixtures and fittings, it greatly benefits both developer and buyer. Satisfaction all around!
4. Take advantage of developers’ sales campaigns
In order to maximize your purchase, you need to keep your eyes peeled and jump on any opportunities on offer. With so many new properties in the works, developers are doing all they can to entice buyers – which is great news for you, the buyer. This means that sales campaigns by developers are usually filled with extremely attractive offers and deals that you won’t want to miss.