Who said that property investment is only made for property tycoons and multi-millionaire? In fact, it is not entirely true. With a little capital, some know-how, and numerous research, even you could start your own small property empire and invest in Mah Sing Share price.
Whether you are aiming high and dreaming of becoming a major property player, or you simply want multiple passive income streams, property investment is not as scary or complicated as it seems if you are willing to learn.
Check out the top 3 tips for property for investment in Malaysia that you will help you get started!
1. Location Does Matter
As the first homebuyer in Malaysia, the first and foremost factor that should consider is the location of your property! That goes without saying that a piece of real estate is stationary. Buying the property isn’t going to stand up and move to a better area overnight.
Thus, the location of your property is vital as it makes a massive impact on its price and its potential growth in the future.
So, how are you going to indicate whether the location of the property is in the strategic location? Well, to put it simply; is it an excellent place to live or work at? Think about convenience.
Is your property within the easy reach of public transport and amenities? Is there any LRT station nearby? Are there any hospitals or universities in the vicinity? You should consider all of these factors prior to as it determines the price of your house and how much you can charge for rent.
2. Hire a Good Real Estate Agent
If you don’t have much knowledge and know-how about top developers companies in Malaysia, hiring a good real estate would be a great help. You should never ever underestimate the capability of a real estate agent.
The right agent could work wonders for you and help you to take off the burden off your shoulders. What a property agent could offer is the professional expertise and contacts that you might lack. They help you to ease the process and also potentially sell or rent out your property faster than you can.
If you are house-hunting for affordable homes in Malaysia, a good agent could lend a hand in finding the ideal properties baes on your stated needs. They also could bargain with you and help with the negotiation process for a much favourable price.
3. Research & Compare for the Best Loan
Nonetheless, properties are considered illiquid assets, as such, it might not be a good idea to tie up all of your money in them. The process of selling a piece of property could take anywhere up from 6 months to a year or more. At worst, you might not be able to get the price out of it.
Therefore, it is crucial to educate yourself about the various home mortgage loan in Malaysia so that you could find the one that suits you the best. Learn more about the different interest rates, prepayment penalties and settlement cost that different banks offer.
Check out how much income you could expect to get and compare it with the amount that you to pay monthly. Your instalment should be around 60% of your rental income. Thus, you still could make the profit and also cover the cost of maintaining the property.