The perfect property is gated and guarded, near work, and has good neighbours
A gated and guarded neighbourhood is important when defining the perfect property.
Least important factors were identity of developer and availability of broadband internet
According to a UK survey, the perfect property is two miles from a supermarket, ten miles from the coast and within walking distance of a pub where the landlord knows your name. How about for Malaysians? StarProperty.my recently conducted a survey to find out their top criteria when it came to choosing a property.
We gave respondents 16 criteria to rank in terms of importance. These included proximity to food and beverage options, parks, markets, good schools, family, institutions, leisure facilities, work, public transport and malls, being gated and guarded, as well as having a garden, at least two parking spaces and good neighbours.
Criterion 1: Gated and guarded
Top on the list for our Malaysian respondents was being in a gated and guarded community. Nearly half the respondents voted this as the most important feature in their dream property.
This can understandably be traced to the number of break-ins and robberies which has been increasing in certain areas, so much so that many homeowners have now installed alarm and security systems.
Somewhat reflecting these findings, the gated and guarded feature has increasingly been seen as a key selling point for many projects. Round-the-clock security patrols, single entry and exit points, closed-circuit televisions (CCTV) throughout the development, perimeter fencing around the development and access cards give homeowners peace of mind.
Criterion 2: Proximity to work
The factor voted as second most important, meanwhile, was a location that was near the workplace with “not much traffic jams in between”.
After all, most Malaysians spend more than two hours a day being stuck in traffic jams, one research paper has reported. And choosing a home near the work place not only saves time but also money and energy, while helping maintain the balance of work and social life.
The amount of time wasted on the road may after all be spent taking your children to the park, catching up with friends over dinner or working out at the gym.
Criterion 3: Friendly, good and trustworthy neighbours
The third most important factor that surprisingly ranked high among most respondents was having friendly and trustworthy neighbours.
Even though it is often said that many urban Malaysians today are not familiar with their neighbours, especially in condominiums, this criterion turned out to be very high in most Malaysian property hunters’ minds.
Of course, knowing your neighbours allows us to look out for one another in times of need. For example, if you know that Jason lives in house number 60, you would know if someone other than Jason and his family were loitering in front of his house.
Criterion 4: At least two parking spaces
The respondents also agreed that having at least two parking spaces was important. The issue of parking is commonly faced by many homeowners, especially when many households these days own more than one car.
Other important factors included living within 10 minutes’ walking distance to amenities such as banks and the post office, as well as to mini markets and convenience stores.
Two respondents Soong and Wong shared that they would prefer a property with wider roads. Another respondent, Hee said a well-maintained neighbourhood is important.
“Another factor that wasn’t in the list is to have clinics and hospitals nearby your house. This is quite important for me,” said Gayathri, 30.
Least important factors
Surprisingly, two factors that hardly scored with our respondents were the company that developed the property, and having a broadband internet connection within your development. Only 2% of the respondents selected these factors as one of the criteria to define their perfect property.
Source: StarProperty.my
What are the profiles of the respondents? Doubt the results of the least important factors.
But if it is too heavily guarded i.e. too much hassle, your relatives and friends won’t visit you!
I purchased a house back in Dec 2009 and applied loan from SC with BLR +1%. The price of the house alone was RM550,000, and the legal fees I had to pay the lawyer was almost RM10,000! Why is the price incredibly high? Is this the same as all of you who have purchased a house?
I am thinking to refinance it.. recently, company needs some money to order new stock.. any idea which bank offer BLR minus rate ?
Are you sure the refinancing will cover the penalty charges? Anyways, I do know that Public Bank is giving BLR-2.0% and CIMB is -2.2%. Others not so sure so you have to ask around.
May be u can try citibank. If im not wrong, the last time I checked, is BLR -2.5%, worth to consider la. Also I think they have RM10k cashback promotion oso. My brother briefly told me about it last week when he plan to buy a house, so i am not too sure the details.
Yes indeed the RM10k cashback is really tempting. From there, we can actually use the money to pay for penalty exit, legal fees etc. Heard from my colleague, Citibank only offered loans to certain location only… Any idea?
All banks of course are selective for location is quite normal la.. it involves big amount of money.. I am planning to use Citibank too to purchase my house. If you are interested but dunno If you will be accepted, you can use the online indicative approval tool to see if you qualify. https://www.citibank.com.my/english/promo/hl-10min-approval/index.html?icid=BN_HL_HM_10MinApproval_250313
You will get to know the status of your loan in 24 hours. But if you have time, I recommend you to go to the bank to ask out. It only takes 10 mins to know the result.
@kkong
As i mentioned before the background of developers do matter especially if it NEW project.
It is funny that, many people still stuck with the mindset that their house build by branded developer hence they should sell higher than others.
Any peculiar thing in Penang is that G&G are priced lower than individual title.
Hi CommonSense Buyer,
G&G in Penang is mostly strata titled, therefore in terms of land value, it should be lower than individual title as it is bound by all sorts of rules within that strata title project. Whereas for an individual title, you can practically knock down the house, re-submit your design to the council and rebuilt a new house with double the floor space.
You do have some G&G projects in Penang which carry individual titles. But they are generally “less guarded” than strata titled ones for the fact that individual titles mean roads within that area are not private property, therefore stopping strangers from going in is not possible.
actually what more are the cons of strata title? If the house itself is not bad, there’s no need to spend a fortune to break it or expand it I think.