Oh yeah, move house need not be to buy a new house yeah. If we have retired and we are travelling around, there’s no need to own a home we are not staying in for most days in the whole month. Perhaps just rent a simple condo so that it’s easier to upkeep too. Sell our properties and use the money for our lifestyle then. Not meant as an advice, just for understanding yeah.
Here are 7 reasons to move house. Many of these reasons were also reasons I move. Let’s run through them yeah.
#1 – We are getting married (or divorced…)
You think I am joking? That’s a super valid reason yeah. Go and ask around, many first time home buyers were buying a home because now they have a combined income and they could afford to buy a home because each have to pay just 50%. Alone, one could only rent (maybe) but as a couple, we could now buy. Now couples could buy. Okay, this was the reason I bought my first property in Penang. A combined income usually meant we could buy a slightly better dream home too versus if we had to buy it when we were single.
Oh yeah, not many father-in-laws may like their daughters to get married to someone who will be renting a room or even an apartment. Yeah, this includes me when I become a potential father-in-law in another 20 years? Haha.
#2 – Upgrade
There are times when we come home and we realised that the 700 sq ft apartment we bought many years ago may no longer suffice. Our salaries have grown. We may want to buy a better place to live; upgrade. So, this is a a valid reason and is also one major reason why we have so many transactions. It’s not just for first-time home owners yeah.
This is also the reason why every time someone tells me about their dream home, I will tell them their perfect home dreams will keep changing over the years. I have moved 3 times.
#3 – Need more space
By the way, need more space does not mean buying a landed property versus a condominium yeah. These days, a condo may be bigger in usable sq ft than a landed property which kept getting smaller to keep prices low for the masses. So, when we need more space, we may want to move. For example, a baby’s arrival will definitely mean more rooms are needed. (baby and even parents who would want to visit and see the baby).
For example, when both have cars, then a high-rise unit with a single car park is no longer sufficient. We would need to find a place which allows 2 cars or more to be parked. By the way, if it’s a landed property, then a 18 x 65 is best only for one Segment D car and one Segment B car. If both are Segment D cars, then buying a 20 x 65 will be the BARE minimum…
If we have too many things we want to keep versus throwing away, then yeah we would need a bigger home too.
#4 – We found a better job elsewhere
It does not have to be moving to another state. If we used to work in KL city centre and we have a home in Cheras for example, we may want to move if we found a new job in Shah Alam… Just look at the google map for some ideas. Not many may want to spend over 2 hours just on driving everyday… If you give up the better paying job because you refused to move…
#5 New stage in life; post-retirement.
One day when both my kids move out, they will have their own adventure. I would love to visit them often but perhaps by then, I do not need to own a big house just for my wife and I. We may prefer travelling a bit more and thus may just need a simple condo which does not require high rental and I also do not wish to pay maintenance fees. So, I will rent at the time after selling my properties. By then, renting is certainly better than owning. That to me would be one of my reasons to move house.
#6 You found a MUST-BUY property
Everyday, you drive to your in-laws place for dinner. They help to take care of the kids. You love them and they love you. However, every day, sending the kids, having dinners and coming home etc will easily eat up 2 hours of productive time. Then, the neighbour of your in-law told you that they will be moving to another state and would like to sell their home. WOW. This is like winning a lottery right.
You were renting a home next to your best friend’s home. One day, your best friend told you that he’s going to work in China for a few years and would like to sell his property fast because his new job starts in a few weeks’ time. He is willing to sell it for 15 percent below the property market. You calculated and realised that paying the monthly mortgage would be lower than the rental because of this. WOW. Another one of reasons to move house. (next door…)
7. Trend / Lifestyle changes.
I used to run around the park near my home in Ipoh when I was younger. It was just a field with some swings. My kids may not enjoy such a simple field anymore. Their minimum requirement may be to play in the playground on some days, to ride the bicycle and play hide and seek with me on some days and to swim in the kids pool on some days.
Some working professionals may prefer to jog within a gated and guarded community for safety reasons. As for me, i would prefer a gated and guarded stratified development. I cannot stand someone painting their house in some extraordinary colours next to mine. I also could not stand someone renovating their home slowly over a 6-months period. So, people change and when they do, their need for a home changes too.
There are certainly more reasons to move house. It could even because of an investment opportunity. For example, a new university was built right next to your home. Now you could move elsewhere and rent out the rooms and earn high rental income. If there are any special reasons, please feel free to write to us yeah. We could tell your story to the world too.
Love to be updated on all investment news? Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)
Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.
Next suggested article: Renting can be a good option too
One Response