[Sponsored Post] Young, Growing and Multi-Generational Family in need of a Home Sweet Home. 8 Important Considerations.
People say, the nicest home is a home where the heart is. It’s that home sweet home we like to come back to every day. The smiling face of our partner and the hugs we get from our growing children. It’s that place we like to come home to after a vacation is over and we needed a rest before starting work.
These days, working from home is more of a norm versus uncommon for many of us. It’s also by far more common for a home to house a few different generations too. It may start with a newly married couple but it may soon be catering to new babies and their grandparents too. Thus, a home of today will have to cater to the different demands.
Gone were the days where buying things meant it is compulsory to drive out. 2G technology has been long forgotten and even 3G is no more. Today it’s the 5G rollout. Watching the latest movie may even be just a few clicks away. This is why a home is no longer just a property. It has to meet at least the 8 Important Considerations as below.
#1 Entry Price, Potential Price Appreciation and Inflation Matters
As someone who has been investing in properties and currently having access to private swimming pools in 6 cities / towns in Malaysia, let me share that the single most important factor for property investment is the entry price.
No, it’s not the location because if the location is great but we bought at the highest point for entry price, it will take a long time for the price to appreciate even higher that the highest point. However, any potential location with the right price is far more important instead.
If we entered at a price which is considered affordable, it also meant that there are more potential buyers in the future as the price have room to move upwards. This is why many of my purchases were into growing neighbourhoods versus fully mature areas without much further developments possible due to land scarcity.
Secondly, with inflation affecting all the cost of production including but not limited to land, construction materials and even manpower, it is inevitable that property prices will continue to move up with every passing year. Below shows the property price movement since the 1990s till recent times.
By the way, inflation is real and will always be around. That bowl of noodle which was RM3 many years ago could have doubled in price today. This is the same for land cost, construction material cost and even price of construction workers. All these would then push up the price which the developer could sell over the years.
#2 Developer matters a lot.
I have bought properties from established developers and I have bought properties from the secondary market as well. From the purchases, I do realize that buying from an established developer reduces the potential headaches we may have.
Let’s be real. It may not eliminate all the possibilities of poor workmanship and other problems but with an established developer, it’s much easier to deal with them for remedial actions should problems occur.
Many times, it’s very sad if the developer is nowhere to be found when we found problems with the property we bought. This happens by the way, if the developer is a small one and may not be developing homes as their main business.
One good indicator of an established developer would be publicly listed and showing profits even during these two years when we are affected by Covid-19 lockdowns. This tells us that the developer is well managed too. One such developer is Matrix Concepts Holdings Berhad. (click here to know them better)
Matrix Concepts Holdings Berhad was crowned Best Township Developer and received three special honours at the Asia Property Awards 2021. (Click here to view the Press Release which kopiandproperty.com is an official media partner)
Besides this Best Township Developer award, Matrix Concepts Holdings Berhad’s Group Managing Director, Ho Kong Soon was also awarded the 2021 Malaysia Real Estate Personality of the Year title.
Below shows why developments of today needs to be planned well. People need more than just more empty spaces.
#3 Size versus Distance is not just how far is it from the city centre
If we look at advanced property markets, the term suburb is a common theme. Suburb is defined by Oxford Languages as, “an outlying district of a city, especially a residential one.”
In Malaysia, we could see that people are no longer just staying within the city centre, especially growing families. Parents with a new baby would prefer more space, not just space within the home but also space outside the home. Walk out of the home and into wide lanes within the neighbourhood.
Instead of the usual 800, 900 or even 1,000 sq ft home in the sky, it’s possible to have a home on the ground with double the size if not more for the same price if one were to look further. Here’s one such potential home at Bayu Sutera within the Bandar Sri Sendayan. (click to know)
#4 Importance of Self-Sustaining townships
Township developments are not an easy development to do. It takes a developer who wishes to be in the home development business for a very long time to even think about township developments. It’s just not possible to finish a few hundred units and bid farewell.
This is the reason why many developers may prefer to just buy one small piece of land, build a few hundred units, sell it all, take the profits and then move on to the next project. In this way, the developer does not need to do long term planning of making a self-sustaining township comes to life. In fact, the development planning ends as soon as the construction begins.
This is why whenever I buy any property from a developer, I do check them out. It’s easy to do these days via the internet.
#5 Multi-Generational Needs
These days, it’s getting more common that homes would also need to cater to multi-generational needs. Kids may need some space to run around safely outside the home. A purpose-built playground versus just a grass field. The home may also come with bigger room for kids so that they could also have a desk and enough private space to do their homework versus doing it in the living room.
Parents who came to visit or stay for a while would also prefer to have some space to stroll in the morning or in the evenings. Some chairs to sit down along the jogging paths and perhaps greet some of the friendly faces.
They will also prefer a room on the ground floor with enough space versus having to climb the stair case every time. This is why some newer homes have a bigger room on the ground floor versus a small room for the maid like previously.
#6 Physical vs Online Norms
Covid-19 has indeed changed many things. Working from home is today more common than previously. Buying things online was already popular but has now become more common than dropping by the nearest mall every time we needed to buy something. Today we go to the mall to do things we could not do online. If it’s just to buy something we already know, buying it online is usually the choice.
Meanwhile, due to the flexibility to work from home, many developers have taken this into their consideration as well. For example a fully-equipped club house, incorporation of the need to work from home; dedicated space for the work station and even the availability of high speed broadband coverage right from the beginning. I still remember the days when newer areas usually have to wait for years for internet coverage. (Yes… I am not that young)
#7 Accessibility and Convenience
Actually, for this part, it’s best to look at the overview of what’s available versus writing in words. Generally, a good master-planned township should have sufficient accessibility to places one needs to go to.
It should also have all the conveniences for the owner and the loved ones. Whether it is an internationals school or entertainment and even malls, petrol stations and all the diversity of F&B outlets too. The below shows what the owners of Bayu Sutera would be enjoying access to currently. It’s growing too as this is part of the Bandar Sri Sendayan master-planned township.
#8 Future-Proofing property as an asset
Everytime someone asked me if property investment is the only investment I have because I am the founder of kopiandproperty.com, I would tell them that we must always diversify our investments and not put all our eggs in one basket.
However, when it comes to all investment choices, property investment is compulsory because we could decide to buy a good home sweet home, get a home loan and pay for it for the duration of the mortgage and stop paying after that duration or we could choose not to buy and keep paying rental forever and ever even if we have retired and income have stopped.
A good property will always be an asset. Happy understanding this fact even if investment diversification is always needed. If you love the images in this article, feel free to take a closer look at Bayu Sutera and ask them for more information. (here’s their website)
Note: All Images / Photos in this article is based on artist impression only