If you are thinking of buying a new house, you may already start to list down some property type that suits your needs. The vantage point might differ for everyone, which comes to the common arguments telling you a landed property is better than the high-rise.
The strong correlation between the house type and the location is undeniable. Statistic shows over 70% of young people aged 20-39 years old prefer to live nearby city which comprises the elements of living in the high-rise building.
Because of this common trend, it does not mean that you need to give up dreaming for a spacious landed house. Maybe a high-rise now and landed house 10 years later? Above all, if you belong to the young homebuyers and still torn between a high-rise or a landed house, let's take a look at on the important aspects behind choosing a high-rise house:
To be thrift is important but sometimes it can be very hard. Without you knowing, you could save more money in the running cost especially on the monthly installment by owning a high rise house.
Based on the data from CEIC, Malaysia's average house price for landed houses is reported at RM646,108 while high-rise is only at RM329,987. For a property house above RM600k, the monthly amount you need to pay would set around RM2,500 while for houses below RM400k, the least would be around RM1,700. On this, you cannot escape from paying at least RM2,500 monthly for a landed house!
Though living in a landed house would set your dream real but since monthly installment demands a long time liability from you, imagine if you need to bear an amount that adds up a bigger monthly commitment. Wouldn't that be a headache?
Another reason you should consider a high-rise house is due to the beauty of the location. The proximity to the city means that you can enjoy the vibrant and active living style. Not just that, you can surround yourself with the established amenities and easy access to your workplace with access to public transport is within reach. While talking about the closeness to the amenities, let’s not forget that high-rise building offers you a wide range of facilities, from the playground to the gym. You don't need to travel far to have an active lifestyle, just get in the lift and be on the expected floor. It's a convenient living for your whole family.
Let's move on to the enticing part where you will move to your dream landed home! You might worry about what would happen to your current high-rise house? But worry no more, a high-rise house has a better resale value.
Financial wise, you may doubt buying a high rise now but end up your house not being sold in the future. But just so you know, right before or after marriage is the highest peak of the property buying phase. This stage of life relates to the majority needs for a high-rise property near the city which leads to a better chance to resell your house. It is yet a stable investment for your long-term goal.
There are no exact answers to the best property type. It all depends on your lifestyle choice. If you prefer every Ringgit you save adds up while enjoying the vibrant life, you know a high-rise building would fit your current need, isn't it? After all, know what you need, and you'll be at peace of mind!