Buying new property is not an easy feat, especially for first-time buyers. Ask any friend of yours and chances are that only a handful of them own a house or condominium unit.
Looking at the current real estate situation, experts have advised people to buying consider second-hand or secondary units instead because they are often sold at lower prices compared to new properties.
According to a Bernama report, property prices as a whole are increasing beyond what potential house buyers can actually afford.
At the moment, prospective buyers can get secondary units for as low as RM200,000 in Kuala Lumpur. Some property websites reportedly even advertise second-hand homes that are below RM200,000.
This is especially good for young adults who have just joined the workforce!
“For example, a secondary condominium unit in Bangsar is still sold between RM600 and RM1,000 per square foot (sq ft) in comparison with a newly-developed condominium unit that sells at RM1,500 to RM2,200 per sq ft,” real estate and investment writer Dr Azizul Azli Ahmad told Bernama.
Another good reason to buy a secondary or sub-sale home is that they are most likely ready-to-stay with facilities that already exist around the neighbourhood.
So maybe it's good to start driving through existing residential areas to look for houses for sale because you could be looking at your future home without digging too big of a hole in your wallet.