With rising costs of living and the uncertain job market, many Malaysians are being extra cautious when it comes to major purchasing decisions, especially for property.
Having said so, it’s definitely a good idea to make realistic decisions when taking out a home loan. We must ensure that our salary can comfortably cover the property’s monthly repayments, with enough left over for other commitments, day-to-day expenses, and emergencies.
However, an overly conservative approach to one’s finances usually means buying a smaller property first, with plans to upgrade later on; even if one can technically afford a larger one now.
As with all major decisions, there are pros and cons to this approach. When considering the long term, there are actually several compelling reasons why you should consider a bigger property sooner, rather than later (pssst – it could even save you more money in the long run!).
Our expert opinion here at PropertyGuru is that, if you have the cash to spare, bigger is always better!
1) Accounting for Lifestyle Transitions
The number one reason people choose to trade up for a larger home is a major change in their life circumstances.
A single person used to the “bachelor pad” lifestyle may find that their studio just won’t cut it anymore now that marriage is on the cards. A young couple excited about their first child may suddenly realise that their two-bedroom apartment is not very child-friendly at all. And families with ageing parents will find the transition to multigenerational living especially challenging in a basic link house.
Change is indeed a part of life. However, these (usually joyful and welcome) changes, often come alongside added financial burdens. Things like weddings, a new child, and additional caregiving responsibilities are generally a huge shock to any carefully planned budget.
When faced with these changes, we would happily do without the added mental and financial pressure of quickly finding a larger and more suitable space. And let’s be honest, who wants to go through the tedious process of moving homes multiple times, especially when there is, say, a new baby or a dear old grandparent involved, right?
Starting out with a larger property will help to avert this! While condo living may be all the rage right now, it’s always best to go with a landed property instead of a high-rise. Landed homes are generally larger, with easy access to lifestyle amenities for all generations.
The Lakefield Residences in Tropicana Heights, Kajang consists of an idyllic cluster of 66 superlink homes designed for any and all living arrangements. These two- and three-storey homes are generously proportioned, with built-up areas ranging from 2,361 sq ft to 3,730 sq ft.
Each home is designed with a large ground-floor bedroom, perfect for elderly parents or as a safe and secure nursery for the little one.
As its name tastefully suggests, these supersized homes are situated adjacent to a verdant 16-acre central park, which features a majestic 750-metre linear lake as its centrepiece and a 2-acre recreational park.
There is also a private Community Park set just within this exclusive cluster. Here, young and old can stay healthy and active with a playground, outdoor gym, and reflexology path. A tree and herb garden, gazebo, and benches are also perfect for small gatherings and community activities.
Lakefield Residences at Tropicana Heights are strategically located close to all important amenities. Various commercial hubs, including Mydin and Econsave, are less than 5 kilometres away.
For those with children in mind, an array of private, public and international, primary, secondary, and tertiary educational institutions are all within easy reach. Those with health concerns will find comfort in the two medical centres, KPJ and Kajang Hospital, located within a 4-kilometre drive.
2) Flexibility + Functionality = Productivity
While we’re on the topic of evolving life circumstances, one of the major shifts that we have seen in recent times, not least due to the current pandemic, is the change in work and study arrangements.
Now more than ever, families are spending more and more time at home, for better or for worse. With students following their classes online and adults working from home, privacy and flexible spaces become a precious commodity at home.
As much as we love our family, things can get pretty heated up when everyone is jostling for the best spot in the house to set up their workstation.
The homes at the Lakefield Residences have been designed with flexibility and privacy in mind. Each room is large, well-lit, and airy enough to serve either the dual function of bedroom-and-study or converted completely into a home office. And since each room comes with its own bathroom, you definitely won’t be getting in anyone’s way!
The three-storey units, which feature two rooms at the very top, are especially suited for maximum productivity. Just imagine: a quiet, private nook right at the top of the house that can be lovingly recreated into a library, rec room, or study!
Ample space for everyone in the family to thrive in their own pursuits is the perfect recipe for a peaceful and supportive home life.
3) Cashing in on Passive Income
We promised that a larger property could save you money, and we didn’t lie! This can seem counterintuitive, what with the higher monthly instalments and the bigger utility bills, but trust us, your finances will thank you in the long run.
Even though you’ll need to commit more towards instalments, think about it this way: you’ll be contributing to your own net worth. Hey, that’s less money left over every month for impulse buys!
Indeed, staying put at one place will always work out to be cheaper than progressively moving into larger and larger houses. Other than saving on moving costs and renovations, you’ll also be able to avoid paying for Sales and Purchase Agreements, stamp duties, and other fees multiple times!
And of course, a larger home will more likely enjoy a higher capital appreciation over time. That dream home of yours will definitely cost more in ten years’ time than today.
Speaking of dream homes, it doesn’t get much better than the Lakefield Residences.
Its strategic location in the established township of Kajang, well-connected both by road (including the SILK, LEKAS, and SKVE highways) and rail (KTM and MRT) to Bandar Baru Bangi, Putrajaya, Cyberjaya, KLCC, and KLIA, practically guarantees healthy capital appreciation.
Furthermore, as a Tropicana project, the developer’s solid track record for quality housing that can stand the test of time will ensure that demand for homes in this area will continue to be high.
If you find yourself with an extra bedroom (or two), there’s always the option of subletting this spare space to a long-term tenant. The rental will supplement your instalments, and as soon as you need more space, you can easily terminate any of these arrangements.
The well-designed superlinks at Lakefield Residences are especially suitable for this. The large bedroom at the back of the house has easy access to the kitchen and thus can be easily converted into a rental. Alternatively, the third storey of the larger homes could be made to be completely self-contained too.
Find Your Forever Home at Tropicana Heights
So, what are you waiting for? If you have the earning power to finance a larger property, you’d be hard-pressed to find anything better than a superlink home at Lakefield Residences, Tropicana Heights!
Lakefield Residences is the final phase of freehold link villas in Tropicana Heights, and is due to be completed in 2021. This is your last chance to grab a Tropicana Heights address, as all other landed homes phases are already sold out.
What’s more, Tropicana is currently having an attractive financing package in conjunction with the Malaysian Government’s Home Ownership Campaign (HOC). Under these campaigns, you can secure a unit for RM1,000 only, 100% financing, hassle-free as well as free Memorandum of Transfer!
Call 1700 81 9566 or visit tropicanaheights.com today!
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