Image source Zricks
- Our idea of a dream home is often defined and viewed differently by many of us.
- Regardless of what your perception is of such property, factors like location, your chosen developer, and your house’s finishes should be taken seriously during the planning process.
- If you’re thinking of embarking on your own journey of building your own dream home, my advice is to choose the right location, stick to your budget, and engage with the right real estate agent.
When you utter the term “luxury home,” everyone has a unique perspective that comes to mind – regardless if it is attainable or not.
For some, it could be a KLCC penthouse with all the amenities or a 10-bedroom Bangsar estate with greenery and an Olympic-sized pool.
Whatever it is, owning exclusive dream properties has become one of those personal accomplishments that are at the top of nearly everyone’s bucket list. Whether you prefer a modernised metropolitan loft or a picturesque suburban home with a white picket fence, most of us hope to find a home that feels tailored to our family.
Clarifying the meaning of luxury
Let’s just make one thing clear – you do not need to burn a hole in your pocket when purchasing your dream home, and what we consider as “exclusive” may differ from one person to another. It is subjective but essentially, what sets a luxury property apart from other types of properties is the level of comfort, privacy, and security that are often almost flawless.
Dream homes are often customizable, and to me, I often fantasize for a property that comes with a big space and a large garden. Enough to relax with friends and family because I love a good ol’ weekend spent at the garden devouring perfectly cooked barbecued meats. However, I believe that the amenities and advanced technologies that come with premier homes are the sole reason for wanting one.
Important factors to consider before buying your dream house
Within the spectrum of extravagance, there are still varying opinions of what a buyer looks for when buying a property that exudes richness. Some see luxury as having a large mansion with a large garden; while some may envision a resort-like feel with spectacular views overlooking the horizon.
But the bottom line is, you really need to consider these factors before you decide on putting a down payment.
1. Location
The crown jewel of homeownership is location. Regardless of your social status, everyone yearns for their own piece of paradise. But when it comes to opulent living, an expansive, private, tree-lined property that keeps prying eyes at bay is a must. To give you an idea, the prime location for those looking for a luxury real estate, start exploring neighborhoods such as Bukit Tunku, Kenny Hills, Bangsar, Mont Kiara, and Desa Park City as these are where the exclusive and high-end properties are located at.
2. Who is the developer?
Purchasing a home is a significant decision that necessitates careful consideration of numerous factors. One of these factors is the brand from which you purchase a home. When you start looking for properties, you can first see what these well-known brands have to offer. A reputable real estate developer can also serve as a measure of the property’s value and you can be certain of the quality and finishes would be on par with what a luxury property entails.
This can also be beneficial when you wish to sell your property. The reason being, if you decide to sell your property in the future, your home can fetch a higher price if it has the signature of the acclaimed architect along with the landscaper.
3. Aesthetically pleasing finished
Distinguished your home from the norms by incorporating lavish interiors inspired by international architectures, famous monuments, and trending decor styles. At the end of the day, the ultra-modern lifestyle of the people who live in these luxurious homes is an appealing aspect of purchasing these elite homes.
Everything from remote control window shutters to electronic security systems contributes to the lifestyle and comfort that most people seek. Yes – everything from your bathroom to your living room has to have what I call a “WOW” factor.
As a developer, these are my advices:
1. Engage the services of a qualified real estate agent
Once you are ready to go through the whole process of finding your property, remember to make due diligence as your top priority. While hiring an agent is great, as an owner, you should come in with the basic knowledge of what to look out for when choosing your perfect house.
Paying attention to important details like structural damage and finding out if there are any upcoming developments because not all developments are good, so being aware, gives you leverage over what some of the agents might not want to talk about. If it is necessary and for your peace of mind, hiring a specialist to conduct a thorough check for your future house is also encouraged.
2. Work within your budget
The cost of purchasing the home of your dreams is substantial. As a result, you will want to ensure that you cover all of your bases when it comes to all financial matters. Fret not, because a good realtor should be able to assist you in sticking to a reasonable budget. A dependable realtor who is concerned with your best interests rather than their own financial statements will assist you in carrying out the plan you devised early on.
3. Location, location, location
While it is important to live in a proper neighborhood, it is equally crucial for you to think of factors like if you want to be close to a specific landmark, or perhaps for you, it’s an utmost importance to stay close to your family.
Aside from that, choosing a prime location will also benefit you in the long run as the value of your investment is inextricably tied to the location’s well-being, so learn everything you can about it. Besides conducting a thorough market analysis of nearby activity, if possible, obtain a comparable market analysis of similarly priced homes with comparable features.
Don’t be afraid of being too vocal. Ask as many questions as possible. Leave no room for doubts and watch you thanking yourself for not doing so.
Closing thoughts
Take your time and don’t rush into a decision. We don’t buy things with money, we buy them with the hour of our lives, so never get tempted into buying the best house in the neighbourhood. It will inevitably lead to a lower Return of Investment (ROI), so I would advise you to leave some room for growth in the market.
Educating yourself on the purchasing process of real estate, recognising local neighbourhood trends, and knowing exactly what you’re looking for will help narrow down your best forever home options.
Lastly, it is important to note your choice of property should be an extension of you and encompass all aspects of the things that you love. Be it a vintage car collector, or an art collector, whatever your taste or goals are, your potential home should provide for them.
Jonah Sia is a Property Developer & Entrepreneur based in Johor and actively manages multiple businesses from hospitality to fitness. The views expressed here are the writer’s own.
