Ah, the great debate when it comes to homeownership - should you buy a landed property or a high-rise property as your first home?
In a recent poll we did on our Instagram, we asked our followers which they preferred: Landed vs. High-Rise and the answer we got was pretty surprising. 56% of 554 participants said they preferred owning a landed property to a high-rise (44%)
So, today, let’s settle this debate once and for all. Here are the pros and cons of buying a landed property versus a high-rise property in Malaysia.
Landed Property in Malaysia
1. More Space
This is a no-brainer. Landed properties typically provide a generous amount of space. In fact, if you’re lucky, you might even score yourself a backyard!
This is particularly beneficial if you have a larger family, need more storage, or desire outdoor space for gardening, children's play, or pets.
2. Greater Privacy
If privacy is high on your list when considering your first home, a landed property might be the ideal choice. There are no shared floors or ceilings with neighbours, so your home life remains undisturbed.
3. Freedom to Renovate
Owning a landed property gives you the liberty to tailor it to your preferences.
You can add extensions, renovate, or modify the property layout without needing to comply with strict building management regulations. Oh, and you won’t have to worry about neighbours filing noise complaints during your renovation.
4. Long-Term Investment Potential
Whether landed or high-rise, properties will always appreciate in value over time. With that being said, landed properties definitely have a higher value than condominiums.
This is due to the combined value of the structure and the land it sits on, making it a potentially lucrative long-term investment should you choose to use it as an investment.
1. High Purchase and Maintenance Cost
The cost of buying a landed property can be considerably higher due to the price of land these days.
Additionally, the ongoing maintenance of the property, from the roof to the garden, can add up over time.
2. Higher Costs
Purchasing a landed property typically involves a higher upfront cost than buying an apartment for many reasons. The main one is the square footage and the land it sits upon.
Additionally, property taxes may also be higher for landed properties due to the larger land area. So, do expect a large downpayment before buying your dream home.
3. Longer Commutes
Landed properties are often found in suburban or semi-rural areas, which might require longer commutes to city centres or workplaces.
If not, your home won’t be as peaceful as you’d like it to be especially in the Petaling Jaya area. Think of SS2 or Bandar Utama which are surrounded by cars and busy highways.
High-Rise Property In Malaysia
1. Plentiful Amenities
High-rise properties often come with a range of amenities that may not be feasible in a standalone house.
These can include swimming pools, fitness centres, rooftop gardens, and communal lounges.
2. Lower Maintenance
Living in a high-rise means that many maintenance tasks, such as landscaping and common area upkeep, are handled by the building management.
This will definitely reduce the burden of maintenance on individual residents.
High-rise buildings often have advanced security features, such as surveillance cameras, access control systems, and on-site security personnel.
This can provide a sense of safety and peace of mind for residents.
High-rise properties are typically found in urban or city-centre locations, offering convenient access to workplaces, entertainment venues, restaurants, shopping centres, and public transportation.
This is also a good perk to have if you’re planning to one day, rent it out to tenants.
1. Limited Privacy
Living in close proximity to neighbours and sharing walls can lead to reduced privacy, especially in densely populated areas.
Noise from neighbouring units can also be a concern especially if you have a baby trying to fall asleep at night.
2. Space Constraints
High-rise apartments usually offer less interior space than landed properties.
This can be challenging if you have a large family or need additional rooms for specific purposes like a home office or a guest room.
3. Monthly Fees
Condominiums often have monthly maintenance fees.
While these fees cover the cost of amenities and shared services, they can add to the overall cost of ownership.
4. Resale Value
While high-rises may appreciate over time, their value might not increase as much as that of landed properties due to the limited availability of land in prime urban locations.
When it comes to deciding whether to buy a landed or high-rise property as your first home, it depends on various factors.
You’ll need to consider your lifestyle, budget, location preferences, family size, and long-term goals. You should also consider the property’s investment value should you one day decide to use it to earn passive income through rental.
Therefore, you’ll need to carefully consider these pros and cons to make an informed choice that best aligns with your needs and preferences. If you’re planning to buy a house with your partner, you’ll certainly need to have a serious conversation with them.
Remember, buying a home is a huge commitment and a substantial investment. So, take your time, weigh all the pros and cons, and perhaps seek professional advice. Whether you go for a sprawling landed property or a chic high-rise condominium, the important thing is finding a place you can truly call home.