Today’s article features parts from our partners at PropertyReviews.my – which is NECarbonChallenge’s representative in Malaysia.
Everyone has a dream house. I, as a kid growing up in the streets of Selangor, Malaysia, want a lanai that goes straight out of my dining hall, and floor-to-ceiling windows and a huge library and reading nook behind my walk-in closet. The problem is, this house only exists in my imagination and not in the houses that are up for sale anywhere. An apartment which would be ideal for me would be one at the Kuala Lumpur City Centre (KLCC), but that would be a little out of my league in terms of affordability. 🙁
This is the reason why some people consider building their own home over buying a pre-built one. But would it be a better choice? Which will make a more practical move, economically, especially in Malaysia?
Let’s look at the pros and cons of building your own home:
The biggest advantage to building your own home, and quite frankly the foremost reason why homeowners decide to take this challenging step is getting a home that is fully, truly yours – built how you want it.
You would not have to complain about your kitchen bar being too off-center or having too much space used on your kitchen, or the windows being too small for your taste. Oh, you would not have neighbors living in the exact same looking home too. 🙂
Building your own home also gives you the freedom and the privilege to choose the exact materials that you want to see in your house. Houses in the Petaling Jaya district, for one, have spacious homes and lots that you can definitely utilize. You would not have to worry over having to change anything to match your preferences. Now things will be different if you are in a rather cramped property development such as Mont Kiara or Ampang, for example.
And then of course there’s that sense of personal gratification over seeing your home built from scratch. It’s your dream home and you’ve seen how it came to be, that much of a satisfaction is priceless – and something you can never achieve with a pre-built home. This point is driven home in one of Trulia’s blog post which can be found here.
There are, on the other hand, some Malaysian developers (particularly those in the greater Kuala Lumpur area) which give a lot of customization options to buyers (reputable developers such as Glomac and Mah Sing come to mind), and so there is a middle ground. Condominiums such as Troika (in KLCC) are flexible to some extent when it comes to customization options.
Also, having your own design means that it’s easier to take our Carbon Challenge!
However, the biggest disadvantage to building a house is that it is generally more expensive as opposed to buying a home. Mortgage lenders in Malaysia typically do not easily grant construction loan so it may take a bit of time to get the financing on it started. That is, unless of course, if you are not going to pay with cash.
Also, building your own home takes a lot of time. Whilst you only have to drive up to your pre-built home on moving day, construction of a new house may take months and sometimes even years to finish. Plus you would have to work as much as the weather permits you. Weather disturbances can disrupt your construction progress way more than you can imagine. This is especially true in the context of the unpredictable Malaysian weather. 🙂
During this downtime, you will have to settle down somewhere else if you do no longer have your old home. Renting a place during the construction will cost you both the rent and the ongoing construction costs. Property hunting in Malaysia can be daunting, but at the advent of online property research tools (such as PropertyReviews.my) things are indeed easier now than, say, three years ago.
Choosing the right materials to go in your home could also be time consuming. Unless you leave it all to your builder – which practically defeats the purpose of building the house according to your preferences – you will have to go through the process with your engineer/contractor. It is only fun in the beginning, trust me. I speak from experience! 🙂
Then again, having your own home according to how you dreamed your home to be is a satisfaction that is beyond compare and beyond measure. You just have to decide whether or not all the hassle is worth it. Not many Malaysians build their own homes, but those who do will reap the rewards.
Finally, we do have some workshops lined up in 2013 for those who are interested in building their own homes. Click here for more information.
Resources mentioned in this article –
- Address: H-08, Setiawalk, Pusat Bandar Puchong, 47100 Selangor, Malaysia.
- Telephone: 013-3540586
- Email: email@example.com