What Is Your Dream House?

Dreams are most often than not, unrealistic predictions of the future that people strive towards. As such, dream houses are usually not detailed depictions and are made up of vague descriptions. This is why more often than not; people who have found their dream house base their decision on instincts and gut feeling, a big no when it comes to property purchases.

Why Do People Buy House?

Ask any Malaysian you see on the street if they plan to own a house in the future and the answer you get is probably going to be a “yes”. To the typical Malaysian, becoming a house owner seems to be one of the few things in life that must happen sooner or later. Due to the multitude of property investment guidelines on the net, people are trying to own their first home as soon as possible. Although it is a good thing, the effects of social media have created unrealistic expectations for the younger generation, especially Gen-Y.

What makes a person decide to buy a home in the first place? Below we’ll take a look at the different types of people who purchase property and the reasons behind their actions.

• A family that plans to get a roof over their head. This could mean a young couple planning to start a family or a family hoping to move in to a good place, providing their children with more space and better education. Owning a physical structure generally creates a sense of safety and you are able to dictate how you want the place to be decorated based on your family’s needs.
• The person who feels that paying rent is a waste of resources. Paying rent is not a good investment. Why should you pay this amount to the landlord when you can use this money to build equity through purchasing a home? If you can afford it, why not buy it? (To see if you can afford to buy a property, read this “link to rent or buy guide”.)
• The person who just wants a place of his own. Apart from financial resources, you might simply want a place to call your own. Although you need a lot of time to pay off the mortgage, at the very least, as you retire, you will have a roof over your head. Home ownership also means that you are committed to the place, the neighbourhood, and it allows you to renovate and redecorate according to your will.
• The investor. Whether a first-time investment or an experienced investor, a lot of people purchase property with no intention of staying in it, not even for a day. It is common for Malaysians to purchase property as a pure investment as property is generally seen as a stable asset that appreciates at a steady pace.

Your Dream house

Purchasing your dream house means that you probably rank comfort and the aesthetics of the home very high. Just like going into a new relationship, the first impression could be misleading and once you actually move in, small issues suddenly magnify and become harder to ignore. The money required could also increase exponentially as a dream house is going to cost more to maintain and you most probably will not be trying to sell off your dream house anytime soon. Another big issue with getting your dream house is the fact that dreams are not constant and your dream at the age of 30 and 40 might differ greatly, reducing the satisfaction level brought by the house as years go by while yearning to achieve a different dream. Not that being ambitious isn’t nice, it’s just that it is better to be rational and think about the future when deciding on the purchase of your dream house.