Based on the research from REHDA(Malaysia Real Estate Club), terraced house is the type of house that Malaysian like the most especially double or triple story house.
Here are the few reasons why it’s worth to buy a standalone house, instead of a condo:
1. High-value growth potential
There’s a logical situation going on: the population of Malaysia is increasing continuously, so the land resources are also considerably reducing. We’re going through “apartment” trend, and there are more and more condos being constructed in Malaysia. All this leads to the situation where there’s lesser land to build a terraced house, and more and more land is acquired by the developers . Even though terraced houses don’t offer as many facilities as the condominium, the whole value of a house has a potential to grow faster than any high-rise.
Since the demand for any property in the market is high, you can’t neglect the potential future prices of a terraced house and the land they’re situated on.
If you have zero experience purchasing a property, terraced house is your best choice!
2. No facility fees and maintenance fees
Normally there are no extra facilities in terraced houses (swimming pool, gym room, lift). Vice versa, the owners of terraced houses don’t have to pay the facility fees or maintenance fees.
The truth is, most of the condo tenants in Malaysia don’t use the facilities much – only from time to time. But they still have to pay the fees!
The only possible service you might need to pay for if you own a house, is a security service fee. Still, it’s quite a good deal!
3. Spacious place
This goes without saying: if you have kids, or plan to have children in the near future, a house is a perfect idea.
Terraced house is spacious – especially if you’re thinking about a corner house, which has a huge garden area attached. You can plan to have a playground, veggie garden and a relaxation spot – something you would never get in a condo!
4. You can renovate or expand the house based on your preference
All the tenants of the condominium have to follow the internal rules and contract constraints of the building. Depending on the building management, they might be more or less strict – but what they have in common is, you generally can’t do big renovations or area expansions without the permit.
Terraced house tenants just have to get the permission from the local government. As long as the request matches the standard guide, the work can easily get accepted and developed.
The terraced house normally has a spacious personal parking. Absolutely necessary if you have more than 1 car, and almost impossible to get, if you stay in a condo.
If you stay in a landed house, not only can you park in the parking lot – you can also utilize the space around the house. You can also avoid the traffic jam that happens almost every day during peak hours in the condo’s parking lot. A couple of minutes less in a traffic every day = a total of couple of hours in a year!
6. Escape from the crowd
Compared to apartments and condominiums, the population of terraced house is extremely small – usually it’s just 1 family. Speaking straight – residents of a terraced house enjoy a more comfortable and spacious living environment.