1: Be aware of policy changes and tap into these changes. Like many inexperienced investors when he first begun, Lim learned the need to understand the policies the hard way. He made the mistake of not researching properly on the BLR policy and ended up with a huge debt burden, it was only after he studied the BLR policy in depth that he decided to restructure his finances, and saved nearly RM 300,000 as a result.
2: Save time and money with promotion package. Developers have over the years come out with various different offers to attract buyers. While there is little doubt that these “freebies” are taken into consideration when setting the selling price, one cannot deny that these packages can indeed lower the entry bar, particularly for first time buyers.
3: “Race” the developer to make payment. Developers typically require payment according to the percentage completion within the 3 to 4 years required to build. This means it is possible to estimate the amount of money one would need to pay the developer at each phase, and try to save up to meet the repayment schedule. This will not only help achieve massive savings as loans are taken as late as possible, but also increases loan approval rate as the margin of borrowing is now greatly reduced.
4: Choosea quality developer. There is a reason why some developers grow stronger and others fade into obscurity. A renowned developer will most likely have the experience and means to provide high quality properties which reduces the risks of purchase.
5: Interact on social media. We live in an era of ubiquitous social media. Why not make the best use of these platforms to look for like-minded people or those who have bought the same development as you? Bringing people closer together means that individual property owners now gain a bigger leverage to hold discussions with developers.
6: New launches for greater and faster capital appreciation. There is little contest that new launches tend to see the largest degree of capital appreciation and it would be good to look into new launches for better gains as well as to “race” the developer.