By Viktor Chong email@example.com
WHILE price is usually the main component that distinguishes landed property from high-rise property, there are several other important factors to be considered when it comes to these two types of dwelling.
High-rise properties are always associated with maintenance fees because of facilities such as a gym, swimming pool, and state-of-the-art security system with guards on patrol.
The maintenance fees are to be paid by everyone living in the high-rise. Residents have to pay up even when they are not using the facilities.
A potential buyer looking to invest or live in a high-rise should consider the performance of the building management.
An incompetent management will drive the property price down and reduce the saleability of the unit. Even potential tenants will stay away.
Worse, the property owner is powerless to remove the management unless the majority of residents can be convinced into making a change.
For a landed property, maintenance of the premises is entirely borne by the owner unless the house is within a gated and guarded community.
The owner gets to determine what facilities he or she requires and pays only for the ones needed.
This also means that the proprietor will not be able to enjoy facilities such as a gym or a swimming pool.
Without shared resources from other residents, it is not feasible to maintain such amenities unless the owner has sufficient funds.
With a surplus of high-rise units and land being scarce, prices of landed properties are skyrocketing. Middle-income earners now find it hard to own landed properties.
Investors who are looking for capital appreciation should consider holding on to landed properties to make the most out of the situation.
High-rise units, on the other hand, experience a slower rise in value but are more economical as they usually demand a lower price.
Room with a view
Unless a landed property is overlooking a scenic beach, there isn’t much to offer from an aesthetic point of view.
Residents of high-rise properties, on the other hand, could have a bird’s eye view of the city below.
In a city that is filled with skyscrapers, high-rise units also enjoy better ventilation and lighting.
Owners of high-rise properties are often subject to more rules and regulations as the population density is higher.
For starters, most high-rise properties do not permit pets. Landed property owners are less susceptible to such rules.
They also have more leeway to renovate their property and add extensions.
As many Malaysians still rely on cars or motorcycles as the main mode of transport instead of public transportation, the parking space provided by landed properties offers a huge convenience.
High-rise apartments have limitations when it comes to the number of parking spots available.
Some residents may have to pay a premium to rent parking lots in the building or find a place outside to park their vehicles. However, landed properties have the same problem if the owner decides to buy more than two cars.
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