Homebuyer perspectives: What are they looking for?

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Buying a new home without having to modify the layout is a benefit many seek.

Buying a new home without having to modify the layout is a benefit many seek.

Homebuyer perspectives: What are they looking for?

Even amidst rising inflation and increasing material costs, Malaysian youths are entering the real estate market with dreams of homeownership. Despite facing financial challenges, the younger generation remains determined to secure their own properties. However, the path to homeownership today is fraught with more obstacles than it was for previous generations.

The aftermath of the Covid-19 pandemic and ongoing geopolitical pressures have made homeownership significantly more challenging. For new home owners, many settle for what they can afford and later realise the shortcomings of their purchase.

For line producer Koh Xin Yu, she said: “I am satisfied with the property but to be honest we were frustrated with the condominium layout that always had a room without a window or a room that has a window facing the condominium corridor and we can’t get enough sunlight.”

It is widely accepted that sunlight can significantly influence one's mood, brightening the mornings and energising people for the day ahead.

It is not just about having the financial resources to purchase a property but also the additional costs of furnishing and designing a new home, which adds to the complexity of the endeavour.

“I recently purchased a condominium unit with three bedrooms and two toilets. So far, the renovation and layout is fairly practical and up to my satisfaction. However, if I were to nitpick, the modern unit layout designs should take into consideration space privacy. For example, I am not very fond of how I can directly see the unit toilet upon entering from the front door. Modern units would usually have a separate walkway leading towards the dining area or bedrooms for better privacy. I decided not to alter the unit layout due to increasing renovation and material costs, as I wish to not incur additional costs on hacking and renovation,” said business analyst Choo Jia Yuan.

Renovation wastes

Another writer Yusof highlighted that renovations not only place an additional burden on homebuyers but are also environmentally unfriendly. "Many younger buyers are more ecologically conscious, and having to tear down walls and add features to a brand-new home generates a lot of waste and contributes to carbon buildup. As a generation fighting against global warming, these renovation works do us a disservice. We strive for a healthy environment, yet simultaneously cause more damage with these modifications," he stated.

In response to these challenges, many new homeowners are prioritising practical and cost-effective solutions. While house-hunting, they are also focusing on functional layouts that minimise hassle and long-term maintenance. Rather than investing heavily in renovations, many are opting for lower-priced furnishings that still offer a degree of aesthetic appeal.

“Due to the current economic situation, our main priority was to focus on areas where we could save. For example, instead of hiring designers or opting for built-in furniture, my wife and I chose to look for cheaper furniture alternatives,” said Choo.

Sunlight can significantly influence one's mood, Koh said.

Sunlight can significantly influence one's mood, Koh said.

Lokman notes that the recent designs are increasingly investor-friendly while meeting the current market demands.

Lokman notes that the recent designs are increasingly investor-friendly while meeting the current market demands.

 

Personal spaces

Aesthetics remain a crucial consideration, even when working within a budget. Malaysian youths are resourceful, seeking out tasteful and affordable options to create homes that are both comfortable and visually pleasing. By making strategic choices in furnishings and decor, they manage to balance cost-efficiency with personal style.

Home buyers acknowledge that the pandemic has significantly altered their buying behaviour, with many now prioritising properties with green spaces for outdoor activities, escaping the confinement of four walls. Additionally, the continued prevalence of hybrid work systems, where employees split their time between the office and home, has driven up the demand for extra space to accommodate home offices.

As a result, the demand for bigger homes has seen a notable increase. “I want to make sure my home looks very spacious,” software developer Richmond Ng said.

“The recent designs are (also) becoming more investor friendly and at the same time suit the current needs of the market. I’m looking at three and two bedrooms,”  Property investor Lokman Rasid said.

For those with a tighter budget, they are opting to buy a temporary home first, viewing it as a stepping stone that provides them with an initial foothold in the property market while they save up and plan for their ideal, more permanent residence that better meets their long-term aspirations and financial goals.

Business analyst Luqman views his apartment as a stepping stone rather than a permanent home. He has carefully considered furnishing to balance functionality and cost-effectiveness. Despite this, the major expenses will be on furnishing and decor rather than structural changes, he pointed out.

The trend among new homeowners is clear - practicality and aesthetics must go hand in hand. This approach not only helps them manage their finances better but also allows them to create living spaces that reflect their tastes and lifestyles without breaking the bank. As the real estate market continues to recover, resourceful strategies will likely become more prevalent, shaping the future of homeownership in Malaysia.

Developing holistic homes

Since 1995, Gamuda Land has been developing holistic townships, ranging from Kota Kemuning and Valencia to Gamuda Gardens, Gamuda Cove and twentyfive7, creating living spaces with environmental sustainability and community at the heart of their operations. 

As a leading property developer, Gamuda Land develops homes tailored to Malaysians' needs, addressing evolving demands with innovative design and sustainable architecture. What elements do you consider important in your future home? Scan the QR code or click on this link (https://forms.office.com/r/Y4bX0xKB3E) and take the Gamuda Land survey to let us know how we can build better homes to suit your needs.

This article was brought to you by Gamuda Land.

This article was brought to you by Gamuda Land.


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