Shelter. A safe space. A place to call home. Your own little corner in this vast, unforgiving world. Everybody wants to have a place where they can let down their guard and just be themselves, right?
Whether it’s a bachelor pad you seek, or a home to raise your children in, buying a first house is an intimidating thought for most people. More so when you’re looking to buy a house in Kuala Lumpur or its surrounding areas. KL is home to the highest house prices in Malaysia, so who wouldn’t be concerned? How much do I need to buy affordable housing? Which home loan should I take? Bumi or non-bumi?
Bumiputera or non-bumiputera, you surely have many questions. We won’t be able to answer all in this one article, as the topic is too large, but we will tell you the places to look at if you’re seeking your first home in the Klang Valley.
Cheras is a suburb southeast of KL that is adjacent to both Ampang and Kajang. It is conveniently placed, as it provides easy access to KL, Kajang, the Middle Ring Road 2 (MRR2), Jalan Kuching, the Maju Expressway (MEX) and Jalan Mahameru just to name a few traffic arteries.
Here are some notable areas in Cheras:
1.1 Taman Segar Ria
Neighbouring areas: Bandar Sri Permaisuri, Ampang and Kajang.
Taman Segar Ria have variety of properties. For first-time homebuyers, low-cost apartments may be a suitable choice. In the current market, it is possible to negotiate for a more favourable price of around RM150,000, depending on the seller and the details of the property.
It’s also worth noting that with the MRT project slated for completion by 2017, house prices will increase, with low-cost apartments expected to be valued at around RM200,000 after completion of the MRT stations in Cheras.
Besides the soon-to-be-completed MRT stations, Taman Segar Ria is also located within easy reach of Leisure Segar Ria Mall, IKEA Cheras, downtown KL and Kajang.
1.2 Bandar Sri Permaisuri
Neighbouring areas: Taman Segar Ria, Ampang and KL.
The property types in this area are more limited, mostly condominiums and apartments. Sri Penara is a notable low-cost apartment in the area that could be of interest to first time homebuyers. Traffic here can be slightly congested.
The area has access to many amenities such as banks, shops, restaurants and public transport. Properties in Bandar Sri Permaisuri will also benefit from the soon-to-be-completed MRT project. Besides the MRT stations, Bandar Sri Permaisuri is also close to the Bandar Tun Razak, Cheras and Salak Selatan LRT stations.
Puchong is a major town in the Klang Valley. It is home to local and foreign banks, shopping malls and business centres that make it a bustling area that’s full of opportunities.
2.1 Bandar Puteri Puchong
Neighbouring areas: Damansara, Sri Kembangan, Serdang and The Mines, Petaling Jaya.
The low-cost apartments in Bandar Puteri Puchong are ideal for first-time homebuyers. With the extension of the Ampang Line LRT route slated to complete in the second quarter of 2016, residents of Puchong will be able to access the Starline LRT network via the soon-to-be-completed Puchong Jaya LRT station.
This area is also home to IOI Mall and AEON Big Puchong, as well as a variety of other amenities. The LDP provides access to KL and the Kesas highway, and new exits on the MEX highway provide easy access to Seri Kembangan, Serdang, Puchong as well as KLIA.
2.2 Bandar Kinrara Puchong
Neighbouring areas: Klang Lama, Bandar Puteri Puchong and Cheras.
Properties in Bandar Kinrara Puchong are mostly condominiums and apartments. It has access to the Federal Highway and Kesas, and shares many of the same benefits that Bandar Puteri Puchong enjoys.
This area is conveniently situated for people who work in Putrajaya, which is a 20-minute drive away. As such, it is highly recommended for government servants who work in Putrajaya.
3.0 Wangsa Maju
Neighbouring areas: Gombak, Ulu Kelang, Taman Melawati and Setiawangsa.
Wangsa Maju is a bustling township with easy access to the DUKE highway, MRR2, and the Ampang-Kuala Lumpur Elevated Highway (AKLEH). The things that are near a property can majorly affect its price. With an abundance of amenities and eateries along Jalan Genting Klang, Wangsa Maju is a great place for students and office workers.
Along Jalan Genting Klang, which runs through Wangsa Maju and Setapak, you can find Kolej Universiti Tunku Abdul Rahman (KUTAR), Hospital Columbia and Setapak Central (formerly known as Festival City Mall). Other shopping areas in the vicinity include AEON Big Wangsa Maju, Wangsa Walk and AEON Wangsa Maju (opposite Wangsa Maju LRT station).
In terms of public transport, the most notable access points are the Wangsa Maju and Taman Melati LRT stations, which fall under the Kelana Jaya line. The Wangsa Maju station is also a hub for many bus routes.
4.0 Sri Damansara & Damansara Damai
Neighbouring areas: Mutiara Damansara, Shah Alam and Sungai Buloh.
Sri Damansara and Damansara Damai are areas that are rife with development at the moment, with many condominiums being built. It is a good area with potential for capital appreciation due to the MRT project as well as its access to various areas like Sungai Buloh which is 10 minutes away, Shah Alam which is 15 minutes away, and Mutiara Damansara, which boasts shopping centres areas like IKEA, The Curve, and 1 Utama, which are also 15 minutes away.
It’s a buyer’s market now, so the question is: will 2016 be the year you buy your first home? We hope that this article has given you a good idea of the places in the Klang Valley that you should be looking at, and if you do manage to find a property that’s perfect for you, remember that Loanstreet is here to help you find the best loan for it too!
The information in this article was provided by Ricky Shahputra and Shamim Munizar, two licensed real estate negotiators who are well versed with properties in the Klang Valley.
This article is courtesy of Loanstreet.com.my, an independent loan comparison and application website that also offers personal financing tips. Visit the website to learn more about your current financing options.