In recent years, Real Estate has been one of the juiciest topics buzzing around the world of investment. And for many reasons, more and more people are taking a keen interest in property for sale in Malaysia. If you are wondering why a lot of individuals are frantic about investing in property, then you need to note that real estate is one of the few long-term investment options that are always on an upward trend in terms of value. Every year, property value goes up by impressive percentages making real estate a lucrative venture for both new and expert investors.
Unfortunately, if you are new to the property market, you may experience some difficulty learning the ins and outs of this venture. In fact, most people often find themselves asking, “Should I buy a newly launched property or a property with code compliance certificates (CCC)?” Without proper knowledge about real estate, this can be a tricky question. That’s because both options have their advantages and disadvantages; which means one of the options might work better for you than the other. For you to know which one would be best for you, there are a couple of things you need to know first. Below is a detailed review of both types of properties, their features, pros, and cons:
Code Compliance Certificates (CCC) Properties and Newly Launched Properties: What are they?
New Launched Properties
In real estate, newly launched properties are usually defined as properties sold prior to their completion. What this means is that the buyer pays for a piece of property that has not been constructed and is not ready for occupation. The whole process involves the signing of an agreement between the buyer and the property developer granting the client ownership of the property once it is complete and ready for use. During such arrangements, the buyer is offered the floor plan to help them visualize how the property will look like once complete.
Nowadays, people invest in newly launched properties because they do not require a significant investment. This is usually ideal for those looking to buy the property as a form of investment instead of a personal living space. In a sense, many might agree with the fact that these types of are easy to acquire because not only do they require little introductory costs but also they offer the buyer a flexible payment arrangement giving them enough time to get the remaining funds without hassles. This means that you may be able to purchase such properties while comfortably handling your other day to day bills.
The best features of new launched properties
As mentioned above, the capital or introductory price is usually very low giving even average income earners the opportunity to own such a property. What’s more, the payment structure is spread out to ensure the buyer does not experience financial strain during the process of property acquisitions.
Another impressive feature about a new launched property for sale is the fact that it offers the buyer a chance to customize the space into something they like. This means that you can add or remove things as per your preference. Also, seeing as the piece of property is yet to be developed, the buyer often has more choices to choose from including some of the prime spots of the property.
When buying a new launched property, it is much easier to get great discounts especially if you are willing enough to pay the amount in full. This means that you actually get to save some bucks in the process and you may end up paying very little for property that may be worth a lot in a few years time.
Best For Investment
if you are looking for investment properties that you can lease or rent out, then new launched properties might be your best option. That’s because they cost less and often require buyers who are not in a hurry to occupy them. Buyers urgently looking for a home might end up feeling frustrated in case the project takes longer to complete.
- They do not require a lot of cash to acquire.
- Always come with a flexible and well-spread payment structure.
- The buyer has a lot of choices to choose from including prime spots.
- It offers awesome discount opportunities
- Buyer has to wait for couple of years
- The project may fail to be completed or take longer than estimated.
- The buyer’s financial status may change making it hard for them to complete their installments.
- Sometimes the finished unit may not be as you had envisioned it.
Code Compliance Certificates (CCC) Properties
On the hand, real estate buyers can settle for a CCC property for sale. A CCC property is the best options available for buyers who are looking for a home to live in and occupy immediately. Although, you should note that these types of properties often cost a lot as a result of property value appreciation as well as the fact that the unit is finished and ready for use.
Similar to paying for a new launched property, the payment of a CCC property can be broken down into several installments. The only distinction is the fact that CCC have shorter payment durations than Subsale properties. Also, since you are already looking at the final form of the property, you will be able to identify what form of advantages and disadvantages you will get from buying the property.
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The Best Features of CCC Properties
Ready For Occupation
These types of properties are usually completed with a peace of mind since they have acquired a Certificate for completion, meaning that the owner can move in immediately after closing the sale. This makes it an awesome choice for those looking for new living space urgently.
No Wait Time
– Unlike new launched properties, these properties are usually complete meaning that the buyer won’t have to wait before they start using the unit. In fact, if you were planning on renting out the property, you can start earning from it immediately after purchase if you get a tenant.
You’ll Know What You’re Buying Before Signing Off on The Cheque –
the buyer normally has the opportunity to inspect the unit to ensure that it is well-built, flawless and worth every penny. This means that they’ll know what they are buying prior to the purchase leaving out no room for regret or second thoughts.
- They are always ready for occupation.
- There’s no wait time; It’s a “buy and use” type of deal.
- Can be a profitable investment since the buyer will have a clue about the property trends in the area.
- The buyer does not need to worry themselves about the issues that came up during construction.
- The buyer does not need to worry about unfinished or delayed development projects.
- They are very expensive to acquire.
- They have shorter payment durations.
- The buyer is limited in terms of choice.
As you can see both types of properties have their ups and downs, it all comes down to your preferences as a buyer. If you head out in search of a piece of property for sale only to find yourself in a situation that requires you to answer this question, “Should you be buying a newly launched property or a completed property with CCC?” the information detailed above will help you come to a sound decision.
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