Updated: Jun 23, 2020
Buying a home is one the largest financial investment most individuals will make in their lifetime, and the benefits usually outweigh the challenges. Asking the right questions and doing your homework prior to buying that home you fell in love with at viewing is essential.
Our staff writer Phyo Ei Khine shares some of the most commonly asked questions from our Pun Hlaing Estate project sales team answers:
Phyo Ei Khine: Should I buy instead of rent?
Charlotte Ng: It is much better to buy; as buying a property can have capital appreciation whereas renting a property does not have any appreciation value.
Phyo Ei Khine: Should I buy a home in a gated community?
Soe Yan Paing: Yes definitely. A gated estate offers the fundamentals for residents, such as safety, security, club house amenities, sports facilities such as golf club, tennis courts, outdoor pool and wellness & spa facilities.
Phyo Ei Khine: Can I find a rent-to-own property?
Chaw Thinzar Khine: As we have rental specialists at Pun Hlaing Estate, clients can rent the property first, and eventually buy the property they are renting.
Phyo Ei Khine: I own a home, should I buy another before selling my current home?
Khin Mar Kyi: It really depend on the clients' financial situation. If the client decides to sell first, then the client take the risk of not having a place to live. There are many options though. A “rent-back” can sometimes be negotiated with the buyer of your current home. A “rent-back” would allow you to retain possession of your current home for a certain number of days after closing, at the expense of paying the buyers' mortgage. A “rent-back” also allow for additional time to find a new home.
Phyo Ei Khine: How is the neighbourhood/area?
Nanda Aung @ Sam: Neighbourhood is what creates a quality community. The worth of the neighbourhood, in the long run, is the worth of the individual home owners occupying the estate. So we always have to value good neighbours while being one. It's a value that cannot be measured in financial figures but by the smiles we get and spread in the neighbourhood for our family every day. Bottomline, it's crucial that we choose the right neighbourhood as it's not an option that can be added later like a gazebo .
Phyo Ei Khine: How are the schools?
Wut Yee Maw: We have Dulwich College within the estate. Dulwich is a world class British international school offering an educational environment designed to nurture the intellect, physique, social and emotional development of its students, ensuring the future success of the kids and the family.
Phyo Ei Khine: Do I need a final walk through?
Sai Htay Win Tun: Yes definitely! We will do site inspection with client prior signing Sales & Purchase agreement. On the top that, we are also offering all new home owners a one year building warranty.