[PropTalk] I'm Renting and Single. Which Area Should I Consider for My First Home Purchase?

Looking to buy your first home while renting and single? This guide explores the advantages and potential risks of investing in properties still under construction. We will highlight the key factors to consider and the best new projects to look at.

Q: I’m a 35-year-old professional with a solid salary and significant savings. I’m not planning to get married soon, so I’m interested in investing in a high-end condo that’s currently under construction. Due to their developer incentives and progressive payment plans, I prefer new projects over resale properties.

Could you recommend any new developments in prime locations that offer good future resale or rental potential?

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Buying your first home is an exciting yet challenging journey, especially if you are single and currently renting. This decision marks a significant step towards building your future and finding a place to call your own. Choosing to invest in areas with new construction projects can be a smart move, as these developments often increase in value over time.

Before making your decision, it is important to get a clear view of the advantages, potential risks, and key considerations. This guide will help you understand these aspects and make a smart choice for your first home.

Advantages of Buying a House Still Under Construction

1. Lower Purchase Price

Buying a house still under construction can be an exciting and rewarding experience, offering significant advantages, such as a lower purchase price compared to a completed house. Early buyers often benefit from reduced prices due to developer incentives or the ability to spread out construction costs over time, leading to potential savings of 5-10%.

2. Customisation Opportunities

Another significant advantage of buying a house under construction is the ability to personalise it to your liking. You often have the opportunity to select finishes and upgrades, allowing you to create a space that perfectly matches your tastes and needs. This level of customisation is rarely available in resale houses, making it your own before you even move in.

3. Progress Payments

Progress payments can make buying a home more manageable. Rather than paying for the house in one lump sum, you typically make staged payments over the construction period. This can help ease the financial strain, as it spreads out the costs over time, allowing you to manage your budget more effectively.

4. Potential Appreciation

It could also be financially rewarding. By the time the property is completed, its value may have appreciated, offering you potential gains.

Risks Associated with Purchasing a House Under Construction

While the prospect of a new house is exciting, it is essential to consider the potential risks:

1. Construction Delays

Unexpected construction delays are a common risk. Factors like weather conditions, supply chain disruptions, or unforeseen challenges at the site can push back the completion date, causing potential inconvenience and the need for temporary housing.

2. Uncertainty

When buying a house under construction, you rely on plans, models, and promises rather than a physical property. This can create uncertainty about the final result. There is always a risk that the completed home might not fully meet your expectations or match the initial vision presented by the developer.

3. Additional Costs

Unforeseen additional expenses may arise during the construction process. Changes during construction, adjustments to the design, or financial fluctuations can lead to additional costs that were not initially anticipated. Budgeting for these potential expenses is essential to avoid any financial surprises.

4. Current Living Situation

If you are currently renting, you must consider your living arrangements while waiting for your new home to be completed. You must ensure that your current living situation will be comfortable and sustainable during construction.

Considerations Before Making a Decision

Before finalising your decision, it is important to consider a few key factors to ensure you are making a sound investment.

1. Research the Developer

Before committing to buying a home under construction, it is crucial to research the developer thoroughly. Look into their reputation, track record, and previous projects to ensure they are reliable and capable of delivering on their promises. A reputable developer with a history of successful projects is less likely to encounter significant issues during construction.

2. Inspect the Site

If possible, visit the construction site to get a sense of the progress and quality of work. This can provide valuable insights into how the project is shaping up and whether it meets your expectations. It also allows you to address any concerns directly with the developer.

3. Consult Professionals

Seeking advice from professionals is crucial when making a significant investment, like buying a home under construction. Consulting with a real estate agent, financial advisor, and attorney can provide you with expert insights, helping you understand market trends, mortgage options, and the legal implications of the purchase agreement. Their guidance will ensure you make an informed decision that aligns with your goals and financial situation.

4. Review the Contract

Thoroughly examine the purchase contract, paying close attention to clauses related to construction timelines, changes, and any potential penalties for delays. Understanding the contract in detail will protect your interests and help you avoid any legal complications down the line.

7 Properties in Kuala Lumpur to Consider For Purchase

If you are looking to buy your first home in a prime location with great future resale or rental potential, Kuala Lumpur is a fantastic choice. The city has excellent amenities, public transport, and job opportunities, making it a top spot for living and investing. But with so many options, it can take a lot of work to know where to begin.

To help you out, here are 7 properties in Kuala Lumpur that stand out for their great locations, modern features, and strong potential for growth. Whether you are new to buying or have experience, these properties are worth checking out.

Project Name	Developer	Price	Built-up	Tenure	Completion Date	Layout
1. Tuan Heritag3 Residency	TNJ Development	From RM 511,400	820 – 1,026 sq. ft.	Freehold	Q4 2028	3 rooms, 2 baths
2. Radium Adesa, Desa East Residences	Radium Development Berhad	RM 498,000 – RM 1,562,000	850 – 2,560 sq. ft.	Leasehold	Q3 2027	2-5 rooms, 1-6 baths
3. Riana Trees Residences	IJM Land Berhad	From RM 650,000	900 – 955 sq. ft.	Leasehold	2027	3 rooms, 2 baths
4. Residensi 38	One JSI Development Sdn Bhd	RM 763,333 – RM 1,906,667	580 – 1,442 sq. ft.	Leasehold	Q1 2026	1-3 rooms, 1-3 baths
5. River Park	Malton Berhad	From RM 600,000	812 – 1,180 sq. ft.	Leasehold	2026	2-3 rooms, 2 baths
6. Sfera	MCL Land (Malaysia) Sdn Bhd	From RM 470,000	541 – 1,371 sq. ft.	Leasehold	2026	1-3 rooms, 1-2 baths
7. Vista Adesa (Residensi Desa Timur)	Fitrah Resources Sdn Bhd	RM 300,000 – RM 318,000	800 sq. ft.	Leasehold	Q4 2027	3 rooms, 2 baths

Buying a home under construction offers great benefits, like lower prices and personalisation options. However, be mindful of risks like delays and extra costs. By doing your research, getting expert advice, and reviewing the contract carefully, you can make a smart decision that protects your investment and meets your needs. This approach will help you confidently navigate the process and enjoy the rewards of your new home.