Should I buy or rent a home in Malaysia?
If you have not spent a lot of time in Malaysia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"We have rented an apt, fully furnished. It's wonderful. We pay more than the average rent for a local because of the location and size. The best way to find good apartments is to walk around in areas you like and talk to the security guards. They know everything," said a member in Penang, Malaysia.
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"It is ultimately a personal decision whether to buy or rent a home in Malaysia. Renting a home offers the flexibility of not taking on a large debt committment, and not having to worry about major repairs or maintenance. On the other hand, homeownership has the potential for increased financial stability and potential for appreciation over time, as well as more control over property value. When making the decision to buy or rent, potential homeowners should research the market, consider the costs associated with both options, and understand their finances. Ultimately, the answer to whether it is the best choice to buy or rent a home in Malaysia depends on individual circumstances," remarked another expat who made the move to Malaysia.
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Other Questions:
- What do I need to know before moving to Malaysia?
- How do I find a place to live in Malaysia?
- What is a typical expat home or apartment like in Malaysia?
- What is the average cost of housing in Malaysia?
- Should I buy or rent a home in Malaysia?
- What should I pack when moving to Malaysia?
- What cultural faux pas should I try to avoid making in Malaysia?
- Why do people move to Malaysia?
- What are healthcare services like in Malaysia?
- What are medical services in Malaysia like?
- What are typical rents in Malaysia?
- What appliances are typically included in a rental?
Should I buy or rent a home in Malaysia?
If you live in Malaysia, newcomers to Malaysia would love to hear your answer to this question.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.