Tips to buying your own residential property

It is the dream of many couples to eventually have their own residential property that they can call home. But as this will require you to invest a lot of money then this requires careful thinking. If you are thinking of buying your own residential property then here are a few tips on how to do so.

Firstly, know what you want. Most people start looking around to buy without have a clear idea of exactly what they want. It's simple. If you know what you want then there's a good chance that you will get it. To avoid wasting time and energy on property hunting trips, you can search online for a picture of your dream home. Also make a list of the requirements you would want your home to have. This makes it clearer and more concrete.

Secondly, set your budget. Decide early on what your budget is. This way you won’t waste time looking at properties too far above your price range. Decide how you are going to finance your purchase. Are you planning to paying in cash, get a bank loan or borrow money from a private lender? It is vital to get these things in order first so that when you do find your dream home you won’t have a hard time acquiring it.

Lastly, consider the neighborhood. Make sure that you a buying a home in a safe community. Check the crime rate in the neighborhood. Also check if it is accessible by local transportation. You wouldn't want to have trouble getting around. The closer it is to your work place the better since it will be more convenient for you.

Based on an article by Connor Stephens

Queensbay Mall Roadshow (20-23/10/11)

Wellesley Residences will be holding its very own roadshow for the first time at one the most popular malls in Penang Island - Queensbay Mall.


Following the footsteps of its predecessors, Wellesley Residences was very well received since its official launch last month with about 40% sold so far.


Harbour Place has made quite an impact on the property market not only on the mainland side but on the island as well. So, it comes as no surprise that its presence here did not go unnoticed.

Second Penang Bridge latest update

Full speed ahead

By ANDREA FILMER andrea@thestar.com.my

Photos by CHIN CHENG YEANG

THE building of the second Penang bridge has reached 65% completion — some 2% ahead of schedule. Works Minister Datuk Seri Shaziman Abu Mansor said if work continued to progress well, the bridge could be completed two months before the projected date of November 2013. “Some of the bridge’s packages are ahead of schedule while some are behind, but on average it is 65% completed. “The development of the project is progressing as scheduled and I’m confident that the bridge will be completed before November 2013,” Shaziman said.

He said the 2% of work that was ahead of schedule provided a good “buffer” for the contractors ahead of the monsoon season. “There are many factors when it comes to construction projects of this size and this one is being conducted in the middle of the sea. “The pace may differ from month to month, but if conditions are favourable, construction may finish two months early,” Shaziman said.He added that construction was targeted to reach 70% by the end of the year with the overall cost of the bridge unchanged at RM4.5bil.He was speaking to reporters during a visit to the bridge’s Pier 90 where work on the superstructure is currently progressing.

During his visit, pressmen were also allowed to climb to the surface of the bridge for the first time. Shaziman also expressed disappointment that there were no industrial trainees working on the second Penang Bridge this year. “I have asked the implementing agency to get in touch with universities that have engineering schools, to send their students to this project.

“Last year, we had more than 50 university students during their practical training here. Perhaps there has been an oversight by the universities or some are unaware (of this opportunity) this year,” said Shaziman, adding that he would get in touch with the Higher Education Ministry about the matter. He said work on sizable projects like the second Penang Bridge was invaluable for students who wished to expand their knowledge and experience. “We want the local workforce to benefit as much as possible from this project,” he said, and urged the companies involved in the construction to also hire more local skilled workers.

Why Malaysia can look forward to Green Homes

Gone are the days when the concept of 'green living' was only reserved for the conservationist groups and tree huggers. What started as an alternative lifestyle movement has become a pivotal effort to conserve Earth's depleting resources in a bid to create sustainability and a healthier environment. We have started living our green lives but have you given much thought as to whether your home should do the same too?

A sustainable property employs a few methods to reduce pollution, emissions and unnecessary waste. Many forward-thinking property developers in Malaysia have taken to creating sustainable communities and selling the concept of a green lifestyle, in their projects. Many downstream property companies have also begun embracing this new paradigm by actively conducting Corporate Social Responsibility (CSR) programs that contributes towards a sustainable environment.

In an age where preservation is imperative to the Earth's subsistence, eco homes are fast taking over the market in Malaysia, not only for its increasing trend but also its contribution to long-term investment, and the fact that the country possesses the ideal location and climate for green homes. Today you can find such communities blossoming in various parts of the country such as Setia Eco Park, 11 @ Mont Kiara and Hijauan Residence, all located within Kuala Lumpur's vicinity. Urban developer YTL Corp has commissioned Bird Island in Kuala Lumpur as the proposed site for the YTL Green Homes Competition, which challenges international world-class architects to create the most ground-breaking and environmentally-friendly home ever built.

It was announced that Kuala Lumpur will host the 3rd International World Class Sustainable Cities Conference (WCSC 2011) this coming 20th and 21st of September 2011. The conference will showcase a number of successful green practices that have been implemented around the world, to be considered for future development projects across the country. A local municipal council based in the state of Selangor called Majlis Perbandaran Petaling Jaya (MBPJ) has deliberated on the possibility of awarding RM500 rebates to homeowners who partake in eco-friendly practices at home. This includes discounts for energy-conserving home upgrades like solar-powered water heaters or even cycling to work. This initiative was recommended by the Energy, Green Technology and Water Ministry's Low Carbon Cities Framework and funding for this project will be channeled from the PJ Sustainable Development Trust Fund, which will require RM50,000 for the project to take off after a proper assessment has been regulated.

The concept of eco-friendly homes are increasing in popularity in Malaysia. If you already own a property, you can make conscious choices on your lifestyle to create a green home; or if you are currently looking to buy or build property, you can begin looking into making the right choices by being mindful of the consequences of your development, as well as the effects the property has on its surrounding environment. Either way, you are working towards the future of Malaysian homes and living.

Based on the article by Larry Lim

OVR Construction status as at 06/10/11