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," commented one expat who made the move to 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 in Malaysia.
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Other Questions:
- What do I need to know before retiring in Malaysia?
- How do I meet people in Malaysia?
- What is life like in Malaysia?
- Is there a lot of crime in Malaysia?
- Is there a lot of diversity? Are people in Malaysia accepting of differences?
- What are the schools in Malaysia like?
- Is the cost of living in Malaysia high?
- What advice do you have for expats having a baby in Malaysia?
- What are healthcare services like in Malaysia?
- Is the cost of living in Malaysia high?
- What type of recreational facilities are in Malaysia?
- What is the weather like in Malaysia?
- Are there good restaurants in Malaysia?
- Where will I buy groceries and do other shopping in Malaysia?
- What are the visa & residency requirements in Malaysia?
- Are healthcare and health insurance expensive in Malaysia?
- What do I need to know when buying property in Malaysia?
- Are foreigners allowed to own property 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 joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat 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.