• Decide between move-in ready homes for instant occupancy or experience developer perks with under-construction homes.
• Move-in ready homes offer simplicity, while under-construction homes provide more customization options.
• Move-in ready homes cost more upfront, but under-construction homes can offer savings with trade-offs.

Are you thinking of buying your first home but also feeling a little overwhelmed by the choices and decisions ahead? Just like picking your favorite candy, buying your first home can be both exciting and tricky. When it comes to buying your first home, you’re faced with choices between move-in ready homes or  under-construction homes. But which options should you go for? Let’s take a look at the pros and cons of the two options.

Move-in Ready Homes

Buying a move-in ready home offers immediate occupancy, allowing you to avoid construction delays and enjoy your new home right away. It saves you time and effort by eliminating the need for renovations or repairs, providing a more straightforward buying process. You also gain a physical inspection of the property, helping you make informed decisions about its condition.

However, move-in ready homes often come with a higher purchase price due to land and construction costs, and customization options may be limited compared to new construction as the property has already been built. Additionally, you may need to make trade-offs in terms of location, size, or amenities, but careful consideration can still help you find a suitable existing property.

Under-construction Homes

Buying a home under construction has its benefits as well. You'll be the first  to live in a brand-new house, meaning no immediate repairs or renovations required. Developers often offer discounts and special deals especially for first-time homebuyers. You can get discounts when you buy, like early-bird or holiday deals during festivals like Raya. Sometimes, you won't need to pay a down payment either! In Malaysia, there's a 24-month warranty period called the Defect Liability Period (DLP) where you can ask for fixes if any issues arise. 

Aside from the advantages, there are potential downsides to consider. Construction might take longer than expected due to the complexities involved, in which it potentially leaves you having to wait for years before moving in. Additionally, there could be uncertainty about the final outcome as design or material changes may happen, requiring flexibility and backup plans. 

Note: Move-in ready homes in Malaysia generally range from MYR 300,000 to several million MYR, depending on factors such as location and amenities, whereas under-construction homes can start at around MYR 250,000 and go up based on the developer, location, and project specifics.