Purchasing property can be a confusing process, especially if you’re a first time buyer and have no previous experience. You’ll soon realise that there seems to be a near endless supply of tasks and responsibilities that need to be seen to before you can even think about receiving your set of keys, and oftentimes accidentally missing one of these steps could have a very negative impact on your purchase or even your financial position.

The costs associated with investing in a new property stretch further than one might initially imagine, as you need more than just a simple deposit to get the ball rolling. Your deposit is still a substantial feature, but you can expect to pay other associated costs such as legal fees, stamp duty, valuation fees and more. There are an array of legal fees that every property investor must pay to avoid encountering overwhelming issues later down the line, so it’s a good idea to get in touch with a reputable property lawyer that has a proven track record of happy clientele.

Understanding these costs, especially when purchasing overseas in countries such as Malaysia, is absolutely essential. Failing to secure the funds that you need could see your investment fall flat, so you must take the time to perform sufficient research before committing to such a large purchase. If you need to convert your funds to invest in a property, then you must do this well in advance.

If you’re interested in finding out more about the costs associated with purchasing a property, then take a look at this handy infographic.

Infographic Designed By PropertyGuru Malaysia