Narrow Down Your Choices For House Hunting

Everyone has a dream house!

Visualize your dream house now and try to describe it by filling in the form below. If you keep these specific elements of a home in mind, your house hunting will be more successful, and you'll likely end up with a home of your dreams.

General Print out this form and keep in your pocket.
Style House or Single Block or Estate or Low-rise or Village House or Chinese Tenant
Age (years) Brand New or 1-5 or 5-10 or 10-15 or 15-20 or 20-25 or Older than 25
Interior Size (s.f.) Below 500 or 500-1000 or 1000-1500 or 1500-2000 or 2000-3000 or Over 3000
Bedrooms 1 or 2 or 3 or 4 or 5 or Over 5
Bathrooms 1 or 2 or 3 or Over 3
Car Parks 1 or 2 or Over 2
Open Area Garden or Roof or Terrace or Balcony
Air-Conditioning Central or Window
Decoration None or Nicely Decorated
Furnished Full or Partial or None
Pet Allowed or Not Allowed
Convenience  
Grocery Shopping Walking Distance or 15 minutes drive or On Bus Route or On Railway Route
Shopping Mall Walking Distance or 15 minutes drive or On Bus Route or On Railway Route
Restaurants Walking Distance or 15 minutes drive or On Bus Route or On Railway Route
Primary School Walking Distance or 15 minutes drive or On Bus Route or On Railway Route
Secondary School Walking Distance or 15 minutes drive or On Bus Route or On Railway Route

Buying a Home With Resale Value

It's the real life reminding you about the resale value of your dream house! Since most homebuyers wish to buy a bigger and better home someday in the future and they tend to use the proceeds from selling one home to buy the next one, resale value is an important factor in decision-making. No one can guarantee that your home will grow in value, yet there are some steps that help maximize your potential gain.

Location

Most buyers know where they want to buy a house, mainly close to work, friends, family and good recreation. Indeed, location is extremely important to the resale value of your home. Prime location of a house will usually appeal to the largest number of potential future homebuyers. A careful choice of location can minimize potential negative impacts on future resale value, and maximize positive influences.

Location of neighborhood: Local neighborhood with all essential shops and services, e.g. grocery stores, convenience stores, restaurants and clinics, and with convenient access to major traffic routes and mass transit, will usually strengthen the community, resulting in a continuous demand for properties. Avoid a property back or side to a busy street, a septic tank, an incinerator, or junk-bay, etc.

Location of "which community":
For two equivalent properties of the same size and features, the one located in a more prestigious community may provide more financial reward than the other located in a less desirable community.

Location of schools:
Even if you don't have school-age children or don't intend to have children, you must pay attention to the school network. Areas within popular school networks will gather up many potential buyers with concerns of this nature.

View

In Hong Kong, properties with a pleasant view are rare on the market. Thus, they can often sell at a premium above similar properties without the view. They may take you shorter to find a buyer when it comes time to resell the house.

House Size, Bedrooms and Bathrooms, Car Park Space, and Features e.g. Roof, Garden

Small and medium houses with 2-3 bedrooms guarantee the most potential homebuyers in Hong Kong. Having an extra bathroom in the master bedroom, a maid room and a car park space is desirable, which can secure the resale value quite well. Since features e.g. roof or garden, etc are rare on the market, they add quite considerable value to the houses.

Club House and Facilities

Clubhouse and facilities of the housing estate actually don't provide as much added value to your home. They are more likely to be gimmicks, which attract certain kinds of potential homebuyers, such as families with younger children, to knock at your door.

Conduct Property Research Over the Internet

Gather up information from some FREE property websites e.g. property.hk, hk.realestate.yahoo.net and www.cnp.hk. Figure out the price ranges and location of different property developments. The enclosed photos of the listings may give you an insight into the interior conditions and outlook of those properties. Also analyze their resale values by referring to the old transaction records. Seek opinions by chatting with other online users on some local property forums e.g. cybertalk.property.hk.

A thorough research on properties over the Internet gives you an outline on narrowing down your choices. It often brings people back to the reality because it's the moment they realize their dream houses are too perfect that they can't find or their dream houses are too expensive that they can't afford.

If necessary, raise your budget or do some corrections on the form of your dream house.

Nevertheless, doing a research is a good preparation before you take action for a successful house hunting.

Good Luck!