Factors to Consider When Buying a Village House in Hong Kong
Hong Kong is one of the most progressive countries in Southeast Asia, and this is what is attracting a lot of foreigners to call it home. For this reason, its population density is getting higher and higher. So when it comes to investing in a residential place, and you are after a more peaceful and private environment, you might want to consider buying a village house instead of a flat or a condominium unit.
A village house, though, is a huge investment. You really have to be prepared financially if you want to purchase one. Below, we have highlighted the important factors that you must consider when buying your dream house in the said country to ensure that you will get the most value for your money:
Structure
Most of the village houses that you can find in Hong Kong are two to three-stories high. They also vary in the number of bedrooms and bathrooms. Some have two bathrooms and bedrooms, while others have more than that.
Before you shop for a village home, it is important that you determine your needs. How many of you are going to live in the house? What are the amenities that you are looking for? Once you have set your requirements, it will be a lot easier for you to narrow down the choices.
Proof of Ownership
Vendors of village houses in HK are required to show their proof of ownership to the buyers. This is one of the very first things that you should check before you close a deal. Make sure that the seller is the lessee, grantee, or assignee. And also, see to it that the vendor’s name is in the title.
Provisions of the Building License
Village homes in Hong Kong are usually found in New Territories, where the rights of occupation of land come with certain provisions. Take note that in some areas, some properties (land) cannot be resold. So to avoid problems later on, you need to check the provisions of the building license. Make sure that once you have completed the transaction, you will have rights both on the house as well as on the land.
Price
Prices of village houses also vary depending on some factors such as the size, amenities, and location. That’s why we mentioned earlier that you have to set your requirements before searching.
If you know exactly what you need, then you can easily make a comparison of the different village homes. You can then choose one that fits your budget. If you don’t have enough to pay it in full, you can consider seeking the assistance of a bank.…