Does size really matter? This question often pops up in the property investment sector and the renovation industry. In this article, Jimmytan shares how to make the best of it for better value.
Malaysia is no way near Hong Kong or Singapore in terms of property prices, yet our properties at premium locations are beyond the affordability of the average investor. In recent years, many developers have launched small unit projects at premium locations such as KLCC, Mont Kiara, and Damansara. Here, a small unit is usually around 500 sqft and comes with a studio or bedroom, a bathroom, a cozy living room and a kitchen.
To avoid high property prices, most developers are now shifting their focus to building shoebox units in the urban areas especially commercial lands that come with a higher value. The owners of these units in turn, will have to pay higher rates for utilities and other taxes because of these commercial land titles. These developers build smaller units in order to bring the overall prices down to create an easier entry for investment or perceived affordability. Rising house prices coupled with more stringent house loan regulations are shaping smaller units in the future. The younger investors place greater emphasis on facilities over the size of the property and the number of bedrooms contained within it. Hence, facilities such as yoga studios, movie halls, spas, and lounges with spectacular views are often used to attract these investors.
Celine Kee of IQI Global Real Estate Agency shared the benefits of investing in a smaller unit:
- Lower capital – this is good news for both new and seasoned investors. The former can start and the latter can diversify their investments without involving a big capital.
- Easy to rent out – due to premium locations and affordability, the rental demand is relatively high, thus creating a good cash flow for the investors.
- Easy to maintain – due to its size, it is relatively easier in terms of housekeeping and maintenance cost.
- Easy to renovate – besides a kitchen that needs to be custom built, other items can be purchased off the rack and fixed by the owner himself. So it is an easy ID setup.
With this in mind, take note of these easy and tasteful tips to maximize and create a million dollar look for your small unit. Multifunction and maximize are the keywords.
- Keep the place neat and organized.
- Create a continuous spaciousness by opting for a light and glossy floor and paired it with a white or neutral painted wall. My favorites are Dulux Pearlglo- Lilywhite.
- Muted color like white will open up the space. Create design flexibility by changing the décor and artwork.
- Tall mirrored wall near light source will visually open up and energize the space.
- Maximize storage by creating a utility storage with strong effect. Laminated door can double as featured wall.
- Opt for quartz worktop. Besides durability, it will give an element of natural stone luxury.
Tall wall unit built to ceiling height to maximize storage.
- Invest in a good ladder storage unit. Efficient storage at small workplace is a must.
- Create a niche for display or showcase collections and a liquor bar with wall unit as an add-on for personal touch.
- Create an accent tiles wall or color-painted glass backdrop as area focus wall.
- Integrate this area into kitchen or living room.
- Breakfast counter at kitchen area.
- Banquet sofa seating cum dining at living room.
- Select multifunction pieces like sofa bed or coffee table with hidden storage.
- Downsize the sofa and armchair. Get a less deep but as wide as the room can fit.
- Minimalist style and long exposed legs help makes the room seems bigger.
- Mirror surfaces or glass tops create extra space illusion and light reflection.
- Maximize bedroom spaces by placing shelves on the wall and utilize the space beneath the bed as storage.
- Sliding wardrobe is best for small rooms. Make it multifunctional with mirrored wardrobe door to brighten up the room and create an illusion of a bigger room.
- Small spaces do not have to be plain. Balance the bold elements with neutral background.
- Wallpaper for living room can be a featured wall and also as gallery wall for artworks.
- Wallpaper for bedrooms to liven up the small space. Incorporate it with bedding and decorations.
- Small space need good and ample lighting to brighten it.
- Make sure there are no obstructions that can block natural light stream from entering the room.
- Avoid placing tall furniture or plants against the windows.
A small unit does not mean lack of style or comfort. An experienced interior designer can make the most from your limited space and visually maximized it. Proper planning and execution can turn it into a unit that is Instagram worthy. With good location, strong rental demand, and capital appreciation, this investment is truly a gem!
This article is contributed by Jimmytan.
ABOUT THE AUTHOR
Jimmytan is the Design Principal of Mood Design Solution (MDS), an exciting and innovative interior design firm in Malaysia. After graduating from his interior design studies, he started his practice in 2000. With experience in interior design for the retail, corporate and residential sectors, Jimmytan emphasizes quality and efficiency in his designs. “It’s important to always work out the most efficient solutions based on client’s requirements. The client is the king yet when he or she engages the designer, a certain level of trust is crucial to execute it. A sense of ownership will create the best result,” says this talented designer. “Ultimately, design efficiency is important – in the long run this approach will be cost saving.” Jimmytan currently resides in Kuala Lumpur and loves working out, doing yoga as well as immersing in property investment studies during his free time.