A Heavenly Home Without Breaking the Bank

Posted on November 15, 2024

(Note: This is a 5 min read)

Throughout time, a house’s main purpose has been to ensure the safety and well-being of its occupants. Today, people need homes that support social isolation, while still prioritizing safety and comfort above all. COVID-19 has impacted how we live and use our homes. During the lockdown and quarantine many were required to work from home, and students of all ages – from primary school to college and university – had to adapt to online learning.

As a result, people are paying much more attention to setting up dedicated work and study areas at home. What was once just a desk, chair, and lamp tucked into a corner of the living room, by the staircase, or in the bedroom now often requires an entire room designed specifically for productivity. Many opt for a separate, sound-insulated room with comfortable furniture and the necessary tech setup. Additionally, homeowners are increasingly seeking larger kitchens, extra rooms, and more spacious living areas to accommodate these evolving needs.

The COVID-19 pandemic has shifted Malaysians’ views on home space, with 73% looking to change their living situation after spending more time indoors, according to PropertyGuru Malaysia’s H2 2021 Consumer Sentiment Study. Of those surveyed, 38% plan to renovate or repurpose parts of their home, and 35% are thinking more about buying a new home or relocating.

The top reasons for wanting to purchase property include investment opportunities (43%) and taking advantage of current low-interest rates (27%), while a need for more personal space ranks third (26%). Additionally, around 77% of Malaysians now consider it important for new properties to include an extra room for use as a home office.

After 17 months of various lockdowns, more Malaysians recognize the value of having personal space, especially with the rise of remote work.

Today, let’s dive into some fascinating facts about the furniture industry and uncover a few surprising insights!

In Malaysia, how much do people spend on furniture depends on their income and home improvement needs. On average, households shell out between RM1,000 and RM5,000 a year, with the amount varying based on their budget and the scale of their home projects. This has helped create a furniture market worth around RM4 billion, growing steadily by about 3% to 5% each year. The demand is expected to stay strong, thanks to more people moving to cities, an increasing middle class, and a growing interest in making homes look great and function well – even with inflation putting some pressure on spending.

With the keys to your new house in your hand, you’re thinking – “The hard part is over.” All those nights spent pouring over your financials, going through the paperwork, and back-and-forth with everyone from lawyers to real estate agents to parents – done and dusted.

Or so you think. What next? Furnishing. This can be fun but it can be a costly exercise.

For many, this will be the first opportunity to have complete control over the look and feel of your space. But with that freedom can come a sense of overwhelm. Is a 12-seater sofa set too much? Is a round coffee table stylish or a space hog?

Now comes the fun part – choosing the pieces that will make this house feel like home. But here’s where many new homeowners start to feel the pinch. With endless options in designs, colors, and materials; creating a cohesive, stylish look can be a challenge. Trends change fast, and what looks great online can often clash in-person. As a result, a lot of homes end up with a mix-and-match look that doesn’t quite hit the mark.

One reason for this inconsistency is the influence of short-lived furniture trends. Many buyers feel pressured to follow the latest styles, only to find that these pieces don’t necessarily suit their needs or fit well with other furniture in the space. This leads to a disjointed mix of modern, minimalist, and sometimes even vintage styles that may feel more chaotic than cohesive.

However, purchasing a set of furniture at the same time can be difficult for the young adult. Sometimes good quality and well-crafted furniture can be set at an exorbitant price. This may cause them to opt for cheap or low-end furniture without considering the style. Budget constraints can limit choices, pushing people to prioritize immediate affordability over long-term comfort and style.

When it comes to affordability and payment options, the furniture industry offers a range of solutions, but the choices can often seem like a balancing act between price and quality. For instance, stores like IKEA and Harvey Norman cater to different needs but approach affordability and payment flexibility differently. IKEA has affordable, stylish furniture with DIY assembly, but you need to pay upfront, which can be tough for some. Harvey Norman lets you pay in installments for higher-quality pieces, but keep in mind, the interest can make the total cost higher.

While both stores offer – feasible options, young buyers often find themselves needing to choose between affordable, ready-to-assemble furniture or higher-end items that require a financial commitment. Here’s where models like Rent-to-Own (RTO) would appeal to this segment of buyers. This model offers a middle ground, allowing buyers to initially lease the furniture in exchange for agreed monthly payments and gradually work toward ownership at the end of the arrangement; without the burden of upfront costs or high interest rates.

This can be a great way for those on a budget to achieve a cohesive, high-quality look for their home without the need for immediate large expenditures or long-term debt. The RTO approach provides affordability and flexibility, allowing homeowners to design the space they envision without sacrificing style or quality, and without costing a fortune!

You might be wondering where you can find a company that offers high-quality, consistently stylish furniture while also giving you the flexibility of a Rent-to-Own (RTO) model. Introducing Ladore Signature, a pioneer in RTO furniture. It offers an affordable and flexible way to furnish or upgrade your home without the usual financial pressure.

With ambitious plans to expand nationwide, Ladore Signature aims to make high-quality, affordable furniture accessible to Malaysians from all walks of life. Their business model includes partnerships with local universities, targeted marketing, and expansion across both online and offline platforms.

In a world where home comforts and financial freedom should go hand in hand, Ladore Signature stands out as a leader in Malaysia’s furniture industry, offering style, sustainability, and flexibility for modern living.

Due to market demand, Ladore Signature is now expanding its business and will be launching its Equity Crowdfunding (ECF) fundraising campaign soon. Look out for their ECF Campaign at www.ata-plus.com and discover more about their stylish furniture. Join us in supporting Ladore Signature to redefine home furnishing with affordable luxury through curated collections.