As the housing cost are rising beyond affordable level, most of you are having second thoughts on purchasing your new home. Be it your first home or second home, current house prices can be really pricey especially for those that resides in city area. Imagine if you want to purchase a second hand apartment that cost RM450,000, you need to fork out 10% deposit + other fees such as legal fee. Lets assume its RM50,000. Isnt that a lot for some of you that have only worked for less than 5 years?
Feel headache thinking about how to purchase a house now? Dont worry Grasshoppa, I feel you. That’s how I feel when I started to survey for my first home for over 2 years & I finally bought my first home around 2009. So how can you purchase your first or second home with as low as RM3000? Lets look at some of the package offered by different developer.
Looking at the above package offered by 2 different Property Developer, you might noticed on the rebate offered by the developers. Its up to 9% so all you have to do is to pay the 1% deposit. Of course some developer can go the extra mile to offer more rebate to make the package more attractive. If you look at Paramount Property rebate, they are offering Prompt Signing Rebate if you sign the SPA within 2 weeks & Repeat Purchase Rebate since I own one of their property.
Bare in mind that there will be other fees that will incur during or after your purchase such as Maintenance Fee, Legal Fee & MOT Fee. Since the above property is new, usually the developer will absorb the Legal Fee. If you purchase second hand property, the Legal Fee will be borne by you. MOT Fee is based on the property price. You can refer the sample as below :
Here is the link for your reference. Looking at the calculation, the higher your property price the more you have to pay for the MOT Fee.
You have made the decision to purchase your new property. What do you have to consider next? Since new property take up to 2 years to complete, now you can consider how much to keep. Usually your property agent will tell you that you only have to serve interest for your loan until the property is complete right? It might sound like a relief to many of you but there are many other fees that you need to consider & prepare before or after your property complete such as :
- MOT Fee
- Renovation Fee + Furniture
- Utility Deposit
- Maintenance Fee
- Monthly Installment
At current stage, you might notice that there is many upcoming development around your area. That might be a good thing or bad thing. Good thing is, it might help you to get better deal for your property purchase such as low deposit. Based on the above property comparison, all you have to do is to pay as low as RM3000 but dont be too comfortable after your purchase because you need to keep your money early for contigencies. But dont worry Grasshoppa. All you have to do is to start to plan your financial early & you will be all ready for this.