100 Pro Tips for Easy Homeownership

FROM HOUSE HUNTER TO HOMEOWNER

100 Pro Tips for seripajam.com.my

Easy Homeownership

TABLE OF

CONTENTS 8 Things to Look Out For

04

5 Home Buying Mistakes That Almost Everyone Make

06

6 Things To Consider When Choosing Where To Live With Your Kids

08

5 Mistakes of Property Investors

12

3 Checkpoints of Defect Liability Period (DLP)

14

5 Comparison of New House vs. Sub-sale Property

16

6 Top Amenities To Live New That Effect House Value

18

10 Tips for Buying the First Home

22

The Costs of Buying A Property in Malaysia

24

3 Ways To Securing Down-Payment For Your First Home

26

5 First Home Scheme in Malaysia

29

3 Steps to Apply Syarikat Jaminan Kredit Perumahan Berhad (SJKP)

31

TABLE OF

CONTENTS 6 Benefits OF Buying A New Home

32

How To Improve Barrowing Power

34

6 Ways To Improve Your DSR & Credit Rating

35

5 Steps To Owning A Home

38

Bank Loan Application Checklist

39

Loan Calculation

40

Government Loan Entitlement Chart

41

4 Steps To Use Your EPF Money To Buy House in Malaysia!

42

8 Qualities Having A Good Neighbourhood When Moves to New Home

44

7 Things to Do After Own A House

46

10 Home Items Can Buy Using EPF

48

8

3 POINT

CHECK

D E F E C T

L I A B I L I T Y

P E R I O D

( D L P )

CHECK POINT

01

DOES THE PROPERTY MATCH WHAT WAS PROMISED BY THE DEVELOPER?

MAKE SURE ALL DRAINAGE SYSTEMS AND WATER HOLES IN BATHROOM FLOOR AND SINK, AS WELL AS KITCHEN FLOOR AND SINK ARE NOT BLOCKED.

CHECK POINT

03

IS THE WORKMANSHIP SATISFACTORY?

CHECK THAT ALL GIVEN APPLIANCES AND FIXTURES IN THE BATHROOM, TOILETS AND KITCHEN ARE AS PER LISTED IN THE SPA.

02

CHECK POINT

DO ALL THE FIXTURES WORK PROPERLY?

1. KNOCK EVERY SINGLE TILE AND IF YOU HEAR ANY HOLLOW SOUND, PUT IT ON THE REPAIR LIST. 2. CHECK ALL DOORS, DOOR FRAMES, HINGES AND KNOBS TO MAKE SURE THERE’S NO DENT, SCRATCH OR MISALIGNMENT, CAN BE PROPERLY CLOSED AND MATCH THEIR KEYS. TRY A COUPLE OF TIMES. 3. CHECK FOR ANY TRAILS OF DRIED CEMENT, VARNISH OR PAINT ON ANY PART OF THE HOUSE.

10

The Tips For Buying A First Home Study real estate in Malaysia

01

You should research the record of the real estate developer to prevent your home from becoming an abandoned project.

Ideal House That Matches Income

02

Individuals who want to buy a house are advised not to allocate more than onethird of their household income to their monthly home loan installments.

Price Below Maximum Loan Eligibility

03

04

05

Although you may be eligible to buy up to RM300,000, it is better to look for a house in the price range of RM250,000 so that it is easy to get bank approval because it is closely related to the Debt Service Ratio (DSR).

There is Fixed Income Fixed income will make it easier for you to make repayments on the housing loan. In addition, EPF contributions from your salary can be used to apply for a house later.

Don't Be Fooled by 'Cash Rebate' Do not believe easily because all the costs are already included in the price of the house. Do a little research first.

Land Status Find out the land tenure of your future home whether it is freehold or leasehold.

06

EPF Second Account This method is open to those of you who want to buy a first home, or who already have a first home but want to buy a second home on the condition that your first home has been sold or disposed of.

07

Check CCRIS And CTOS Status Check your credit status at the Central Credit Reference Information System (CCRIS) or Credit Reporting Agency (CTOS) to see personal loan, credit card, rent-toown and bankruptcy status.

08

Even a small house is ok!

If you want to buy a house, you don't have to start with a bungalow. There is no problem with buying a small house first because house prices will increase.

Potential Locations Buy a house in a prominent location, such as in a city or close to public amenities because it is easy to resell in the future.

09

10

5

First-Home

Scheme In Malaysia

1 Stamp Duty Exemption The government has extended full stamp duty exemptions for first-time homebuyers and for those purchasing a home valued below RM500,000 until 2025. A 75% exemption has been provided for properties worth above RM500,000 to RM1 million until the end of 2023. This measure is designed to encourage homeownership among Malaysians​.

2

BSN Youth Housing Scheme

The BSN Youth Housing scheme provides up to 100% financing for property purchases, with a repayment period extending up to 35 years.

Eligible applicants are Malaysian citizens aged between 21 to 45 years, with a combined monthly income not exceeding RM10,000.

3

1Malaysia Housing Programme (PR1MA)

The PR1MA initiative is designed to support middle-income earners in Malaysia. It offers a range of affordable housing options priced between RM100,000 to RM400,000. Applicants must be Malaysian citizens aged 21 and above to qualify. Applicants must be earning a monthly household income ranging from RM2,500 to RM15,000.

Perumahan dan Hartanah Selangor 4 Lembaga (LPHS) This initiative by the Selangor State Government is dedicated to offering affordable homes to the residents of Selangor. These home prices range from RM42,000 to RM250,000. Eligibility extends to Malaysian citizens aged 18 and above earning a monthly household income between RM3,000 and RM10,000.

5

Residensi Wilayah (RUMAWIP)

Spearheaded by the Federal Territories Ministry, RUMAWIP aims to provide affordable housing solutions to the middle-income group residing in Kuala Lumpur.

The scheme features various housing types within the price bracket of RM150,000 to RM300,000. It is open to Malaysian citizens aged 21 and above, born, living or working in Kuala Lumpur.

Source From https://www.iqiglobal.com/blog/first-home-schemes-malaysia/

DON’T HAVE A FIXED SALARY,

BUT WANT TO BUY A HOUSE? APPLY SJKP NOW!

SKIM JAMINAN KREDIT PERUMAHAN

SJKP or known as Skim Jaminan Kredit Perumahan is another government effort to assist gig workers, farmers or small owner business that have capacity to repay their loans but have no proof of fixed income to apply for mortgage loan.

1

Malaysian citizens aged 18 years and above.

4

No other adverse credit records within the last 24 months

2

First house purchase for own occupancy.

5

CCRIS record of arrears not more than 2 months within a period of 12 months.

3

Open to newly completed, under construction or sub-sale, affordable home or auctioned residential property.

6

Source From: https://www.penerangan.gov.my/skim-jaminan-kredit-perumahan-sjkp/

The total repayment of all applicant's loans does not exceed 65% of gross monthly income.

Here are

3 EASY STEPS to apply

SJKP

1 Identify the house that you want to purchase

2 Provide supporting documents such as bank account statement, Business License, Fisherman's Registration Card, or other related documents.

For non-fixed income earners, obtain a confirmation letter from an authorised person to pertaining to your income (Goverment Officer Category A, Chairman of Jawatankuasa Kemajuan dan Keselamatan Kampung (JKKK), Penghulu or elected representative or Bank Branch Manager.

For salaried employees, please obtain salary slip and EPF statement.

3 e nearest documents to th ed at st e th l al ch, and Bring Institutions bran al ci an in F g in at tee particip g under a guaran in nc na fi e us ho apply for a scheme.

Source From: https://www.sjkp.com.my/en/#

The name of the house is new, so everything is new When everything is new, it feels more comfortable , confident and believe will last longer than the old house.

6

BENEFIT

OF BUYING A NEW HOME

Promotional Packages From Developers Give rebates or discounts for early buyers and offer a 0% installment payment scheme using Easy Payment.

Discounts For Bulk Purchases Will get discounts for bulk purchases or group discounts.

If there is any damage, report it to the developer and ask them to fix it for free as it is still under warranty.

New House Has Warranty

Cheaper To Get Home There are new houses that do not even need a deposit to enter the house, everything is included in the price of the house and also bank financing.

Cheaper To Get Home Ada rumah baru yang tak perlukan deposit pun untuk masuk rumah, semuanya dah termasuk dalam harga rumah dan juga pembiayaan bank.

4

STEPS

TO USE YOUR EPF MONEY TO BUY HOUSE IN MALAYSIA!

DETERMINE HOW YOUR EPF MONEY WILL BE USED Understanding your EPF Funds by knowing that the money you have in your EPF is divided into two. Account 1 is meant for your retirement, but you can use Account 2 for the purposes of funding your home.

3

PREPARE YOUR DOCUMENTS EPF withdrawal form [Form KWSP 9C(AHL)].

The original copy of the Sale & Purchase Agreement (SPA).

Photocopy of your Identification Card (myKad or Passport).

1

2

CHECK YOUR ELIGIBILITY Malaysian citizens / nonMalaysian citizens who became members before 1 August 1998 and not reached the age of 55 with savings of at least RM600.00 in Account 2.

4

APPLY FOR WITHDRAWAL THROUGH I-AKAUN You will be given a temporary username and password when register for i-Akaun at nearest EPF kiosk or counter.

Qualities Having A Good

u o r b h h o g i e N When Moves Tood New Home

Safe environment

1

A strong sense of community and a commitment to family values help keep a good neighbourhood safe.

This will take the worries off your mind if you are a single woman who is living alone or busy parents who are struggling to ensure their children are free from harm.

Pedestrian-friendly

3

It’s safe and easy to get around on foot or by bicycle; you can enjoy great places to shop, as well as diverse entertainment and cultural experiences.

Convenient neighbourhood

Accessible

2

4

Close friends can support you in many ways, such as being a good listener, helping to distract yourself when you're feeling sad and upset, and doing nice things for you.

A well-designed community enables easy access to all types of amenities and facilities such as supermarkets, healthcare centres, schools, higher institutions, services and public transportation systems.

Variety of housing types

5

A good neighbourhood should have a mix of housing options, including low-rise apartments to single-family homes, for people who want different lifestyles.

Active community to solve issues in the neighbourhood

6

A neighbourhood where neighbours take care of one another, connect with their community and gather together to solve problems.

Low crime rates

7

A low crime rate can help you create a safe neighbourhood and take the worries off your shoulder. You can talk to people who live within the area to get a glimpse of the neighbourhood.

Friendly and welcoming neighbours

8

Supportive friends can trigger or increase your self-confidence because a good friend usually supports and advises you positively when you are in a difficult situation.

o D o T s g in se h u o T AH

7

n w O r e ft A

Save yourself from future headaches by creating a maintenance plan Remember to set up your utilities, including water, electric, Internet, and television once you have officially moved in. You may setting up auto-billing on utilities to avoid missing any payments.

Factor in other expenses such as utility and maintenance costs when budgeting Do not underestimate the obvious carrying costs of a home and the subtle aesthetic or lifestyle costs of a house (usually associated with renovating and redecorating). Instead, budget wisely to avoid surprises.

Share your new address to relevant people!

Now that you have relocated to a new house and neighbourhood, it would be useful, and wise, to update relevant parties such as family and friends in case you need emergency assistance or attention.

Renovate, repaint and redecorate your house!

Renovations can be considered a necessity if it is done for safety purposes. For example, if you noticed your old walls might have the potential to collapse, then perhaps consider redoing it.

Continue saving for emergencies and retirement Always try to put away at least 1% of your paycheck. The higher the better, into your savings and emergency funds and the latter would be helpful for you if problems arise in the future.

Check the security and safety of your new home Recommend installing safety grills for your front door or windows for extra security.

Hello friends!

Meet your new neighbours Even if you are not a social butterfly, your neighbours could be a resource in case of any emergencies. They could also be good reference points and lunch or dinner buddies.

EPF

CAN BUY USING

10

HOME ITEMS

1

(Empl oyee s' Pr ovid ent Fu nd )

2

raya furniture

The dining table is everyone's place during the Holidays. You can also get delicious food, you can't go anywhere else. Guests who come to visit are also treated to meals.

In general , wooden furniture is the main choice for home decoration for Malaysians because it has its own qualities such as teak, merbau and cengal and rattan!

4

dining table

hanging lamp

It is very suitable for living rooms because of its unique design. It is also has a variety of shapes and sizes that you can choose from to give a difference to your living room and hung at the appropriate height to prevent guests from being disturbed by the light from the lights.

Source: https://www.propertyguru.com.my/bm/panduan-hartanah/guna-i-sinar-kwsp-untuk-rumah-hari-raya-malaysia-47688

3

curtain

One of the most important home decorations is the curtain. Regarding materials, Polyester is the most suitable because it is easy to wash and clean.

5

Decoration Staples

It has become a trend for many home owners to brighten up the beauty of their home space with decorative items, especially green decorative items. Green decoration trees are very suitable for various corners of the house such as the living room, bedroom and certain corners such as banana trees or also known as 'sky birds'.

6Equipment Kitchen

7

Paint the walls

House wall paint is also an important element that complements a residence. Wall color is very important because it affects the appearance and mood of the room.

Alang-alang has got the money from your 1 KWSP account that you have been saving for years, what do you mean by buying kitchen utensils that you or your partner have been wanting for a long time. Items such as air fryers, microwaves or low quality rags. Not only can you wear it on Eid!

8 9

What's the word this year?

Decorate the empty walls of your house by hanging frames or polaroid films with family pictures or works of art of your choice.

Image Frames

Home Fragrance

If the host smells good, the house should smell good too, right? What's more, the smell of food can be trapped in the house. Why don't you spend a little money to scent your house with various types of perfumes or air diffusers that are sold on the market?

Source: https://www.propertyguru.com.my/bm/panduan-hartanah/guna-i-sinar-kwsp-untuk-rumah-hari-raya-malaysia-47688

10

Sofa and Pillows

The sofa is one of the most important elements in the living room of a house. This is where you serve your guests and is also a relaxing room for you and your family to watch TV. If you want to be more interesting, you can put additional sofa pillows that contrast with the color of the sofa.

STAY CONNECTED!

SCAN TO REACH OUR PROPERTY BUDDY

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