With so many housing schemes available in Malaysia such as RUMAWIP, PR1MA and so on, buying a house is no longer just a dream. Before you buy any property for investment purpose, make sure you understand the RPGT Malaysia. Being a landlord comes with many requests and demands but it might not be as hard as you imagine it to be. These are a few tips that might help you to become a good landlord when you lease your unit.
In conclusion, being a great landlord will result in having great tenants. Not only being a good landlord will make your tenants extend their contracts and stay for a long time, they will also do their best to pay their rents on time and cause minimal problems to you. Do make sure you have a solid understanding of being a successful landlord before leasing out your unit.
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Buying a house can be quite a daunting experience especially for first timer. This article will guide you through the checklist that you need to know before buying a house in Malaysia. With so many schemes available for first time home buyers, such as the PR1MA Scheme, buying a home is less stressful and more affordable, especially for young working adults. Average prices of houses Next, you will need to do a survey to find out the average property prices in Malaysia. The houses in Kuala Lumpur is the most expensive with an average price of approximately RM500,000. Types of home Next, you will need to decide on which type of house you prefer: apartment, condominium, terrace house, detached house, semi- detached house, townhouse and so on. With no many types of houses available for you to choose from, you need to decide which type of home suits your budget and needs the most. Downpayment After deciding which house you would like to purchase, it comes the down payment. Typically, you will need to pay a 10% of the property’s price as the down payment, if you manage to secure a 90% bank loan. Hence, you will need to ask yourself whether you have enough cash to pay for the down payment. Affordability After that, you need to have a financial plan to determine if you can afford to buy a house. There are expenses that you need to take into account, such as your spending habits, down payment, monthly mortgage payment, savings and so on. You need to make sure you can afford to buy a house before you make a huge commitment of buying a property. Home loan and interest rates Next, you will need to check for interest rates offered by different banks. The interest rates offered by the bank is determined by Base Lending Rate (BLR) that is set by the Bank Negara Malaysia (BNM). However, different banks will have different interest rates as well. Do your research on the interest rates offered by different banks. Offer After you found the right house for yourself, it is time to make an offer that is agreeable among both the seller and you. Once you have reached an agreeable purchase price, you need to sign the standard documents and make a payment of 2% earnest deposit. Bank loan After the signing, you need to find out the different housing loans offered by different banks. Apply for a housing loan that best suits you. Lower monthly installment If you wish to lower down your monthly mortgage payment, you could always do so by paying a bigger sum of down payment, apply for a bank loan with the lowest interest rates and opt for a longer period for your housing loan. In conclusion, the procedures of buying a home on your own is not diffuclt as long as you plan ahead and stay within your budget. Remember to always be realistic as you do not want to get yourself into a financial burden after getting a home. |
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