If you are in the process of buying your first house, it is understandable if you get overwhelmed by the complex process of buying a house. You have to decide on a lot of things, including where you want to live, how much money you are planning to put into your down payment, and what type of loan you would qualify for.

While these elements can affect the choice of house you are about to buy, you still have to pay attention to the interesting attractions around the location of the house. Many attractions in Puncak Alam make the area your ideal first home!

Spend Your Quality Time with Interesting Activities in Puncak Alam!

There are a lot of interesting activities in Puncak Alam that will make it the ideal location for you to consider before buying a house. For example, you will get to spend time at the Jungle Lodge Malaysia to experience the wonders and beauty of a tropical rainforest. Other than that, you can also do mountain biking in a clean and comfortable place there.

There are also sports clubs nearby Puncak Alam that you can choose from. Tasik Puteri Golf and Country Club is a good choice if you like playing golf with family or friends. You can also opt for Denai Alam Riding & Recreation Club (DARC) if you wish to do activities like horseback riding, fish feeding and archery.

There are also places for interesting activities in Puncak Alam, like Mudtrekkerz Paintball Park and Setia Alam Community Trail for you to go to. By living within Puncak Alam, you get to spend quality time having fun and doing fun activities together with your friends, which makes for a great source of happiness. It can help you to release stress, cultivating good mental and physical health.

Retail Necessities as An Attraction in Puncak Alam for Your House Hunting

Retail necessities can also be considered an attraction if you want to buy a house. Whether you need to purchase groceries before heading out on an errand or simply visit a favourite boutique clothing store, having commercial properties near you can certainly make life easier.

Shopping nearby does not only offer the advantage of convenience but also avoids spending extra money on petrol and tolls. For example, one of the main attractions in Puncak Alam is Jaya Grocer for your grocery shopping. Other than that, there is also Lotus’s Puncak Alam, which can be your choice of hypermarket for grocery shopping.

Socialize with Friends for Your Weekend Activity in Puncak Alam

Thanks to their simple and tasty food, served in a small and calm setting, cafes are also important attractions in Puncak Alam. This makes Puncak Alam a great location for your house hunting. After a long and tiring week at work, you, of course, need to spend your best time catching up with your friends.

In Puncak Alam, you can enjoy your time with your loved ones at the café of your choice. Some of the cafes are Andra by Gula Cakery, Grab and Go Café, Hardcovr Café and The Ink Library Café. Not only suitable for dining in with friends, but cafes are also great places to work at! They are exciting, energetic, and enjoyable places to visit.

Get Your Dream Home and Enjoy Interesting Activities in Puncak Alam Now!

With all the attractions in Puncak Alam mentioned above, it is clear that living nearby Puncak Alam is a great choice for you. So what are you waiting for? Enjoy the best attractions in Puncak Alam and get the best property nearby with LBS Alam Perdana now! Contact us now to find out more about our property and projects!

If you decide to purchase a house, the first thing that should come to your mind is whether or not the place you are planning to live is safe. This is to avoid any kind of stressful situation in the future. If you find out that the neighbourhood is unsafe, then you’ll definitely want to think about another option. In addition to that, make sure that you pay attention to what people say about the place so that you can learn how good or bad it is.

Whether a property is desired or not usually depends largely upon the available surrounding amenities. Amenities make properties much more attractive to future buyers. For example, surrounding amenities in Puncak Alam make the properties located there become more appealing. Did you know that choosing a house with interesting surrounding amenities can be beneficial for you? Continue reading to find out more!

Participate in Leisure Activities with Amenities in Puncak Alam

If you are still clueless about the surrounding amenities that are essential for your future house, you can consider the public amenities below:

• Parks
• Schools
• Hospitals
• Public Transport

In Puncak Alam, there are various parks nearby, such as Lake Park Hillpark, Dragonfly Park @ Eco Grandeur and Forest Park Hillpark, that can be regarded as local amenities for you with an opportunity to unwind and engage in recreational activities.

By getting involved in leisure activities, you can adopt a more productive routine for your lifestyle. Other than that, amenities like Tasik Puteri Golf and Country Club are generally for people to socialize with others. You can meet the people within your local communities and put behind the stressful day at work for a while.

Nearby amenities in Puncak Alam let you engage in various exciting activities among people around your neighbourhood. Whether it’s a park where you can play sports or just take a stroll through the woods, these places are great for getting exercise, spending quality time with friends, and improving your overall mood!

Healthcare Amenities in Puncak Alam as The Best Emergency Assistance

With so many things at stake, some people might easily overlook the need for medical services in the excitement of finding a perfect house. Residing nearby a hospital gives you easier access to visit your doctor or medical professional if any medical emergency arises.

Malaysia has amongst the world’s highest standards of public health care services. With such high levels of health care, it would greatly benefit residents in areas where hospitals are situated close by. Other than that, it can also bring peace of mind knowing that if any medical emergencies were to occur, fast expert medical help would only be minutes away.

In Puncak Alam, a nearby hospital, Al-Sultan Abdullah Hospital (UiTM Hospital), can be your medical service provider during an emergency. Hence, this is one of the benefits of living and enjoying amenities in Puncak Alam.

Amenities in Puncak Alam – Adding Value to Your Life!

Public amenities are considered an essential element that can add value to your life. If your property is located near road networks and public transport, you and your family get to enjoy the benefit together. Considering the benefits listed above, the amenities in Puncak Alam add value to your life and your family and friends that live together or not living together with you.

Now, when you are looking for a house, it is clear now that the surrounding amenities are also important in choosing which location suits you best. One of the best locations that you should consider in purchasing a house is Puncak Alam!

Enjoy Amenities in Puncak Alam with LBS Alam Perdana Now

Enjoy the surrounding amenities in Puncak Alam with LBS Alam Perdana! Located in Alam Perdana, you will get access to nearby Puncak Alam too. Contact us now if you have any inquiries about our property and ongoing projects!

Looking for a suitable house to your preference is not an easy job. There are a lot of things that should be taken into consideration, such as the price, accommodation, neighbourhood, proximity to work and schools. Did you know that there are other important factors that you should think of before buying a property?

That important factor is the surrounding amenities such as schools, parks, groceries and shopping centres nearby. While some people might overlook it and not bother to think about it, having the best surrounding amenities around your house is still important and can make your life easier.

Just imagine living in a safe neighbourhood where people can walk around easily or ride bikes everywhere; your life is basically completed. One of the perfect locations to buy your house is in Alam Perdana for its great facilities and surrounding amenities. Continue reading if you want to know why choosing a house nearby amenities is a wise choice!

Basic Amenities in Alam Perdana Can Reduce Your Stress Level!

Just in case you forgot, basic amenities around your house can add a lot of value to your life. You and your family could save your valuable time and money by avoiding commuting long hours to send your children to school. In Alam Perdana, there are a lot of public and private schools, such as Sekolah Kebangsaan Puncak Alam and SR Integrasi Al-Hikmah.

Other than that, you also do not have to take a lot of time to commute to buy groceries every weekend in Alam Perdana. There are Jaya Grocer, Eco Grandeur nearby, as well as Econsave in Puncak Alam you can go to. By this, you can also save a lot of your time. As time is our most precious possession, residing in a house that has basic surrounding amenities is a wise choice!

Alam Perdana Surrounding Amenities to Fill Your Favourite Lifestyle

If you want to decide on buying a house, you should also consider the lifestyle that you like to live in. The surrounding amenities located nearby your house will serve a certain type of lifestyle, and if you choose wisely, your life will be better. This is because you will get to enjoy the activities that you prefer.

For example, if you decide to buy a house located in Alam Perdana, you can spend the best time with friends and loved ones at the nearest café such as Starbucks Eco Grandeur and local Kopi Drongo. Other than that, if you prefer an active lifestyle, there is a basketball court in Ritma Perdana & Melodi Perdana that you can go to.

Surround yourself with People of The Same Interest with Facilities and Amenities in Alam Perdana

Believe it or not, basic facilities and amenities around your house can influence the kind of neighbourhood that you will get into. For example, if you live in Alam Perdana, places like Lake Park Hillpark, Dragonfly Park @ Eco Grandeur and Forest Park Hillpark, you are most likely to attract people who like outdoor activities and exercises like jogging or brisk walking here.

A place where amenities abound is where a group of people who share similar interests gather together and become a knit group. However, if your house lacks surrounding amenities, then no one comes around to meet new friends and create a community. You might think this is a small matter, but it’s actually important to choose a place that suits your interest!

Choose Wisely – Alam Perdana with Its Surrounding Amenities, is Your Perfect Location!

Basic amenities enhance our quality of life and make our surroundings more beautiful. If you want to buy a house, you don’t only need to consider the inside of the house; you also need to take into consideration the surrounding area. In short, buying a house with enough surrounding amenities is important.

As mentioned earlier, Alam Perdana is one of the best locations to live in. Facilities and amenities in Alam Perdana are suitable for you to live with your family and loved ones. Discover the best property according to your preference in Alam Perdana with LBS! Contact us now or visit our nearest sales gallery if you have any inquiries about our projects.

Puncak Alam was just another oil palm plantation land a few years back, and almost nobody knew where it was, and those who have heard of it thought it was yet another land with no further developments. However, LBS Bina Group Berhad sees this land as an opportunity for luxurious modern buildings to prosper.

Subsequently, many other developers see the same vision for Puncak Alam and have decided to proceed with many new condominium projects. As a result, many sub-townships were developed. To date, Puncak Alam comprises various residential areas and a portion of commercial and industrial lands.

Currently, Puncak Alam is considered one of the ideal places to live. Not only was it filled with affordable luxurious properties, such as the double-storey terrace houses (at RM492,000), townhouses (at RM388,000), and Semi-D houses (at RM679,000), but it also has several shopping malls (Tesco, Econsave and Jaya Grocer, primary and secondary schools, recreational facilities, as well as clinics, petrol stations, banks, and more!

If you're looking to enjoy a sub-urban yet lavish lifestyle in Puncak Alam, then you definitely have to check out this new apartment project by the LBS Bina Group named Melodi Perdana, and here's why:

Experience the best high-rise living compared to other Puncak Alam condo 

Many condominiums in Puncak Alam focus solely on their condo bedrooms, how well they look on the outside, and how many other amenities they have to make your life more convenient. 

While Melodi Perdana has the same focus for their apartment bedrooms and facilities, we went out of our way to ensure that the three most important factors for house buyers, namely, the apartment's affordability, connectivity, and community, are optimised!

Yeap! Can you imagine waking up in an apartment with a lush greenery neighbourhood and an inspiring community that's in a location so perfect where your home is connected to major highways and landmarks? Yes, all of this is available at an affordable price if you choose to buy Melodi Perdana in Alam Perdana, Puncak Alam!

Elevated level like a condo in Puncak Alam, but better

We understand that homeowners are afraid of buying a condominium with compact living rooms and tiny bedrooms. This is why, unlike other new condo projects in Puncak Alam area, Melodi Perdana apartment ensures the comfort of our residents is at 100% by maximising its interior space, especially for elevated levels. 

When designing and developing the Melodi Perdana apartment, we've decided not to sacrifice the apartment space in exchange for more units for the building, which a lot of other developers do. This is why Melodi Perdana only offers one type of layout; a 901 sq ft unit, with 3 bedrooms and 2 bathrooms. 

We can name more things on why Melodi Perdana is a better high-rise residential building compared to other condos in Puncak Alam, but why not experience it yourself?. How? Just click here and have a look at it yourself!

Impressive amenities for a comfortable lifestyle

The best thing about the Melodi Perdana apartment is that it has a total of 37 facilities altogether. It doesn't matter if you're living alone, with a partner, or a family, here at Melodi Perdana apartment, we believe that there's no reason for anyone to miss out on the better things in life. 

From the family pool to the multipurpose hall to sports facilities and many more, LBS Alam Perdana has brainstormed every possible thing for every person to enjoy while ensuring that the price per unit is more competitive than other condominiums in the Puncak Alam area.

We welcome you to take a look at our sales gallery, and you'll see how Melodi Perdana offers the same amenities that other high-end condominiums offer, if not better, at a more reasonable price.

A better condo to satisfy your every need: Melodi Perdana, Puncak AlamBy optimising the convenience and the safety of your home, Melodi Perdana wishes to provide you with the best amenities to suit the lifestyle you deserve. From the ease of accessibility, facilities and safe and guarded community, everything is well thought out in creating a healthy and harmonious environment for homeowners like yourself!

Currently, Melodi Perdana is starting from an affordable price of RM334,707 for a 901 sq ft apartment. Are you not convinced by our Virtual Reality room? Then why not book an appointment with us and visit our sales gallery? Contact us now!

Related article: Shah Alam property seekers are on the rise but they are also curious about this one particular township

Bandar Hillpark and other projects at the prime location of Puncak Alam undeniably have become the next best place to thrive by capitalizing on the spillover opportunities from mature and densely populated cities and Puncak Alam stands to be that viable and beneficiary township that will appeal to singles, couples and families alike.

We will lay it out to you in the simplest way possible, from a macro to micro perspective on why you should pay attention to Puncak Alam and ascertain if this should be the prime time for you to move in here to grow and prosper.

Bandar Hillpark: Riding On Puncak Alam’s Proven Prospect

Designated as the “Education Town” by the state government for its close proximity to tertiary institutions such as Universiti Teknologi Mara (UiTM), Universiti Selangor and Malaysia-Japan Technical University, Puncak Alam already has all the right ingredients to be a full-fledged township. So, what are those ingredients?

i. Excellent Accessibility

Located close to conurbations of Klang Valley, Puncak Alam is accessible via Latar Expressway, Gutrie Corridor Expressway, North-South Highway (PLUS), New Klang Valley Expressway (NKVE), and ELITE Highway.

The recent completion of the Damansara-Shah Alam Expressway (DASH) and the West Coast Expressway (WCE) makes Puncak Alam a greater accessibility value than many other prime locations that do not even have that chance to possess such privilege.

ii. Wealth Of Amenities & Facilities

Already well known for its education hub, the fine addition of the new Hospital UiTM provides a much-welcomed healthcare solution to over 3 million folks at Puncak Alam and other parts of northern Selangor.

This is on top of the many already available amenities to facilitate the daily conveniences of the residents at Puncak Alam.

iii. The Prospect Of Growth Is Only One Direction, Which Is Up

It is truly hard to deny that the growth prospects of Puncak Alam will be inevitable. Not only one, but several top developers throughout Malaysia already set foot in Puncak Alam years ago to build and definitely expand its property development portfolio.

The engine of the economy has started many years back and it is evidently foreseeable that such momentum will not stop anytime soon.

iv. Puncak Alam Is Still An Underpriced Development, Given The Current State Of It

With a median price psf that is still far below its true value, you will be hard-pressed to find a township that holds a huge potential.

Albeit that it is located quite remotely from Shah Alam and Klang Valley, it also means that you can still enjoy the untouched greenery and natural vistas within the comfort of your home.

Bandar Hillpark may have capitalized on the greener prospects of Puncak Alam’s township, but it comes with a higher price tag. Why not expand your choices with another developer that offers the same living advantages as Bandar Hillpark, yet at a fraction of a price?

LBS Alam Perdana – The Affordable, Quintessence Of Living Within Nature At Puncak Alam

The 469.86-acre mixed development was launched in 2017 to offer one of the most affordable living lifestyles, yet able to enjoy the verdant greens and vivid blossoms in the heart of Puncak Alam.

Offering from feature-complete exquisite apartments at Melodi Perdana to a fine collection of Semi-D’s at Rentak Perdana, Alam Perdana offers almost everything that you could ever want in a comfortable living in a prime location within nature, yet at a superb value that you could not possibly get within the vicinity.

 

More Affordable Option Than Bandar Hillpark Property For Sale: Alam Perdana At Puncak Alam

With a starting price from just RM334,707 for a 901 sq ft apartment at Melodi Perdana to a 1,959 sq ft semi-D from RM678,807, Alam Perdana is truly an affordable option for aspiring property buyers when it comes to pricing.

However, the price itself does not justify enough to purchase it. So, what do we mean when we mention the superb value?

Other than the ease of accessibility, strategic location and superior construction quality that is applied throughout all the property types in Alam Perdana, there are several implementations that create a healthy foundation to match the living within nature lifestyle.

For landed properties, there will be community centres, sports courts (like futsal courts), playground/jogging tracks, gazebo, back-lane gardens and an open lawn.

For high-rise properties like Melodi Perdana, there will be community centres, swimming pools, gymnasium, cafeteria, kindergarten, games room and playground.

See to believe it. Log on to https://lbs-alamperdana.com.my/ and book a visit to our sales gallery. Limited units for selected projects; do contact us to see what’s available for you.

 

Related article: Shah Alam property seekers are on the rise but they are also curious about this one particular township

 

Citations:

https://www.nst.com.my/news/2017/03/225657/puncak-alam-see-greater-development

https://www.edgeprop.my/area-outlook/selangor/bandar-puncak-alam

https://www.sinarharian.com.my/article/129933/BERITA/Nasional/Hospital-UiTM-Puncak-Alam-beri-manfaat-3-juta-penduduk

The pandemic damaged the year 2020 has left a sour taste in our mouths, causing us to be more careful than ever both socially and financially.

A lot of us have realized the importance of having safe reserves to help us weather through turbulent times, some might even delay major purchases like buying a house.

Source: https://unsplash.com/photos/Io_GhNrbOsw

“Antifragile” is when something is actually strengthened by pain – Nassim Taleb, author of the Black Swan Theory.

The Covid-19 pandemic may have highlighted the vulnerability of our system, but we have definitely emerged stronger after recovering from the initial shocks, exhibiting traits of antifragility.

The resumption of business activities and various stimulus measures by the government has helped restore confidence and certainty as an aggressive implementation of vaccines is in place.

Various property developers are also expanding their marketing efforts by offering discounts, rebates, freebies, and attractive financing schemes to stimulate the property market.

With these many incentives on the back of a recovering economy, we believe there is no better time than now to look for a house for sale in Kuala Lumpur, and here are reasons why.

Living In KL – A Prime Hub

Source: https://unsplash.com/photos/HxJvFZGfSHM

As a prime hub for metropolitan homes, houses for sale in Kuala Lumpur are the preferred choice for property hunters.

Often viewed as a safe haven during troubled economic times, properties in Kuala Lumpur are desired by many as a hedge to inflation.

The Best Time To Buy Houses In KL Due To Record Low Interest Rates

The central bank of Malaysia has set its Overnight Policy Rate (OPR) to 1.75%; the last time it fell was as low as 2.00% during the subprime crisis of 2008.

The OPR is an important indicator because it serves as the main reference rate for retail floating rates that banks use to price their interest rates in the form of base rates.

Do not underestimate the difference between a few percentages of the interest rates as compounded interest can breach tens of thousands of ringgits with just a difference of 0.50% within a span of 30 years. To illustrate:

Loan Amount (RM)	Interest Rate	Monthly Installment (RM)	Total Interest Payment (RM)
500,000.00	4.0%	2,148.37	323,412.78
500,000.00	3.5%	2,020.70	277,452.39
		Net Savings	45,960.39
*Assuming 10% downpayment and loan period of 30 years

 

According to Albert Einstein, compound interest is the eighth wonder of the world. With just a lower interest rate of 3.5%, you can actually save a total of RM45,960.39.

Did you know that 0.50% of interest savings can actually get you a brand new Perodua Myvi?

Source: https://www.perodua.com.my/our-models/choose-model.html

In case you are wondering since 0.50% of interest rate savings can result in such a big amount compounded over time, isn’t it better that we wait for further interest cuts?

While we can confidently say that no one can predict the future, *cough* Covid-19 Pandemic *cough*, the central bank of Malaysia has maintained the OPR level at 1.75% for 4 consecutive meetings since September 2020.

If anything, we expect that an interest hike is more likely than an interest cut, so it really is a now or never situation if you are on the lookout for attractive financing plans.

Be It Landed Like Terrace House Or High-rise In Kuala Lumpur, They Are Highly Desirable

The cultural center of Malaysia, a melting pot of cultures and traditions, it hardly needs to be elaborated further that living in Malaysia is the embodiment of different heritages.

The cuisines, languages, and even architecture are all distinctive characteristics that Malaysians can be proud of.

As such, Malaysia has long welcomed property hunters from various corners of the globe who are seeking to make Malaysia their second home, notably in Kuala Lumpur.

Source: https://www.theedgemarkets.com/article/world-bank-projects-malaysias-economy-contract-31-2020

With global institutions like the World Bank has projected such favorable growth for our nation moving forward, it is reasonable to observe that the demand for houses in the capital of Malaysia, Kuala Lumpur to perform in a similar direction.

It is time for you to start digging into that house fund you have been saving up for so long to capitalize on this opportunity!

Source: https://unsplash.com/photos/G-Aj03ckq0w

New House for Sale In Kuala Lumpur To Meet Market Demands

As denoted in the latest report by PropertyGuru, the overall supply is expected to stay resilient. This means that there were more houses that were supplied via listing on PropertyGuru in 2021 than in 2020.

According to the same report by PropertyGuru, it is worth noting that approximately 50.5% of the new residential launches are houses priced below RM300,000. This suggests that the market is ripe for bargain hunters in 2021.

If you are seeking a house for sale in Kuala Lumpur with a smaller budget, it is imperative that you look for one that is developed by a reputable property developer with a proven track record.

LBS Alam Perdana – An Integrated Township Development near Kuala Lumpur

Sitting on a 469.86 acre of land, LBS Alam Perdana is LBS Bina’s answer to fulfilling the 3 most important criteria every home buyer is looking for: affordability, connectivity, and community.

With selling prices starting from RM334,707 for Melodi Perdana apartment, RM388,740 for Ritma Perdana townhouse, and RM492,807 for double storey terrace house, LBS Alam Perdana has something for everybody!

Click here for more information!

Located in the rapidly growing pockets of Kuala Lumpur such as Puncak Alam and Sungai Buloh, the development is easily accessible via various established infrastructures such as Latar Highway, Guthrie Corridor Expressway, North-south expressway, NKVE, Persiaran Mokhtar Dahari, and the upcoming Dash Highway.

Accessibility is very well thought out with this project.

Beyond that, the developer aims to build a township that brings its community together and fosters a sense of belonging within the vicinity.

True to their words, each development within the township is fully equipped with over 30 facilities such as recreational gardens, yoga lawn, barbeque area, relaxation corner, lake park, back lane garden, and several sports courts to foster communal living.

As a self-sufficient township with a good mix of landed residential developments, commercial developments, and affordable homes, LBS Alam Perdana is the place to be for the year 2021.

Combined with the encouraging macroeconomic and historically low interest rates, the year 2021 will be the year to scout for houses for sale beyond Kuala Lumpur.

Related article: Latest Guide 2021 For The First Home Buyer In Malaysia

 

Citations:
1) https://cdn-cms.pgimgs.com/pmi/2021/03/PGMY_PMI_Q1_2021_Full_Report-FINAL.pdf

2) https://www.theedgemarkets.com/article/imf-maintains-malaysias-gdp-growth-65-year

3) https://www.theedgemarkets.com/article/world-bank-projects-malaysias-economy-contract-31-2020

4) https://www.calculator.com.my/home-loan-calculator#.YHaPfugzaUk

5) https://www.propertyguru.com.my/new-property-launch/reviews/lbs-alam-perdana-puncak-alam-203935

6) https://www.clearwealthasset.com/einsteins-8th-wonder-of-the-world/

Sun Tzu, military strategist during ancient China. The author of The Art Of War.

“In the midst of chaos, there is also opportunity”. – Sun Tzu

The year 2020 is a tumultuous year for us Malaysians. With the pandemic of COVID-19 and the economic repercussions, there are uncertainties and doubts on whether it is a good time to commit for big-ticket items which in the purpose of this guide; a property of your own.

However, like all things in life, every bottom has its limit. Downsides preceded with huge upsides. Mishappening turns into fortune. Believe us when we say that first time home buyers in Malaysia are in for the greatest treats that they will ever experience.

We are aware that being a first-time buyer does not necessarily mean being a beginner. This guide serves as a structural approach in a step-by-step manner to facilitate as a basis in making your first purchase as worthy as possible, especially in this golden moment. The internet will be your best resource to continuously update your strategies and complements well with this guide.

Before We Begin, Few Assumptions To Note:

• You will be taking up a housing loan to buy your first home
• You have identified the location of your interest to settle in
• You know the type of properties that you want to be based on your priorities (career growth, family living, etc.)

Step 1: Your Budget

Remember to save down this important formula calculation, not only will it help you manage your monthly finances. This is what banks used to determine if you are qualified for a loan (explained further in Step 3):

For example, assuming you are:

Making a monthly income (after tax, EPF, SOCSO, etc.) of RM5,000
Paying monthly commitment of RM2,500 (commitments can be car loans, personal loans, credit cards, etc.)

Your DSR (before taking a new housing loan) will be:
DSR = RM2,500 / RM5,000 = 0.5 or 50%

Let’s say that you are buying a new house with a monthly loan commitment of RM1,000, your DSR will be:
DSR = RM2,500 + RM1,000 / RM5,000 = 0.7 or 70%

What does this mean to you?

In layman terms, the higher the DSR is, the riskier it is for you to be able to service your monthly commitment. To the bank, this formula determines whether they would approve the housing loan that you applied for. As an estimate (at this point of time), banks in Malaysia would approve the loan at a minimum of 0.6 (60%) DSR, and some banks can go as high as 0.8 (80%) DSR.

Ask any financial guru/advisor and they will tell you that as an act of prudence, allocate no more than 30% of your take home pay (monthly net income minus monthly commitment) to pay for your new housing loan monthly repayment.

It is up to you to what extent of how prudent you want to manage your finances, but make no mistake: Banks will always use this as a cardinal rule to grant you the key to the house (no pun intended).

Step 2: Finding Out The Real Cost Of Your New House

To make things simple, the general rule of thumb in buying a house comes down to this: How much do I have to pay now, and how much do I have to pay down the road.

So, assume that you wanted to buy this new house with a selling price of RM500,000. The calculation of additional substantial charges would be as follows (taking a housing loan with 90% margin, charges are estimates only):

• SPA (Sales & Purchase) Legal Fees: About RM5,000
• Loan Agreement Legal Fees: About RM4,500
• Stamp Duty on MOT: About RM9,000
• Loan Stamp Duty: About RM2,250

Notwithstanding the downpayment that you have to place (normally 10% of the selling price of the house), be mindful of other charges that will be incurred including but not limited to the below:

• Mortgage Reducing Term Assurance (MRTA)
• Fire insurance, Quit rent & assessment fees (payable annually)
• Maintenance fee & sinking fund (for properties with additional facilities, commonly exist in high-rise types like condominiums)
• Loan interest (factored in as part of your monthly loan instalment)

Step 3: Qualifying For A Loan

As mentioned in Step 1, banks use Debt Service Ratio (DSR) as a beginning, important indicator to assess if you are eligible to get a housing loan based on the applied loan margin.

The easiest and arguably the best way to find the best housing loan deal with tons of useful information and tools like loan calculators would be Loanstreet at https://loanstreet.com.my/home-loan .

Before shopping for the best housing loan though, you need to know that one of the criteria that banks normally assess your current repayment capacity is through a credit report from Bank Negara Malaysia called Central Credit Reference Information System (CCRIS). How does a CCRIS report look like?

This CCRIS report is how banks evaluate your repayment capacity. Other than calculating your monthly commitments (denoted in column K), typically a bank will look into column N to see your monthly repayment habits and column O for legal status. Anything adverse, most banks if not all will not approve your loan request. Speak to your bank loan officer to find out the best way to get your housing loan approved.

By the way, do you know now that you don’t have to obtain your own CCRIS report physically through Bank Negara Malaysia? Now, you can obtain it conveniently for free by registering directly with Bank Negara Malaysia’s eCCRIS portal at https://eccris.bnm.gov.my/ .

You Must Read This: The Sweetest Bargain Ever For First Time Home Buyers

Words cannot describe enough how privileged are first-time home buyers now. We are not talking about typical offers like free legal fees and so on. These campaigns below literally will save you so much more money and upfront commitments, that existing buyers can only look at you full of envy.

Before we outline this, it is awesome to know that at this point in time, our country’s overnight policy rate (OPR) now stands at 1.75%. If it was last year in 2019, the OPR was 3%. In other words, the housing loan interest is now lower by 1.25% which translates to cheaper instalment.

Must-Have Deal: House Ownership Campaign (HOC) 2020-2021

HOC was a government initiative designed to support homebuyers looking to purchase the property. At the same time, it also encouraged the sales of unsold properties in Malaysia’s housing market.

It was first announced in 2019 and now, Prime Minister Tan Sri Muhyiddin Yassin has announced that HOC is back, taking effect from June 2020 till May 2021.