{"id":44779,"date":"2020-09-28T15:15:50","date_gmt":"2020-09-28T07:15:50","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=44779"},"modified":"2020-10-15T09:22:25","modified_gmt":"2020-10-15T01:22:25","slug":"get-your-dream-home-with-only-rm1","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/get-your-dream-home-with-only-rm1","title":{"rendered":"Get Your Dream Home With Only RM1"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Spending long hours indoors in recent months for the sake of our health and safety must have got many Malaysians thinking more about their future. And for most, a dream home will likely be in the horizon.<\/p>\n

A recent survey<\/a> has shown that Malaysians, ranging from those looking for their first home to existing homeowners and investors, do not plan to delay property transactions this year.<\/p>\n

So, if you are currently looking for a home in a better location, more room for your family or you\u2019re an investor on the lookout for a good property investment now, here\u2019s why you should not miss out on this opportunity.<\/p>\n

UEM Sunrise\u2019s \u2018The Happy Chase\u2019 campaign is offering easy entry for buyers to own a home with attractive rebates and rewards on top of what is already offered under the government\u2019s national Home Ownership Campaign (HOC) 2020 – 2021.<\/p>\n

During the duration of this campaign, you can get hold of your dream home for just RM1 booking fee.<\/div><\/div>\n

\"\"<\/a><\/p>\n

<\/span>How to get additional savings on your property purchase<\/strong><\/span><\/h2>\n

If the low interest rates and additional savings from the HOC 2020-2021 are attractive enough for you to start thinking about buying a property this year, here\u2019s how you can take advantage of these market conditions by making your move now.<\/p>\n

1. Low interest rate environment<\/strong><\/h3>\n

Malaysia\u2019s overnight policy rate (OPR)\u00a0hits a record low at 1.75% in July 2020. A low interest rate environment like this may not be seen again in the coming decade. So, if you are in the market for a property purchase, you should not miss out on this opportunity.<\/p>\n

The Base Rate (BR) of your home mortgage is based on the OPR set by Bank Negara Malaysia. Getting your loan in this low interest rate environment means starting your mortgage at a much lower BR. Since BNM only reviews the OPR every quarter<\/a>, the low interest rate you are getting now will not change drastically overnight.<\/p>\n

In fact, the OPR stayed within a range of 2.75% to 3.25% from 2010 to 2020<\/a>. Getting a home loan now means benefitting from a low BR starting at 1.75% to give you a head start in interest rate savings.<\/p>\n

Here\u2019s how you can get massive savings if you get a home loan now:<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t
Loan amount<\/th>RM500,000<\/th>\n<\/tr>\n<\/thead>\n
Loan tenure<\/td>30 years<\/td>\n<\/tr>\n
Base Rate (BR)*<\/td>2.80%<\/td>2.80% - 0.25%*
\n
\n= 2.55%<\/td>\n<\/tr>\n
Home loan interest rate<\/td>3.60%
\n(2.80% + 0.8%)<\/td>		3.35%
\n(2.55% + 0.8%)<\/td>\n<\/tr>\n
Monthly repayment<\/td>RM2,273<\/td>RM2,203<\/td>\n<\/tr>\n
Total interest paid over 30 years<\/td>RM318,362<\/td>RM293,284<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n
*based on the bank reducing BR by 0.25% when the OPR is reduced by 25 basis points.<\/sup><\/em><\/h6>\n

2. HOC benefits from the government<\/strong><\/h3>\n

Under this campaign, buyers of properties priced between RM300,000 and RM2.5 million will get stamp duty exempted for the first RM1 million. This exemption is available until May 2021. In short, this allows you to pay much lower or even no stamp duty at all for your property purchase.<\/p>\n

Here\u2019s an example of how much you can save in stamp duty payments now.<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t
<\/td>Property price RM500,000<\/th>Stamp duty amount<\/th>\n<\/tr>\n<\/thead>\n
Stamp duty for the transfer of ownership title<\/td>1% for the first RM100,000
\n
\n2% on the next RM400,000
\n3% on additional amounts above<\/td>		RM9,000<\/td>\n<\/tr>\n
Stamp duty for RM450,000 loan amount ((minus RM50,000 paid for downpayment)<\/td>0.5% of loan amount<\/td>RM2,250<\/td>\n<\/tr>\n
<\/td>Total savings on stamp duty<\/td>RM11,250<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

This savings in stamp duty payments can instead be put towards the downpayment, renovation and other costs.<\/p>\n

3. Lower barriers to enter the property market <\/strong><\/h3>\n

From first-time homebuyers to investors, the barriers to enter the property market are much lower now with the additional initiatives from the government.<\/p>\n

Under the earlier government\u2019s Economic Stimulus Package (ESP), the revised voluntary Employee Provident Fund (EPF) contribution from 11% to 7% adds up to a larger take-home pay for salaried employees which can translate to being able to afford higher monthly instalment payments for property purchases.<\/p>\n

As for property investors, there\u2019s the added incentive in the lifting of 70% margin of financing limit for the third housing loan onwards among the short-term schemes under the government\u2019s PENJANA Short-Term Economic Recovery Plan. This means a much lower downpayment for your third home onwards.<\/p>\n

<\/span>Good homes, great locations from a reputable developer<\/strong><\/span><\/h2>\n

UEM Sunrise is running The Happy Chase campaign to allow Malaysians to utilise all the incentives offered under HOC by the government with additional rewards and perks under the campaign.<\/p>\n

This campaign offers house buyers every savings possible to make it easy to own a UEM Sunrise property. There are 27 projects available under this campaign to cater to all types of property investors.<\/p>\n

<\/p>\n

Chase your dream to own a home with just RM1*<\/strong><\/a><\/p>\n

Put your dream home within reach with these exciting offers<\/p>\n