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GET YOUR FIRST HOUSE OF DREAM NOW | Assalamualaikum. How are you today? Hope everything is OK. Today I like to share about the dream of own home. First of all, Make use of these government scheme to get your first house. Let's learn about the opportunities provided by Malaysia government.

Getting your first house marks a milestone in your life especially getting your dream house. What’s troubling these days is that youngsters capability to afford a house. Malaysia’s house price has been increasing and the younger generations have difficulties to buy a house, let alone the downpayment. Since then, Malaysia government has detected the concerns and came up with initiatives to aid younger generations, the millennials. The initiatives and aids by Malaysia government is to help all young Malaysians to get their first house, be it an apartment in Penang or a terrace house in Kelantan. Be sure to keep in mind all these initiatives and schemes just for us!

My First Home Scheme (Skim Rumah Pertamaku)

My First Home Scheme was introduced in year 2011 budget by government to help young working adult to purchase their first residential property. This scheme allows young adults to obtain 100% financing from the participating banks or financial institutions, without the need to pay 10% downpayment at the same time. This is to align with government’s aspiration to increase home ownership for the “rakyat”.

The criteria are simple, as long as you’re first time home buyer working adult with a single monthly income of less than RM5,000 (less than RM10,000 for joint borrowers). Your residential property has to be in between the value of RM100,000 to RM540,000 in Malaysia, which you could easily get them in the cities like a single storey terrace house in Melaka or an apartment in Penang. As we get down to financing requirements, the tenure should not exceed 35 years and repayment of total financing obligation must not be more than 60% of your net monthly income or maximum financing limits. Check here out for the participating banks that tie to this scheme.

PR1MA (Perumahan Rakyat 1Malaysia)

PR1MA was established under the PR1MA Act 2012 for the middle income earners, which is to build high-quality houses in key urban centres. All Malaysians aged 21 and above with a monthly individual household income between RM2,500 to RM15,000 and have not own a single property are eligible to apply for this. Residential properties build by PR1MA are priced in between RM100,000 to RM400,000 which comes in various types and sizes to suit different household. Mind you, the houses build by PR1MA are pretty modern like the apartments in Ipoh, Perak and Batu Feringghi in Penang. Check here out for houses build by PR1MA.

It’s pretty simple to apply for PR1MA. All you need to do is to register your interest in PR1MA website and you will be notified for the launch of the developments in your preferred locations. You will be informed to apply for developments and submit your entry for balloting. The balloting process is open and transparent and will be conducted to those who have fulfilled the criteria. After the ballot, you will be able to select your unit of your choice based on first come first served basis. Here comes the financing part where PR1MA Home Assistance Programme that offers financial solutions for you to purchase your PR1MA that comes in variety and flexibility ensuring you will get your first house with PR1MA. Second last step, sales and purchasing agreement (SPA) is for you and developer to sign the agreement as the Purchaser of the Property. Lastly, handover of vacant possession, which you will be issued with Certification of Completion and Compliance and your very first PR1MA will be handed over to you.

MyHome Scheme             
It was announced by our Prime Minister Dato’ Sri Najib in year 2013 which was then commenced in year 2014, where it encourages private developers to build affordable houses for Malaysians. This scheme’s initiatives is offering up to RM30,000 incentives per unit to benefit young adults. In year 2015, government has allocated RM300million funds to build 10,000 units of affordable housing across Malaysia.

To be eligible for MyHome, your citizenship must be Malaysian aged 18 and above. First time home buyer with one application for the household with monthly income between RM3,000 to RM6,000. Houses offered by MyHome scheme are build with 3-bedrooms and 2-bathrooms, they could be either single/double storey terrace houses or apartments. For example, an apartment unit in Perak is selling at RM80,000 to RM120,000 in the market but with MyHome scheme, you are given a deduction of RM30,000 which makes up the actual selling price at RM50,000 to RM90,000. With this scheme, it definitely aids younger generations to start surveying around and purchase their first house in Malaysia.

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  1. A few of the PRIMA houses actually have good locations. Just need to choose wisely

  2. teringin nak takboleh.. hihihi.tengok aje..bagi laluan kpd yg memerlukan

  3. thanks sis! sy ada trfikir jgk nk minta pr1ma


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