Unlike the West, where many studies have explored how people’s needs can be fulfilled by financial exposure, Malaysia has received very little attention from the young graduates and the carrier beginners. One reason for this is the delivery system on the financial scheme and the techniques on how to manage their wages is not to be maximum explored. Although folk art and stories have chronicled a long history of Malays championing the business and become entrepreneurs during Malacca time, nowadays these spaces were only accessible to royal family members, corporate families, yuppies and autocrats.In Budget 2011, the concept of full loan for the first house scheme is relatively recent, having been introduced by the government. The aim is not to deny the chances of having a house for every youngster who just starts their carriers. Many young men are always being introduced by the hire purchasing loan for their dream cars and they don’t realize a car is just a liability if it is not having the economic returned. Few years later they will roped by the personal loan after tied up with someone their love. In addition, the boy meet the girl and they dates with the car which is still under loan probation and finally they get married with the help of personal loan. They rent a house and might take three to five years to own a house. With the new scheme perhaps it helps a lot for them for at least they don’t need to provide the first ten percent of deposit.
Here are some insensitive were announced to encourage the first time residential properties.
• 50% stamp duty exemption on the loan agreement instrument.
• 50 % duty exemption on instrument of transfer.
• For the first time purchaser with household income less than RM 3000, the purchaser will obtain 100 % loan
Properties of cruel new world are damn crazy. The price is beyond the expectation. The speculations on price have made the price too high based on location. Milan Doshi ever said KL one day will be like Melbourne where people just renting a room and bit by bit it happens now and that’s what they said about the bubble effect on properties sector.
I was once asked by few friends who are much younger than me about buying a property. I said just buy and if they don’t buy now, the price would be much higher in the future. I suggest that are few factors they should consider which are the accessibility, basic infrastructures, distance and location, and most important thing is what is their budget’s like. Some of them are interested in buying a car and spend their money for travelling. I think the free advice had been ignored and they will regret later.
In that case, it points out that they preferred things to be show off or can be shown physically and the style socializing activities. Denying the priority in life is something big risk for a long run. They are still young but they have to think about this. Defragmenting process of thinking by arranging the priorities is a kick start to put our life changing colors. My mom ever said " biaq banyak rumah, jgn banyak dlm serumah". Own a house or regret later.
