Many newly married couples dream of purchasing a home together. In fact, buying a home may often be a first-time experience for both husband and wife and will also be one of the most expensive purchases a new couple will ever make. Thus, it is extremely important for both parties to be well prepared and cautious when looking at and ultimately purchasing their dream home. Of course, given the way the pandemic has wreaked havoc in our daily lives, you may be wondering if it is even possible to buy a home during such uncertain times. The short answer is yes; because at the end of the day everybody needs a place to live and if the pandemic has taught us anything, it is that we need to be comfortable, safe and love our home if we are to stay in it for extended periods of time.
Over the past few years, the government has been encouraging developers to build more affordable homes to cater to the needs of the people. As a leader in the affordable housing industry, Hua Yang Berhad knows that it can be a struggle finding your dream home within your budget and has always made it their goal to provide quality homes at affordable prices. Indeed, it is very possible for newly married Malaysians to own their dream home and to help couples safely and wisely navigate their way towards that dream, here are a few steps they should follow.
1. Discuss Your Budget
The fundamental issue in purchasing a home is choosing one you can afford. Therefore, you and your spouse should have an honest talk about your finances to ensure you’re both on the same page with regards to how much you would be able to spend on a home. Also ensure you are able to set aside the amount required for a downpayment.
2. Set Your Priorities
Another thing to consider is what kind of design and size your dream home should ideally have. If you can anticipate having a large family, then one or two bedrooms may not be sufficient. Also consider what kind of community or neighborhood you wish to be located in. Some people prioritise a neighborhood close to their jobs while other perhaps would prefer to live nearby a good school. For this, you would need to sit down with your spouse to discuss and compromise on the features you want in your home.
3. Do Your Research
As with any big purchase, you should do some research into the types of homes that fit your budget, the neighborhood where you intend to move to as well as the type of features you consider essential in a home. A cardinal rule of home buying is that you shouldn’t rush into a purchase because unlike shoes or a dress, you won’t be able to return it if you don’t like it.
4. Take Advantage of Financial Incentives Offered
The reintroduction of the Home Ownership Campaign (HOC) means that buyers will be able to enjoy financial incentives by both the government as well as developers. Right now would be a good time to capitalise on the low interest rates and incentives offered under the HOC and the developers. In addition, the Overnight Policy Rate (OPR) currently sits at 1.75% making it even affordable to own a home now.
5. A Buyer’s Market Means More Opportunities
In a buyer’s market, there are more homes for sale than potential buyers. In this instance, buyers have more and better options when looking to purchase their dream home and could have more negotiating power given market conditions.
These amazing projects by Hua Yang Berhad are perfect as your first home!
Aston Acacia
The best high-rise deal in BM, Penang. From RM1,028* p.m.
Centaurea
Affordable 1.5-storey terrace in Bandar U Seri Iskandar, Perak – From RM900* p.m.
*T&C apply.
Ultimately, even during these trying times, it is possible to purchase your dream home. Many developers are going the extra mile in making it easier and more affordable to buy a home. Your first home as a newlywed will definitely be a significant purchase—and something you do not want to take lightly. At the end of the day, you want to ensure that you’re selecting a home that you’ll enjoy living in for years to come.
