The prices for properties in Malaysia have been increasing gradually over the years and it has become a burden for first time home buyers or young working adults who have just started working. Fret not, with so many schemes available in Malaysia to help people to own a house, buying your first property is no longer just a dream. There are many schemes available such as the PPA1M, RUMAWIP, Rumah Selangorku and many more. This article will guide you through what you need to know about the Rumah Selangorku Scheme.
First of all, Rumah Selangorku is a housing scheme that is considered low cost. It was launched in 2015 by the state government that is only catered for people residing in Selangor, especially for the low and medium income families. The scheme is managed by the Lembaga Perumahan dan Hartanah Selangor (LPHS). Therefore, the units are either constructed by a government linked company, or the state authorities, where funding comes from the state government of Selangor.
In order to be eligible for the Rumah Selangorku scheme, one must be a Malaysian, at least 18 years and above, and must be a resident in Selangor. There are a few different sizes for the house and they all cost differently, depending on the size.
Type of unit
Built up size
700 sq ft
750 sq ft
800 sq ft
900 sq ft
1080 sq ft
1000 sq ft
2100 sq ft
There are many different types of unit available for applicants to choose, however, it comes with an income limit for some categories of the house. Type A house is open to families that earn up to RM3,000.00 per month. As for Type B, type C and Type D, they are only open to families who earn between RM3,001.00 to RM8,000.00 per month.
Do bear in mind that it comes with restrictions too for interested buyers. The restrictions are:
In conclusion, application for Rumah Selangorku is not too difficult and can easily be done online through the website http://lphs.selangor.gov.my. All applications via forms will be rejected. Make sure you think thoroughly and plan carefully before you make an application. After all, it is a long term commitment that involves a huge sum of money. You definitely do not want to end up in a debt and regretting.
Buying a property is no longer a dream with the available housing schemes, such as PR1MA, and so on. Are you also planning to become a property investment? This article will guide you through the reasons in getting into property investments.
Property investment is a tangible investment as it is something that you can see, feel and own as compared to stocks investment, whereas stock investment is considered a high risk investment strategy, as it depends mainly on the economic sentiment along with the company performance. There are some reasons on why you should consider venturing into property investment:
2. Great place for capitals You have total control of your investment and property investment offers you with options in terms of growing the value of the property. That being said, you can control and decide when to sell your property for capitals whereas stocks and bonds investment can be tricky, as you have no control over them.
3. Great base for financing more investment opportunities Property investment allows you to have a strong base to finance other investments that you are interested in.
You will also need to look out for several factors before deciding to jump into the property investment bandwagon:
1. Type and size of property The type and size of property will attract different tenants. For example, students will only need a room where they are able to sleep and study whereas a family will definitely need a bigger space for their children and privacy.
2. Rental returns You will also need to do your research on the average rental values of properties that are similar to yours in the same area, in order to have a rough estimation on how much your property can fetch. As you need to pay for the mortgage payment, taxes and miscellaneous fees, you will need to charge a rental fee that will be enough to pay for your costs.
3. Emergency plan Not forgetting an emergency plan, you will need to ask yourself if you are able to manage your finances if there are losses incurred. Cash flow is the money that you make from your rental properties every month. That being said, your cash flow will increase over time as the rental yield goes up along with inflation while the mortgage payments remain the same. However, there is also a risk involves when your property is vacant and you do not have any cash flow.
In conclusion, property investment is not easy and is definitely not a scheme for you to get rich quick, but it can be promising and will allow you to retire early. Property investment takes time and effort to make it work and the sooner you start, the easier it gets. Nonetheless, property investment is considered a safe investment option as compared to buying shares or bonds.