25 Mar - 5 min read
Things are finally looking up with the National Covid-19 Immunisation Programme being kicked off recently. Although vaccinations are proceeding smoothly, it would take some time for the country to heal from a pandemic economically.
Amidst it all, however, life is gradually resuming and for those who are looking to purchase a home – the pandemic may have postponed your plan, but fortunately, there are some tips and tricks for saving some money when purchasing a home.
Whether you’re a first home buyer or seeking a property for investment purposes, here are 8 deals the LBS Ox-picious 8 campaign is offering to home buyers so you can own a home with ease.
Once you’ve zero-ed in on a property, the very first document that you sign as a potential home buyer to show interest in the property is a booking form. Upon signing the booking form and picking out your unit, a fee is usually collected. Purchasers of LBS properties can secure their homes with low booking fees.
When considering buying a home, many first homeowners tend to overlook certain upfront costs like stamp duty fees. The stamp duty for the memorandum of transfer or MOT is based on the value of the property and is calculated on a tiered basis. What this means is a 1% stamp duty fee is charged for the first RM100,000 of your property purchase price; 2% on the next RM400,000, and 3% on the subsequent RM500,001 – RM1 million, and 4% for above RM1 million.
Should you choose to purchase a property from LBS, the stamp duty fees for MOT and Loan Agreement will be waived under the Home Ownership Campaign (HOC) by the government ending on 31 May 2021 with the condition that all terms and conditions were met.
It takes more than a downpayment and mortgage loan to own a home. Some of the common miscellaneous costs associated with buying a home include the legal fees involved in the preparation of the Sale and Purchase Agreement (SPA) and Loan Agreement. Both these legal fees will be exempted should you choose to purchase a home with LBS.
Purchasing a home requires you to pay a deposit upfront. When things don’t go the way we expected and we need to withdraw our purchase, it’s good to have an option to recoup the deposit. With LBS, homebuyers can get a full refund of their deposit under the condition that terms and conditions are met, should there be circumstances that might require you to withdraw your purchase such as an unsuccessful loan application.
A property is one of the biggest purchases, if not the biggest, a person can make in their lifetime. Securing a home loan is a huge part of making this lifelong dream a reality. However, sometimes, instead of the typical 90% property financing, a bank offers a potential homebuyer an 80% loan margin, depending on the buyer’s financial status. Homebuyer will then need to come up with the remaining 20% of the purchase price which can amount to quite a large sum. The lower loan margin can lead to the potential homebuyer abandoning the dream of owning a house altogether. LBS has a differential sum loan scheme for homebuyers that offers up to 20% of the property purchase price.
Now that you’ve signed the dotted lines and are officially a proud owner of a home, you’ll have to start thinking about some basic renovation works and outfitting your property. It doesn’t matter what kind of properties you’re purchasing, there is a laundry list of things to consider. By purchasing a home from selected projects by LBS, you can choose from an array of furnishing packages carefully curated in conjunction with the campaign for your home.
Many Malaysians purchase property for investment purposes and the number has been growing for the past two decades. Whether you’re adding a new property to your portfolio as a way to generate passive income or purchasing a weekend home for self-use, LBS is happy to reward repeat buyers for choosing to purchase from them again. LBS’s loyalty programme offers additional rebates to all LBS existing purchasers when they want to purchase a second home from LBS.
Last but not least, LBS homebuyers also stand a chance to win attractive lucky draw prizes worth more than RM1 MILLION. Prizes from the LBS Fabulous 20-21 Lucky Draw include the Proton X70, laptops, as well as home appliances you can use for your new home such as a washing machine, fridge, and stereo set.
When it comes to purchasing a property, there’s always the question of when’s the right time to buy a home. “Is it the buyer’s market now or the seller’s?” or “Is the government offering any incentives?” are just some of the questions we need to think about. It’s also important to remember that there are individual factors to consider that are unique to each person like financial ability.
But, if you’re financially ready to own a home now, why not take a closer look at the variety of properties offered by LBS? With so many exciting benefits offered with the LBS Ox-picious 8 campaign, you can take advantage of these deals to sweeten your home buying experience with more value for money.
*All offers mentioned above are subject to terms and conditions.