Hi all,

I'm planning to purchase my first house in jb soon, but i'm a bit blur now. Anyone out there to help me? Pls give me some guidelines.

Firstly, what should i do? Should i search for property first, or get the money ready first? How much money needed?

Kindly share your experience with me how u all go about it when purchase the first dream house. Thanks in advance to all of u!!!

This is what I do:

1. Save up as much $$ as possible for the downpayment, at least 10% of the house.
2. Search/survey preferred area and also price
3. Safety, conveniency of that area
4. Price growth - if you plan to sell in future

There's more, but kinda lazy to write further.... lol hope above help you on start.

Most peoples will prefer Freehold compare to Leasehold status house. Makesure the area you choose is not famous cowboy area otherwise you will face the problems of getting your house breakin all the time. I will get a master to check my dream house also just to makesure the house is suitable for family stay.

Can I tumpang.

Should we do this:
1. Get bank loan approval
2. Get lawyer start do SPA
3. Get bank offer letter
4. Sign SPA


Im looking for bank loan, should i start ask my lawyer prepare SPA already, or its better for me to wait until my loan is approve (in case i did not get any loan) ?

On SPA, should I enter caveat? Previous owner bought the unit in cash, even borrow me the original copy of strata for me to photocopy to go do my loan..

i will wait for loan approval 1st b4 signing the snp. Once u receive the letter of offer from bank then u can inform your lawyer to sign the snp.

This post has been edited by Tohsan: Oct 15 2009, 09:07 AM

i'm in the midst of buying the house now. here few things that i can share:

1. Check with bank your ceiling limit for housing loan
2. save some money where 10% for the house and about 3-4% more for lawyer etc.. (but this is depending if you buying new or second property)
3. if buying second property - go check market value so u can negotiate with the owner.
4. sign S&P then go get your loan..

good luck man

One point to remember regarding your financing options:
Once you've selected the property that you want to purchase, you'll be asked to pay a booking fee. Get the booking receipt and go apply for your home loan.

This is before signing the S&P (Sales and Purchase agreement).
Because the loan process takes approximately two months from signing the letter of offer to monetary disbursement. So you will want the land title process and loan process to run at the same time.

After signing the S&P, developers or home owners will usually require you to come up with the funding within 3 months afterwhich a daily penalty charge will be imposed. The loan process takes a while which is unavoidable because of all the documentation legal offices have to go through.

Don't get caught in this.

(PM me if you have other queries)

This post has been edited by Terel: Oct 15 2009, 10:53 AM

i just got an experience her, i ended up did not "buy" bcos things were not right

I realized that: one should not be so "desperate" in wanting to own the place, where the agent/ owner will take advantage of you....wake up from the dream and be rationale when looking for a place!

All the best

1) Set your budget.
2) Know the neighbourhood
3) History of the house
4) Bank Value

Dun forget reno cost and furnishing cost.

after you have select your desired property, get a verbal valuation from a registered valuer, get your application to the bank and wait for approval. you may have to pay 2% earnest deposit which is refundable if loan cannot approved to lock down the unit. if the owner told you that the earnest depo is not refundable, ask him go eat shit !!!!

check market value 1st dont buy too overprice properties

let the agent call u when he say he will call you back; if he doesn't, forget about him.....if not, he will noe tat you are so desperate, and thus will mark the price up...

Hi Tohsan,

What is the charges to hire a master?? If he said something is wrong, what will u do?? Let say u like that house very much.

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Added on October 16, 2009, 11:35 pmThanks for ur advice. By the way, normally how much is the agent fee?

This post has been edited by shinegirl: Oct 16 2009, 11:35 PM

The one I employ will try his best to minize the reno thing unless necessary or you wish too. The charges is very minimal.

So how much have u spend? few hundred or few thousand?

if u need the sifu number u can pm me.

normally, buyer has no need to pay agent fee; only the seller does

i was nearly fool to pay the agent fee as a buyer...