QUOTE(kuhfayLover @ Jul 29 2011, 10:09 AM)
To eligible for PR1MA, it stated that it's targeted for first-time buyers, my friend bought a house before and she had already sell it off, is she still eligible for this schema?
Of coz not eligible. That is 2nd time buy house but no house in possesion at the moment only. PR1MA for those have never bought any houses be4.
For those who intend to invest I personally don't think PR1MA is a good pick, because:
1. Main reason PR1MA may be in our list is because "no downpayment".
- There are some projects that offer super low downpayment eg, Bayu Sekamat by Mah Sing (RM2k downpayment), Par@onesouth and Gardenz@one south (RM1K downpayment). If can't even fork out 1k for downpayment then you shouldn't consider buying a house in the 1st place.2. 105% financing for PR1MA.
- Extra 5% financing for PR1MA is for legal fees. However, for many new projects the developer are absorbing these fees and you need not to pay. Some may even bear construction interest for you. I don think PR1MA offer this. They may mark up higher price and free this n free that but if price is within our budget, why not?3. PR1MA forbid u to sell and must be for own stay. I believe sooner or later someone will come out with ways to bypass these restrictions. Spending your brain juice on finding a loophole thru this, I'd rather use my time and effort analysing where else is good to invest, how to manage property etc..
4. PR1MA loan tenure max 30yrs. That seriously limiting those below age 30s. Imagine PR1MA installment for a 105% of 300k unit is around RM 1.5k per month. Where as for Gardenz the 90% for a 400k unit (ps downpayment RM 1k onli) with loan tenure of 40yrs, the installment also around RM1.5K.
I myself was eyeing on PR1MA but then decided not to wait because of the reasons above. Waiting for PR1MA also doesnt guarantee I can secure a unit also, so I booked a unit in Gardenz. Just RM 1k and wait for installment, nothing more. They also offering buyer gets buyer programme where they give u RM1k cash voucher. Anyone interested can PM me so we can share the voucher.
Of course I did not factor in location. Locationwise Bdr Tun Razak is veli good, no doubt abt it. Just that Pr1ma condo is very basic unit, normal facilities whereas Gardenz's design is
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