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> MyDeposit - Thoughts?, Home Deposit scheme

ragzs
post Apr 7 2016, 09:50 AM, updated 3y ago

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Hi Everyone,

I wanted to see what my fellow sifus think about the new MyDeposit scheme.

New first home owners are able to get contribution of 10% from the sale price, or maximum of RM30,000 (whichever is lower), will be given to first-time buyers looking for homes priced below RM500,000. (Only available to households with <RM10,000

I agree that it is a good idea in the sense that it helps the poor but will it inflate the pricing for the housing market? What about the unforeseen circumstances? I imagine that housing at <500k will definitely go skyrocketing
mafa2801
post Apr 7 2016, 10:32 AM

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QUOTE(ragzs @ Apr 7 2016, 09:50 AM)
Hi Everyone,

I wanted to see what my fellow sifus think about the new MyDeposit scheme.

New first home owners are able to get contribution of 10% from the sale price, or maximum of RM30,000 (whichever is lower), will be given to first-time buyers looking for homes priced below RM500,000. (Only available to households with <RM10,000

I agree that it is a good idea in the sense that it helps the poor but will it inflate the pricing for the housing market? What about the unforeseen circumstances? I imagine that housing at <500k will definitely go skyrocketing
*
I hope this can be implemented on RUMAWIP too..so, no need to forkout 10% D/P..hehe..
silrave
post Apr 7 2016, 10:36 AM

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haha
ya lo
not sure
just plan to apply pr1ma
mafa2801
post Apr 7 2016, 10:43 AM

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what happend if developer already gave 10% discount.
Does this mean, i will entitle 10% Cash back? drool.gif rclxms.gif rclxms.gif drool.gif drool.gif
Kilohertz
post Apr 7 2016, 10:49 AM

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Does it applies to subsales? and how to apply for it? tongue.gif
ragzs
post Apr 7 2016, 10:59 AM

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Honestly to me it sounds like a BR1M, but I think it does work for subsale prices right. That would be so so sweet. I can't find this website they are talking about so can't really find out more about the details.
comme_play
post Apr 7 2016, 11:01 AM

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I'm just concerned whether our government really have the money to cover for such purpose sweat.gif sweat.gif Aren't their pockets running low now that oil export income is being squeezed? Imagine subsidizing 10000 purchases x RM30000 would work out a RM300mil bill in total. Hope only genuine target group is benefited from this initiative but as usual most likely will be abused by investors and developers.

My thoughts would be:
- If you have plans to purchase a property below 500k better act now because the government may pull this policy back in the next budget/scale down the amount and percentage.
mafa2801
post Apr 7 2016, 11:03 AM

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On the other hand,
I can say that with this scheme, developer will start removing all the discounts given before.

bangwall.gif bangwall.gif starting to feel abit frustated
frossonice
post Apr 7 2016, 11:04 AM

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QUOTE(Kilohertz @ Apr 7 2016, 10:49 AM)
Does it applies to subsales? and how to apply for it? tongue.gif
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If not mistaken, it is for first time home buyer. So, if you buy for the first time even for subsales property, they will allow.

Yeap, I re-read the promo. It support sub-sales. They will deposit it into buyer's snp lawyer account

This post has been edited by frossonice: Apr 7 2016, 11:08 AM
jakal sombong
post Apr 7 2016, 11:07 AM

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QUOTE(comme_play @ Apr 7 2016, 11:01 AM)
I'm just concerned whether our government really have the money to cover for such purpose  sweat.gif  sweat.gif Aren't their pockets running low now that oil export income is being squeezed? Imagine subsidizing 10000 purchases x RM30000 would work out a RM300mil bill in total. Hope only genuine target group is benefited from this initiative but as usual most likely will be abused by investors and developers.

My thoughts would be:
- If you have plans to purchase a property below 500k better act now because the government may pull this policy back in the next budget/scale down the amount and percentage.
*
didnt read how it works.
im just guessing but i think those rm30k might goes as tax contra to developer.

btw can you share where to read more on this.
JianNinety
post Apr 7 2016, 11:10 AM

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QUOTE(jakal sombong @ Apr 7 2016, 11:07 AM)
didnt read how it works.
im just guessing but i think those rm30k might goes as tax contra to developer.

btw can you share where to read more on this.
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http://www.theborneopost.com/2016/04/07/my...se-implemented/

http://www.nst.com.my/news/2016/04/137711/...me-house-buyers

These are the few news articles i found online. I also cant find their form on their website.

This post has been edited by JianNinety: Apr 7 2016, 11:10 AM
jakal sombong
post Apr 7 2016, 11:10 AM

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QUOTE(JianNinety @ Apr 7 2016, 11:10 AM)
thanks thumbup.gif
JianNinety
post Apr 7 2016, 11:11 AM

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QUOTE(jakal sombong @ Apr 7 2016, 11:10 AM)
thanks  thumbup.gif
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No problem. We all digest this together to understand it better.
jakal sombong
post Apr 7 2016, 11:13 AM

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QUOTE(JianNinety @ Apr 7 2016, 11:11 AM)
No problem. We all digest this together to understand it better.
*
cant even open the website.
registration open today. http://www.kpkt.gov.my/ or is it just my internet.
unifi so slow today.
JianNinety
post Apr 7 2016, 11:14 AM

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QUOTE(jakal sombong @ Apr 7 2016, 11:13 AM)
cant even open the website.
registration open today.  http://www.kpkt.gov.my/ or is it just my internet.
unifi so slow today.
*
Maybe their server overburdened by us trying to find out more. Haha. I opened it but cant find the form.
panda-man
post Apr 7 2016, 11:17 AM

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i dont support it. property price gonna go up. household less than 10k? i would prefer the reduce it to households less than 5k.

in the end flippers are gonna get their mum, uncle, cousin, brother, sis, etc involved. buy 4 properties can save RM120k on top of whatever the sales price gonna be. unless got a rule cant sell within 15 years or something.
JianNinety
post Apr 7 2016, 11:18 AM

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QUOTE(panda-man @ Apr 7 2016, 11:17 AM)
i dont support it. property price gonna go up. household less than 10k? i would prefer the reduce it to households less than 5k.

in the end flippers are gonna get their mum, uncle, cousin, brother, sis, etc involved. buy 4 properties can save RM120k on top of whatever the sales price gonna be. unless got a rule cant sell within 15 years or something.
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There is probably going to be a condition like that. Like low cost houses cannot sell or rent in 5-10 years.
jakal sombong
post Apr 7 2016, 11:19 AM

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is it the same as MYhome ?
JianNinety
post Apr 7 2016, 11:22 AM

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QUOTE(jakal sombong @ Apr 7 2016, 11:19 AM)
is it the same as MYhome ?
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No no, not that one. MyHome is 2014 punya scheme.
Kilohertz
post Apr 7 2016, 11:22 AM

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I'm trying to open their website but it doesn't load at all.. lol! I guess really over the limit.

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