Any incentives for first-time home buyer?, Comfortable earner, looking at 800k+
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 Nov 6 2020, 08:54 PM, updated 6y ago
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#1
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Senior Member
1,126 posts Joined: Feb 2011 From: Penang   
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I was disappointed that the budget 2021 allocation for stamp duty waiver will not be of any help with me, and in the past I also didn’t qualify for the HOC stuff because my income is higher than the max.
Are there any incentives out there for me to consider? I’m currently looking at a 800k+ property, this will be my first purchase. |
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Nov 8 2020, 06:37 PM
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#2
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Senior Member
1,126 posts Joined: Feb 2011 From: Penang
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QUOTE(digitalz @ Nov 8 2020, 03:02 PM) Budget 2021. Then you should be looking at the HOC 2020 instead of the budget 2021 HOC since its mostly targeted for the lower incomes no? Also, correct me if I am wrong but first time house buyers especially on projects with HOC should be entitled to HOC exemptions right? With 800k+ there are a lot of good choices out there.  QUOTE(YeohKW @ Nov 8 2020, 05:19 PM) For HOC, as long as it fulfill the criteria below then yes. Thanks both of you. I looked into it and the incentives are indeed attractive. Too bad the current two properties I’m looking at don’t qualify for HOC, maybe the developers didn’t sign up. I’ll switch focus and look around a bit to see if there are properties that do qualify.1. Direct purchase from developer only. Developer must be a member registered under REDHA (West Malaysia) SHEDA (Sarawak) or SHAREDA (Sabah) 2. Only Residential titled projects (price between RM300,001 to RM2.500,000) 3. Malaysian Citizenship 4. Purchase under individual or individuals name only Then will be entitled for HOC package 1. Min 10% discounts 2. Stamp duty exemptions for MOT and loan (MOT up to RM1,000,000 property only. If RM1,000,001 to RM2,500,000 will subject to 3% stamp duty). Loan can get up to RM2,500,000 exemptions) Hope this help. Thanks! |
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Nov 9 2020, 01:44 PM
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#3
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Senior Member
1,126 posts Joined: Feb 2011 From: Penang
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QUOTE(YeohKW @ Nov 9 2020, 01:42 AM) Have you check with the developer on the package? In KK, some developers didn’t participate in HOC but still offer similar packages ... Yeah I checked, but the properties are by BSG and they don't really do HOC in Penang, according to the staff I talked to  |
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