RM50,000 IS YOURS IF YOU WIN THE ‘MY DREAM HOME’ CONTEST
BY Zoe Phoon
Affordability and homeownership remain challenges for most Malaysians, especially first-time buyers.
Now, here’s an answer to getting onto the property ladder – but you have to enter a contest, then RM50,000 is yours if you win.
Looking to help Malaysians own a home, property portal PropertyGuru has launched its My Dream Home contest with RM50,000 prize money.
“We aim to help Malaysians achieve what is a realistic dream home, and that’s where the idea for the campaign came about,” said Sheldon Fernandez, country manager of PropertyGuru Malaysia.
He says the cash aims to help those with the initial downpayment when purchasing a home, which many struggle to afford.
“Residential homes in the country are severely unaffordable, with prices hovering at 5.5 times the median income.
“RM50,000 goes a long way in helping one achieve their goal, especially in paying for the downpayment, legal fees and moving costs associated with buying a property.
“PropertyGuru’s My Dream Home contest looks to provide every eligible Malaysian a decent shot at owning a home.”
To start the process of entering the contest, all you need to do is to find your dream home on PropertyGuru New Launches or PropertyGuru Project Reviews, submit an enquiry to the developer of choice and to make a booking payment.
Over 480 project reviews can be found on the PropertyGuru website, which gives indepth analysis of each project, ranging from the background of the developer to the offering of the new development, special features, selling price and details of the homes being offered.
Locations are far and widespread with popular searches such as Ampang and Ara Damansara in Selangor, Bukit Bintang in Kuala Lumpur, Batu Ferringhi and George Town in Penang, and Medini and Skudai in Johor.
According to Fernandez, one of the best ways to do so is by equipping oneself with knowledge of location, history of the developer and whether one is able to actually afford the property.
Armed with information about the project, 3D visuals and artist impression of each development, it’s easier for consumers to visualise what would be suitable.
It’s also important to be realistic about what is achievable and what is not.
PropertyGuru’s affordability calculator measures the maximum housing loan amount based on the annual income and ability to service the loan.