The prices for properties in Malaysia have been increasing gradually over the years and it has become a burden for first time home buyers or young working adults who have just started working. Fret not, with so many schemes available in Malaysia to help people to own a house, buying your first property is no longer just a dream. There are many schemes available such as the PR1MA, RUMAWIP, Rumah Selangorku and many more. This article will guide you through what you need to know about the MyHome Scheme. First of all, MyHome scheme is announced in 2013 with an aim to help the low-income families that work in the private sector to buy affordable house. The Ministry of Urban Wellbeing, Housing and Local Government together with the Department of National Housing run this scheme to encourage the private sector to build more affordable homes. In 2014, the Federal Government allocated RM300 million with the purpose of building 10,000 units of affordable homes around the country. In order to be eligible for the MyHome scheme, one must be a Malaysian and at least 18 years and above. In addition, the applicant and his or her spouse must not own other property. Do note that there is only 1 application allowed per family. There are 2 different sizes for the house and they all cost differently, depending on the size and location. Market Price (RM) Actual Price (RM) Built up size (square feet) MyHome 1 80,000 – 120,000 50,000 – 90,000 800 MyHome 1 (Kuala Lumpur) 80,000 – 150,000 50,000 – 120,000 800 MyHome 1 (Sabah & Sarawak) 90,000 – 120,000 60,000 – 90,000 800 MyHome 2 120,001 – 200,000 90,001 – 170,000 850 MyHome 2 (Kuala Lumpur) 150,001 – 300,000 120,001 – 270,000 850 MyHome 2 (Sabah & Sarawak) 120,000 – 200,000 90,001 – 220,000 850 There are 2 different types of unit available for the applicants to choose from, however, it comes with an income limit for different categories of the house. MyHome 1 house is open to families that earn RM3,000.00 to RM4,000.00 per month. As for MyHome 2, they are only open to families who earn between RM4,001.00 to RM6,000.00 per month. The Federal government is providing RM30,000.00 subsidy for each house. The market price for the units ranges from RM80,000.00 to RM300,000.00, but with subsidy, the houses will be sold to eligible and qualified MyHome Scheme applicants for a more affordable price, at only RM50,000.00 to RM270,000.00. Both types of houses come with 2 bathrooms and 3 bedrooms. In addition, these units come with basic amenities, such as parking spaces, community hall, surau and playground. In conclusion, application for MyHome Scheme is not too difficult. For more information, you can visit http://ehome.kpkt.gov.my/index.php/pages/view/62. Make sure you think thoroughly and plan carefully before you make an application. After all, it is a long term commitment that involves a huge sum of money. You definitely do not want to end up in a debt and regretting.
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