The struggle of buying a property is something most homebuyers are all too familiar with. This comes despite research revealing that 92% of Malaysians would much rather own a home of their own, instead of renting.
High home loan rejection rates, poor financial literacy, and financial constraints play the biggest roles in hindering homebuyers from their dreams of finally purchasing a property.
For example, on top of the selling prices of units, there are other significant closing costs in the home purchasing process which aren’t always taken into consideration by many Malaysians.
When these legal and miscellaneous fees come into the picture, the additional costs can often times add up to approximately 6-7% of the property’s purchase price!
The ability to own a home is hampered by hefty entry costs as well. These include the down payment and booking fees, which requires homebuyers to put down a sizeable chunk of their savings just for the initial payment.
Making Affordability An Achievable Reality
It’s not all doom and gloom, though! Tropicana Corporation Berhad is set on turning the tables in the favour of homebuyers.
Best of all, they’re not alone in this quest, because there’s also the Home Ownership Campaign (HOC) which was recently extended for another 6 months until the end of 2021!
Directly addressing the major issues involved in property ownership, the HOC comes with multiple rebates and exemptions.
Among some of the amazing benefits: Buyers get to enjoy stamp duty exemption for both the MOT and home loan, for properties that are up to RM2.5mil (from projects that are directly sold by developers)!
Based on a RM1 million property:
10% discount on the RM1 million property = RM100,000
Stamp duty on loan (0.5% based on the 90% loan amount) = RM4,050
Stamp duty on the Memorandum of Transfer = RM21,000
Total Savings under HOC
And now, comes the exciting part! Here are the nine participating projects within five of Tropicana’s esteemed townships included in the campaign:
It Isn’t Easy, But Tropicana Makes It Easier
Home ownership doesn’t come easy. Keen homebuyers have always been plagued by the hidden costs of owning a property. Though seemingly small, the fees and taxes involved can add up to become major financial obstacles, making home ownership seem an almost impossible feat.
But now, with both the HOC and Tropicana Corporation offering a range of excellent packages and accompanying projects for homebuyers to call ‘home’, securing a property can soon become a reality. Visit their website here to find out more about their current rebates and packages or to discover a Tropicana property of your own!