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Myra’s 4 Steps

Step 1 : Find Your Dream Home

  • Research key areas: Size, Community, Amenities, Location, and Price
  • Estimate your affordability with Myra's Golden Rule
  • Keep monthly installment below 40% of your net income
  • Choose a home that suits your lifestyle and budget

    • Key Takeaway :

    Discover your perfect match! Research 5 Key Areas : Size, Community, Amenities, Location, Price. Use Myra's Golden Rule for affordability!

    Reference

    Blogs:

  • Myra's Golden Rule
  • Myra's SCALP

    • Youtube:

  • Myra's Golden Rule
  • Homebuying 11 FAQ
  • How Much Should My Monthly Instalment Be?
  • Semi-D vs Cluster
  • Pros And Cons Of Subsale
  • Malay Reserved vs Bumiputera
  • Freehold vs Leasehold

    • Step 2 : Get a Loan

  • Identify the right loan for you: Bank Loan, Staff Loan or Government Loan
  • Lenders look at Debt Service Ratio and Credit Score
  • High DSR means you can't afford new commitment, while Low Credit Score means you've not repaid debts
  • Choose a loan that you can comfortably afford

    • Key Takeaway :

    Find the perfect loan by identifying your options, checking your DSR & Credit Score, and finally choosing a budget-friendly loan

    Reference

    Blogs:

  • How To Get the Perfect Credit Score
  • How To Get A Good Credit Score
  • Types of Loans Available
  • Loans for Public Sector Employees

    • Youtube:

  • Beginner's Guide to Building Your Credit Score
  • What is OPR?
  • What is Base Rate?
  • What is CCRIS/CTOS?
  • What is Second Charge?
  • What Is An Islamic Loan?
  • What Options Are There to Finance My Loan?
  • How to Maintain Low DSR?
    • Back

    Step 3 : Sign Important Stuff

  • Understand contents before signing
  • Get help from panel lawyer provided by developer, or your own lawyer
  • Be aware of "hidden costs" like Stamp Duty, Legal Fees, and Progressive Interests
  • Know your legal rights and responsibilities

    • Key Takeaway :

    Say yes with confidence by understanding what you're signing, getting expert help, staying on top of your "Hidden Costs", and knowing your rights!

    Reference

    Blogs:

  • Stamp Duty
  • What's the SPA Document For?
  • Buyer's Portion
  • Progressive Interest and Billing

    • Youtube:

  • What Is DOA?
  • Do I Need Home Insurance?
  • Do I Need Mortgage Insurance?
  • How Do I Calculate Hidden Costs?
    • Back

    Step 4 : Get Home

  • Keys are given during Vacant Possession once CCC is issued and VP notice is sent out
  • Clear all outstanding payments before getting keys
  • Inspect your home, take pictures, and ask questions
  • Take note of Defect Liability Period and the clauses attached

    • Key Takeaway :

    Unlock your dream home! Pay upfront costs, inspect your home, ask questions, know your legal rights & responsibilities!

    Reference

    Blogs:

  • You’ve Got The Key! What Now?
  • What's Vacant Possession?

    • Youtube:

  • What Is DLP?
  • What Is CCC?
  • Things To Prepare For Your New Home
  • How Do I Choose The Right Contractor
  • What Approvals Do I Need To Obtain For Home Renovation?
    • Back

    Congrats!

    You’ve reached the end of Myra’s 4 Step Journey!

    Now that you know the basics, do you want to dive into Myra’s detailed cheat sheet on homebuying?

    Estimated reading time : 7 minutes

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