Wanting to buy your first property is always an exciting, and slightly nerve-racking, experience! Here are some reasons why:
- You’ve done your research to find the perfect area surrounded by plenty of amenities (and the neighbours aren’t weird in any way).
- You’ve prepared a solid budget that maps out your repayments, savings, and miscellaneous expenses.
- You’ve also selected the right bank that will provide you with a 90% margin of finance with an attractive interest rate.
“Now, what could possibly go wrong,” you think. Well, A LOT, as it seems!
Before you can even take the last step to seal that sweet deal, you discover some additional ‘hidden fees’ you overlooked. Yep, apart from the property’s down payment, there’s also the following:
- Legal fees for the Sale and Purchase Agreement (SPA) and loan agreement
- Real estate agent’s commission
- Stamp duty Malaysia fees
Suddenly, that carefully planned budget of yours is in chaos as you realise that you don’t have enough money to purchase your dream home after all. Boooo!
How Am I Supposed To Know What The Rates Are?
Well, if you wanna make sure the scenario above doesn’t apply to you, you’d better check out the list of rates we’ve compiled below for your reference.
They’ll show you what to expect when it comes to the additional payments you need to make. Hopefully, you won’t be caught off-guard and have to scramble to raise enough funds on time. You’re welcome!
