1) MUST BE 1ST TIME HOUSE BUYER – Unlike PR1MA condition, applicant or his/her spouse is allow to apply this as a second home, in other words it is wiser to choose a RUMAWIP over a PR1MA property given the choice when you purchase your first house. One can’t purchase a RUMAWIP when applicant or spouse own a property.
2) All RUMAWIP property are usually comes a bare unit. That enable the you to be able to design the unit almost from scratch. One can decide on the kitchen design on whether to add on an oven (you need 4 mm wiring and to conceal this in a bare unit is achievable) to the type of wardrobe whether build in or plug n play; one can choose. In Malaysia, we all need air conditioner 24/7 and choosing an inverter AC is going to save you money. Inverter air conditioner, the speed of the compressor varies to ensure energy efficient operations and precise cooling or heating as required which save 30-50% electricity consumption. Not only that, when an AC compressor is able to adjust itself according to the need of the room temperature it prolongs its lifespan (efficient) just like if your smartphone is always heating up like my Nexus 6P; it burnout faster.
3) Buying a RUMAWIP which is an affordable housing for moderate and low income earners who live and work at Wilayah Persekutuan, cost will always be in consideration before making any decision. Renovating a bare unit is far more cheaper than renovating a sub sale house or changing the design a fully furnish new property as removing things and replacing it definitely cost more. One can take up this opportunity in Hong Leong Bank with a 6% flat interest rate to renovate your home (lowest in the market) as OCBC no longer offer Renovation & Refurbishment Loan as far as I know. With a mortgage payment that is cheaper than the rental in the same area; additional monthly repayment for a renovation loan is obviously more preferable compare to paying rental which in in end you are just paying for someone else property.
5) Have you went for Adrian Wee Real Estate Course? One thing he teaches is property doubles its value every ten years. For Eg, you bought Sky Awani 3 for 300k and monthy repayment is of RM 1,500 average. 10 years down the road; it’s value usually rise to 600k. What if Adrian is wrong? It went only to 450k! You can refinance it for say 70% and that is 315k! Whether it’s for the kids college fund or another investment; it’s up to you! Or do you choose to save that money using your monthly salary?
6) Rental income? Yes if only you are moving away from the city to work or your business is relocating. The beautiful thing about this is, it only can be rented by Malaysians. Therefore we can conclude that a RUMAWIP will never be a run down residential filled with drug dealings or any kind of vice activities.
7) Balloting? Nope not all are through balloting, Skyworld Sky Awani Series is through selection. Whether is at the top floor or the bottom, facing east or west is totally up to you!
8) Low class? Nope! Skyworld Sky Awani 3 won 3 Award, it is even equip with a roof garden which most RUMAWIP or PR1MA won’t come close to having one. Sky Awani 4 is with a viewing deck.
9) Lack money for deposit? RUMAWIP pricing is cap at RM300,000 which qualify you for My First Home Scheme in other words 100% financing from bank.
10) Loan approval concern? Property like Sky Awani 3, with two loan rejection letter or rejection from the RUMAWIP authority; you will get a full refund for your deposit!