Everyone has their own dreams and wish, and one of it is to own a house. And everyone knows that it is not easy as ABC to purchase a house now, especially for those who are coming from low- and middle-income group. Furthermore, the house price nowadays is increasing rapidly like a cheetah running, but the movement of monthly income is like a three-toed sloth. So slow!

Nevertheless, do you want to rent till you have reached your golden age? Absolutely, a big NO! In order to own a house, there’s a lot of obstacles that you need to undergo and one of it is saving. Most of us are failing in saving, especially for those who are coming from low and middle income. It will be harder for those who are married and have children in the family as they need to pay their commitments.

However, there’s a lot of ways for you to make your savings in order to buy a house. So, do not panic! Always remember that, every problem has their own solutions. You just need to be consistent, have a strong and the right mindset, and voila! You can apply these useful tips if you are serious to buy a house in 1,3 or even 5 years.

1 YEAR.

For those who do not have a lot of commitments, especially fresh grad as they have less commitment, they could make their dreams to own a house will come true if they are serious and consistent in making a saving.

Record all your expenses.

• This is crucial if you have the less monthly commitment. This is because you will have the extra cash in every month for you to spend it like a boss.
• You will realize that what you have spent your money for and at the same time, you can control your spending habit.
• In this time, there’s a lot of applications you can download directly to your smart phone, and you can jot down all the transaction that has been made. Be smart, folks!

Kill the credit card!

• Credit card is your number one enemy amongst the others.
• Do not ever get yourself a card credit, especially if you are a shopaholic person.
• If you are an independent person in spending, credit card is not necessary for you.

Create your own savings fund.

• Savings fund can be your life saviour.
• It is not necessary for you to keep RM10 each time, it even can be as low as 5cents.
• Once your own savings fund is full, you can keep it in the bank in your saving accounts. Do not buy a new brand iPhone, okay!

Dividend.

• Dividend is a payment made by a corporation to its shareholder, usually as a distribution profit.
• Before you get started with the dividend, make sure you know what is the risk that you will take, and at the same time, do some research and make comparison of types of dividend first.
• Find the shares with less risk, such as Tabung Haji, Amanah Saham Bumiputera, Bank Rakyat and many more. Choose wisely!

EPF 2.

• If you have been in the working industry for a long period, sure you have a sum of money in your EPF 2 Account.
• You can make the withdrawal from the account for house purchase purpose.

Be alert with the latest news.

• You need to be more alert with the latest news or updates regarding the real estate sector.
• For instance, which developer is fraud, the latest project from the trusted developers, the market value of the house and many more.
• When you equipped yourself with the latest updates about the real estate or property, you can avoid yourself from the undesired problems that might occur.

3 AND 5 YEARS.

You might have quite a lot of commitments on your shoulder, but you have started to think seriously about purchasing a house. All the points above still can be used so that the process to make savings will run smoothly.

Game plan.

• You need to come out with strategies as it seems like you only have a few years left in order to finalize your decision in house purchasing.
• Identify and set up yourself with the knowledge of real estate.
• You need to understand what is DSR, and estimate the lawyer’s fees, house monthly instalments and so on.
• You need to know the type of house that you are desired to buy.
• Decided whether you want to buy a sub-sale or a newly built house, or maybe you insisted to buy an auction house.
• When you have a deeper understanding on the matter, you can estimate the cost that you need.

In a nutshell, with the consistency, strong and the right mindset, you will own your dream house.

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