Renting first and later getting a house key of our own? Rent-to-Own.

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Many kept asking again and again. ‘but… property prices are already too high to buy.’ Search those property listing sites again. Lots of affordable properties still. Plus 100,000 affordable homes coming in 2019, okay? (read here) Even our RAC will be building affordable homes connected to rail lines (read here) As for the question of property prices dropping, it’s not going to happen to those few areas you love yeah. Perhaps a slight drop which does not mean a lot but a substantial drop is highly unlikely unless our wish is for another financial crisis here in Malaysia. The only thing we should do is to REDUCE our unnecessary expenses and well, save for a home instead. OR perhaps go for a Rent-To-Own scheme instead?

Article in thestar.com.my Many homebuyers do not have the upfront costs associated with buying a home. (especially nowadays…) Here’s one such opportunity for those who has yet to save enough for down payment to a home. FlexKey is an enhanced HouzKEY by Maybank in partnership with S P Setia under the rent-to-own (RTO) home ownership solution.It is now not only applicable for completed homes but selective new launches too. For the first time in the industry, homebuyers will be happy to note they now are able to select first-hand their choice unit and preferred location from the newly launched properties offered under this scheme rather than being limited to completed units that are available. This definitely opens up more options for homebuyers and enables them to choose the property that they really want.

S P Setia president and chief executive officer Datuk Khor Chap Jen said, “The option of choosing a Setia home that is newly-launched is definitely attractive for first-time homebuyers to own their own property. Under the FlexKey scheme, a wide selection of properties to suit respective lifestyles and needs on top of preferred locations are available for qualified homebuyers to choose from, including units from Setia’s award-winning townships at Setia Alam and Setia EcoHill 2 in Klang Valley.” Khor added, “The fact that they can now choose newly-launched units is a plus point and Setia is proud to be able to offer this first-of-its-kind arrangement in the industry.” For reference, click here for the Article in thestar.com.my

<image on top is from TheStar.com.my>

(L-R) S P Setia deputy president and chief operating offier Datuk Wong Tuck Wai, S P Setia president and chief executive officer Datuk Khor Chap Jen, Malayan Banking Berhad Global Banking group chief executive officer Datuk Muzaffar Hisham and Maybank Real Estate Ventures managing director Sally Lye at the launch of the new rent-to-own scheme, Setia FlexKey.

I think rent-to-own is a good concept. Instead of just renting, at least now the tenant (potential buyer) could have the opportunity to take up the home he is staying in the future, if he likes it and has a higher salary too. Many times, after staying in an area for some time, we may grow to like it because we become familiar with all the amenities. We may find new favourite eateries for example and even start dropping by a certain petrol station or a newly opened supermarket too. It’s great for developer too because this will help them ensure the housing area is populated with more people. Many developers have this scheme today, just need to check for rent-to-own schemes in Malaysia. Happy renting and owning.

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Article written and edited by Charles. News article summarised by Dina Batrisyia.

Next suggested article: Renting and Selling? Get REA and RENs to help yeah

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