Thanks to a reader who asked me about HOC 2019, I will write another article on this. Earlier article here: Extension of HOC 2019 First question, should I take advantage of HOC 2019? My answer is, ‘Do you need that property for own stay and you want to have a good discount plus you actually like that particular property under HOC 2019?’ Then, answer is a firm yes. When we buy the property as a home, we are already gaining because we would now be paying a mortgage and not a rental. The former meant we are slowly owning the property while the latter meant the owner is the one becoming rich while our rental will always amount to nothing.
If the goal is to get an investment property, then please do the usual due diligence such as comparing the Price, is it competitively priced versus similar units in the neighbourhood? Or the price becomes competitive only AFTER that huge HOC 2019 discount? If we want rental income, Is the area a popular area for tenants? For working professionals? For students? Next would be the developer. Have we checked out their portfolio, their past projects, their management team?
Do we want to know where could we check out ALL the properties which are under HOC 2019? Here’s that website yeah. Official REHDA website. It gives full details of all the project names by state which meant that it’s very easy to navigate and find the property which we want. An example for projects in the state of Selangor as below:
Of course, it would be even more helpful if the price range for all these different developments could also be displayed so that we do not need to search in another website for each and everyone of the different properties we want to know more about.
By the way, HOC 2019 is by UNIT basis and not by whole project. For example, if the whole project is 200 units but the developer applied for just 70 units to be under HOC 2019, when they have sold all the 70 approved HOC 2019 units, then there are no more HOC 2019 units for this particular project. This is why the name of the project may be listed here but when we go to the developer, all the units approved under HOC 2019 may have already been fully sold. Happy browsing and perhaps buying one to enjoy the stamp duty exemption yeah. Huge amount of savings, really.
Next suggested article: Drop in household net worth is scary..