For owning house at first time, obtain an advance deposit is one of the most difficult thing. As you known, most banks will only finance the cost of your accommodation by 90% only.
So the remaining 10% will be paid by the buyer habits as a sign of commitment and capacity indicators. What if you are able and qualified, but the deposit is not available? Well ... there are several ways that can be done. Follow the recommendations and most creative tips for getting money or face initial deposit of your property.
1. Request for help. Normally you can ask for it from the closest relatives such as parents or friends who care about and proud of your decision. In return you can return the money borrowed with little excess as a token of appreciation. Parents normally really encourage their children have the property. If included; asking parents to buy property is one thing that is easier than asking them to finance your marriage. Is it right? I believe you try for it...
2. Use your other assets - for example selling car accessories that are not used or antique collections to get advance money. There are many ways you can sell whether to your friends or groups. Much easier to advertise at online portal that you can use to sell goods online such as apply ebay.com.my, lelong.com.my, mudah.my, mysimplifieds.com, timestreets.com or all websites that are free advertising portal in Malaysia and many have benefited from portals such as this. Selling whatever goods from modern to antique collections as long as you do not forward sell all favorite flower pot-pot of your grandmother
3. Take insurance that gives you multiple returns in accordance with a certain period. Apart from protecting and investing every 2-3 years you will receive a bonus according to your contributions every month. If felt necessary ... you can also submit all the value of insurance is to get cash to pay the deposit and once your property. You do not intentionally break your legs and claimed insurance for this purpose. That is very dangerous ...
4. If you are the purchaser of property for the first time, you can withdraw EPF to finance 10% deposit from new homes. Check account 2, and look for any property with the appropriate value of the account.
5. Saving with ASB is a simple way to get downpayment. If your property is worth targeting RM500, 000 you only need to place a deposit RM1000 per month consistently. Based on my projections calculator, if you start saving early in the year 2010 ... at the end of 2013 you will have RM52, 226.59 as deposit 10% after four years of saving. So what's the wait? Start your investment right now
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