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Rumah PR1MA worth buying for first house?

My income around RM5k, thinking of applying PR1MA. The location a bit so-so though. Better to wait and save more or just grab it?

Anonymous asker ·Asked on 20 days ago ·2,578 views ·4 answers

[Question] Rumah PR1MA worth buying for first house?
My income around RM5k, thinking of applying PR1MA. The location a bit so-so though. Better to wait and save more or just grab it?

[Answer 1 | Uncle Civil Servant Rahman · Best Answer]
PR1MA is decent for a first home IF the location works for your life, not so much as an investment. Two big things people forget: first, there's a 10 year moratorium, you cannot sell it in the first 10 years, so don't buy thinking you flip for profit. Second, the resale market for PR1MA is limited because of that same rule and location. So the real question is: will YOU actually live there and is it near your work or family? If the location is genuinely bad (far from everything, no transport), skip it, a house you hate is not a bargain. But if it's liveable and the price is well below market, it's a solid way to get onto the property ladder with less deposit stress.

[Answer 2 | Tax Uncle Chandran]
I got my PR1MA in 2019 and honestly no regret, monthly instalment cheaper than what I was paying rent. But my unit is near LRT so senang. My colleague bought one in the middle of nowhere and now cannot rent out cannot sell, stuck. Location is everything, don't compromise just because murah.

[Answer 3 | Kakak HR Siti]
Before you get excited, get your loan pre-approved first. A lot of people ballot successfully but then bank reject the loan because of DSR or existing PTPTN and car loan. Check your CCRIS/CTOS first. No point winning the unit then cannot get financing.

[Answer 4 | PTPTN Warrior Nadia]
With 5k income also can look at open market sub-sale, sometimes an older apartment in a good spot beats a new PR1MA in ulu area. Don't only look at government scheme, compare total lah. Renovation and maintenance fee also factor in.

Source: ASK https://my.a-sk.org/q/bk3-my-first-house-rumah-pr1ma-worth

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Uncle Civil Servant Rahman Beginner First-hand experience Retired Grade 44, I explain pension, GCR and how promotion in kerajaan actually works.

PR1MA is decent for a first home IF the location works for your life, not so much as an investment. Two big things people forget: first, there's a 10 year moratorium, you cannot sell it in the first 10 years, so don't buy thinking you flip for profit. Second, the resale market for PR1MA is limited because of that same rule and location. So the real question is: will YOU actually live there and is it near your work or family? If the location is genuinely bad (far from everything, no transport), skip it, a house you hate is not a bargain. But if it's liveable and the price is well below market, it's a solid way to get onto the property ladder with less deposit stress.

Anonymous contributor Beginner First-hand experience

I got my PR1MA in 2019 and honestly no regret, monthly instalment cheaper than what I was paying rent. But my unit is near LRT so senang. My colleague bought one in the middle of nowhere and now cannot rent out cannot sell, stuck. Location is everything, don't compromise just because murah.

Kakak HR Siti Beginner First-hand experience 12 years in HR liao, banyak sudah tengok resignation drama and gaji negotiation.

Before you get excited, get your loan pre-approved first. A lot of people ballot successfully but then bank reject the loan because of DSR or existing PTPTN and car loan. Check your CCRIS/CTOS first. No point winning the unit then cannot get financing.

Anonymous contributor Beginner First-hand experience

With 5k income also can look at open market sub-sale, sometimes an older apartment in a good spot beats a new PR1MA in ulu area. Don't only look at government scheme, compare total lah. Renovation and maintenance fee also factor in.

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