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20210715 LBS FOUNDATION STAYS CONSISTENT IN HELPING THE NEEDY

Erfan Sakib on July 15, 2021

For Immediate Release

LBS Foundation Stays Consistent to Helping the Needy
Donation of RM40,000 to the Affected

 

Petaling Jaya, 15.07.2021 – LBS Foundation, an organization that manages the corporate social responsibility activities for LBS Bina Group, has recently took the initiative to make donations to a number of NGOs as well as individuals who were affected by the pandemic in addition to the constraints caused by the implementation of the Enhanced Movement Control Order (EMCO).

Among the recipients of donations include the Persatuan Kebajikan Chen Ai, in Petaling Jaya which comprises of the disabled and the elderlies who suffer from mental disorders, spinal cord injuries, learning disabilities, Autism and other conditions. The donations from LBS Foundation are used to aid the staff as well as residents of the welfare home in covering their monthly expenses.

Aside from that, in June this year, LBS Foundation also contributed a few units of hospital beds and monetary donation to the Emergency Unit at Banting Hospital, Selangor. This contribution is used to help in some of the hospital’s needs in dealing with COVID-19 cases referred to the hospital which has a hybrid referral status.

Simultaneously, LBS Foundation also made donations to Tzu Chi Malaysia Taiwan Buddhist Foundation to help the Malaysia Solidarity COVID-19 Fund in covering for the medical needs in several hospitals and subsequently channeled to B40 families affected by the COVID-19 pandemic.

Not limited to assisting organizations and relevant charities, LBS Foundation also managed to get in touch with 13 families within Selangor, Kuala Lumpur and Pulau Pinang whereby their incomes have been severely affected by the pandemic and are in serious need of various forms of assistance, be it in terms of daily essentials or medical needs. Through the collaboration with Pharmaniaga Berhad, the families listed will receive cash donations as well as basic medical supplies for daily use.

LBS Foundation Board of Trustees, Tan Sri Lim Hock San said “The effects of the COVID-19 outbreak have negatively impacted the lives of some communities and have completely overturned their lives. We hope that this contribution will lessen the burden of those affected as well as serve as a form of encouragement for the communities that are capable of contributing to assist the needy during these challenging times.”

For more information on LBS Foundation and its related activities, do visit our official website at lbsfoundation.com.my or follow us on our official social media pages, fb.me/lbsfoundationmy and instagr.am/lbsfoundationmy.

: [email protected]

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Buying Your First Home

Erfan Sakib on July 8, 2021

There are 2 keys every Malaysian should have in their lifetime; car keys and house keys. You already have the car, and now you’ve finally reached that stage in your life where you want to have a place to call your own. Be it for personal or investment, buying your first property can be a rather daunting task if misinformed. But by asking the right questions and understanding the process flow, things might not be as complicated as it seems.

It’s very important to differentiate between wanting to buy a property and being able to buy a property. Always remember, if you can buy the property and manage your monthly expenses comfortably, then you’re ready to consider the purchase.

 

Here are 5 questions you need to ask yourself before deciding:

1. What type of home best suits me?

There are many types to choose from; a condominium, an apartment, a townhouse, a semi-D bungalow, or even a patch of land to build your own dream house. Each has its own pros and cons, which you need to weigh to better suit you.

2. What am I looking for in a new home?

A home is a long-term investment, which is why it’s very important to consider a property that fits both your wants and your needs while keeping within your budget. Location, neighborhood, size, and layout should be part of your consideration.

3. How much mortgage can I actually get?

It’s important to get an idea of how much a lender will be willing to loan out for your first home. The amount may vary depending on your debt, monthly income, and job patterns.

4. How much home can I actually afford?

You will need to look at the house’s total cost (not just the monthly payment) such as the amount of down payment you can afford, how much you anticipate spending to maintain or improve the house, and how much your closing costs will be.

5. Who will help me find a home and guide me through the purchase?

A real estate agent will help you find homes that best suit your criteria. Once you’ve decided on a home to buy, these professionals will help you with the entire purchase process including making an offer, getting a loan, and completing the paperwork.

Just keep in mind these 5 questions and you’re good to go. All the best!

Factors To Be Considered Before Buying A Property

Erfan Sakib on July 8, 2021

After months of searching, you’ve finally found your ideal home. But before you sign on the dotted line, here are a few things you might want to consider:

Which way does the house face?

This is essential, especially when it makes a difference between an overly heated home with little ventilation and an airy home that has ample lighting.

What is the area like?

Take a walk around the property and observe the area. Are there a lot of noisy restaurants around? What are the neighbours like? Are there any convenience stores around? Is there public transport nearby? This is to give you an idea of what to expect before you move in.

How safe is the area?

If the property is within a gated community then you’re all set. If not, then you might have to look at the surrounding houses and see if there are ample residents living around the neighbourhood. You might also want to check if there is sufficient public resources around.

Are there sufficient facilities available in the community?

It helps to ensure sufficient public facilities around your neighbourhood such as a swimming pool, a community centre, a sports complex and/or playgrounds. These amenities provide a sense of community and is a great way to get to know your neighbours.

Is the property easily accessible to major roads?

It helps to know which major roads the property links to. This will help with the ease of traveling, avoiding any future congestion going in and out of the property

Will there be any major developments happening in the area in the near future?

Apart from determining the appreciation of the property value, this would also help in determining if the density of population around the area is looking to be increased and whether that increase is something you wish to be a part of.

Is there sufficient drainage in the area?

Examine the whereabouts and levels of external drains and see if they are accessible and fully functional.

All You Need To Know About Mortgages

Erfan Sakib on July 8, 2021

Finding the right home can be tricky, from the location, to the type, the design as well as size. But eventually it all comes down to what you can afford. As we’ve mentioned earlier, it’s very important to differentiate between wanting to buy a property and being able to afford one.

Here, we’ll be talking about mortgages and how you too can finance your home the right way.

The most important question you should ask yourself is “how much can I afford and how much can I borrow?” The percentage of down payment you pay at the beginning will affect the amount of monthly mortgage payments you pay later on. If you can afford to pay a higher down payment, then you will be borrowing less, thus lower mortgage payment every month.

When determining how much you can afford to pay for your home, there are a few things you might want to consider:

  1. down payment amount,
  2. monthly expenses,
  3. credit rating, and
  4. income.

The simple rule to follow; your collective monthly debt should not exceed a third of your monthly income. This debt includes any car payments, education loans or any other costs you have on a monthly basis. Working out your collective debt plan will help determine a ceiling price for the mortgage you are able to afford. We advise you to calculate the amount of mortgage you can afford before considering a property.

The amount you can borrow is determined on the value of your property, your income and your repayment capability. When looking for an ideal loan, do consider the interest rate and the duration of the loan. The higher the interest rate, the more money you will pay each month. Interest rates can be fixed or adjustable. Adjustable interest rates change overtime whereas fixed interest rates remain the same.

As for the financing, you have the choice of conventional financing or Islamic financing. Under conventional financing, your loan consists of a principal amount, plus the interest charged on you. Islamic financing works on a different concept of buying and selling, where the financial institution purchases the property and then sells it to you higher than the purchased price.

It’s important to pay attention to every little detail, like the margin of finance, the lock-in period, as well as branch location. It’s just as important that you keep in mind all the other fees involved in purchasing a home. It is obviously not just going to cost you the down payment and the subsequent mortgages. Other fees such as the legal fee, insurance fee, transaction fee etc. are items you would need to calculate in as well.

Generally, most mortgages are calculated for either 15 years or 30 years. A 30-year mortgage involves a lower monthly payment than a 15-year mortgage for the same amount, but the total amount paid in interest will be greater. The following reference can be used when calculating the best mortgage rates: https://www.imoney.my/home-loan.

Always remember, choose a mortgage plan that meets your needs best and is carried out with the least amount of financial strain.

References:

  1. http://www.mortgagecalculator.net/buyers-guide/
  2. http://www.iproperty.com.my/financing/faqs.aspx#22
  3. http://www.iproperty.com.my/news/8992/5-common-home-loan-mistakes-to-avoid

GST And The Property Sector

Erfan Sakib on July 8, 2021

The Goods and Services Tax (GST) was introduced in Malaysia back in April 2015. Prior to its inception, spending spiked before decreasing drastically after its implementation. This decline is expected to continue as consumers and businesses alike adjust to the new taxation.

The list below contains information regarding GST and how it might affect the property sector:

  • GST is a consumption-based taxation system which works as a replacement for the existing Sales and Service Tax (SST).
  • The introduction of GST in Malaysia is not a new idea; the first announcement of a possible implementation was made by the government a decade ago back in September 2004, but was postponed twice before its implementation.
  • GST will be charged on all types of supply of goods and services in Malaysia (except for goods prescribed as zero-rated and exempt-rated).
  • The Real Estate and Housing Developers’ Association (REHDA) has forecasted that residential property prices may rise by 3-3.5% after GST.
  • The Royal Malaysian Customs (RMC) has also forecasted that housing prices may increase by 0.5% to 2%.
  • A purchaser of residential property will not be subject to GST since the supply of residential property falls under the category of exempt-rated supply.
  • Even though residential property developers are not allowed to claim any input GST incurred on their business purchases, the cost of their own purchases will increase. Due to this, the developer may adjust its selling price to reflect the extra costs due to the unrecovered input GST.
  • As for commercial and industrial properties, the cost is expected to increase as those sectors will be subjected to GST.

 

References:

  1. http://www.iproperty.com.my/news/9853/the-gst-a-quick-look
  2. http://www.iproperty.com.my/news/9846/gst-under-the-microscope

All You Need To Know About Mortgages

Erfan Sakib on July 8, 2021

Finding the right home can be tricky, from the location, to the type, the design as well as size. But eventually it all comes down to what you can afford. As we’ve mentioned earlier, it’s very important to differentiate between wanting to buy a property and being able to afford one.

Here, we’ll be talking about mortgages and how you too can finance your home the right way.

The most important question you should ask yourself is “how much can I afford and how much can I borrow?” The percentage of down payment you pay at the beginning will affect the amount of monthly mortgage payments you pay later on. If you can afford to pay a higher down payment, then you will be borrowing less, thus lower mortgage payment every month.

When determining how much you can afford to pay for your home, there are a few things you might want to consider:

  1. down payment amount,
  2. monthly expenses,
  3. credit rating, and
  4. income.

The simple rule to follow; your collective monthly debt should not exceed a third of your monthly income. This debt includes any car payments, education loans or any other costs you have on a monthly basis. Working out your collective debt plan will help determine a ceiling price for the mortgage you are able to afford. We advise you to calculate the amount of mortgage you can afford before considering a property.

The amount you can borrow is determined on the value of your property, your income and your repayment capability. When looking for an ideal loan, do consider the interest rate and the duration of the loan. The higher the interest rate, the more money you will pay each month. Interest rates can be fixed or adjustable. Adjustable interest rates change overtime whereas fixed interest rates remain the same.

As for the financing, you have the choice of conventional financing or Islamic financing. Under conventional financing, your loan consists of a principal amount, plus the interest charged on you. Islamic financing works on a different concept of buying and selling, where the financial institution purchases the property and then sells it to you higher than the purchased price.

It’s important to pay attention to every little detail, like the margin of finance, the lock-in period, as well as branch location. It’s just as important that you keep in mind all the other fees involved in purchasing a home. It is obviously not just going to cost you the down payment and the subsequent mortgages. Other fees such as the legal fee, insurance fee, transaction fee etc. are items you would need to calculate in as well.

Generally, most mortgages are calculated for either 15 years or 30 years. A 30-year mortgage involves a lower monthly payment than a 15-year mortgage for the same amount, but the total amount paid in interest will be greater. The following reference can be used when calculating the best mortgage rates: https://www.imoney.my/home-loan.

Always remember, choose a mortgage plan that meets your needs best and is carried out with the least amount of financial strain.

References:

  1. http://www.mortgagecalculator.net/buyers-guide/
  2. http://www.iproperty.com.my/financing/faqs.aspx#22
  3. http://www.iproperty.com.my/news/8992/5-common-home-loan-mistakes-to-avoid

LBS Launches Vacci-Nation Bonanza With A Total Of RM847,000 Cash Incentives Awaits

Erfan Sakib on July 7, 2021

7 July 2021

20210707 LBS LAUNCHES VACCI-NATION BONANZA WITH A TOTAL OF RM847,000 CASH INCENTIVES AWAITS

Erfan Sakib on July 7, 2021

For Immediate Release

LBS LAUNCHES VACCI-NATION BONANZA

WITH A TOTAL OF RM847,000 CASH INCENTIVES AWAITS

 

Petaling Jaya, Selangor, 7 July 2021 – Leading township developer, LBS Bina Group Berhad (LBS) has launched its latest marketing campaign called Vacci-Nation Bonanza! With this, owning your dream house is hassle-free and topped with additional perks if you are in line for vaccination! In addition, our homebuyers still stand a chance to win lucky draw prizes worth more than RM1 million!

 

Under Vacci-Nation Bonanza, homebuyers of LBS participating properties can enjoy more than RM565,000 cash incentives. To support the increase in vaccine uptake and achieve herd immunity, LBS will also be giving out extra cash incentives of up to RM282,000 for homebuyers who have registered for their COVID-19 vaccination or those who have been vaccinated!

 

“As the ‘People’s Developer’, LBS remains committed to supporting the government’s housing agenda by launching Vacci-Nation Bonanza, allowing homebuyers to enjoy huge savings when they purchase selected LBS residential properties. The campaign period begins from 1st July 2021 to 30th September 2021. During this patriotic month of Malaysia’s Independence Day and Malaysia Day, we hope these cash incentives can help promote rakyat homeownership and vaccination,” LBS Executive Chairman Tan Sri Lim Hock San said.

 

LBS is offering 8 awesome deals under Vacci-Nation Bonanza, which includes:

  1. Home Ownership Campaign (HOC) Goodies
  2. Free Legal Fees
  3. LBS Fabulous 20-21 Lucky Draw
  4. Low Booking Fees
  5. Loyalty Rewards
  6. Flexi Payment Scheme
  7. Zero Exit Fee
  8. Home Furnishing Package

 

As a part of the Vacci-Nation Bonanza, LBS also further extended LBS Fabulous 20-21 Lucky Draw, homebuyers of any LBS participating properties get a chance to be in the running to win lucky draw prizes worth more than RM1,000,000, such as Proton X50, Laptops and Tablets.

 

For more information on the Vacci-Nation Bonanza, stay updated at https://virtualfair.lbs.com.my/, websites or call 1700 81 8998.

 

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20210629 DIGITAL PLATFORMS HELPED REACH OUT TO POTENTIAL BUYERS

Erfan Sakib on June 29, 2021

For Immediate Release

 

DIGITAL PLATFORMS HELPED REACHED OUT TO

POTENTIAL BUYERS

Secured close to RM 274 million bookings during FMCO

 

(Petaling Jaya, 29 June 2021) – Leading township developer, LBS Bina Group Berhad (LBS) has been in high gear when it comes to pre-empting the uncertainties caused by the COVID-19 pandemic.

 

Even prior to Movement Control Order (MCO), LBS has foreseen the potential of digitalization. While continuing to strengthen its mainstream platforms, LBS was quick to transition into digital platforms to better reach out to its target audience, particularly to young house buyers. The online platforms include but are not limited to virtual showrooms, websites, email marketing (EDM), as well as social media platforms namely WhatsApp, Facebook, Instagram, and YouTube.

 

Before the reopening of physical showrooms, LBS strives to bring the most realistic virtual showroom viewing experience to potential buyers. This was proven in early January 2021 when LBS launched their latest Virtual Property Page where homebuyers get to explore all LBS’s existing properties in high definition from the comfort of their homes.

 

Despite the Full Movement Control Order (FMCO), LBS was able to achieve a total of RM 274 million worth of bookings from 1 June 2021 to 28 June 2021.  As of 28 June 2021, LBS garnered RM601 million in sales with bookings in the pipeline of RM665.9 million.

 

In addition, LBS also introduced its latest marketing campaign #DudukRumah Deals 3.0 in June where homebuyers get to secure their dream home with a booking fee of just RM200. To top it off, homebuyers stand a chance to win more than RM445,000 worth of Duit Raya from the ongoing Raikan Rezeki Bersama LBS campaign, and lucky draw prizes worth more than RM1 million. The campaign is set to end on 30th June 2021, so head over to https://raya.lbs.com.my/ to find out more.

 

With the recent extension of Home Ownership Campaign (HOC) until 31st December 2021, there is no better time to secure one’s dream home thanks to the exemptions that will alleviate financial burdens for homebuyers.

 

“With the helping hand of government policies, creative campaigns, and efficient use of both mainstream and digital platforms, and ultimately, building homes that tick all the right boxes by fulfilling today’s market demand, I am delighted to mention that LBS has been seeing promising booking figures,” Executive Chairman of LBS Bina Group Berhad, Tan Sri Lim Hock San said.

“This not only indicates that my team at LBS is building quality yet attainable homes but it’s also comforting to know that people’s dreams of owning their very own homes are being fulfilled despite these challenging times, and that’s what matters most,” Executive Chairman of LBS Bina Group Berhad, Tan Sri Lim concluded.

-End-

Digital Platforms Helped Reach Out To Potential Buyers

Erfan Sakib on June 29, 2021

29 June 2021

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