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A Guide to Landed vs High-Rise Properties

Finding the right residential property can be a daunting task – there are so many factors to consider. As to whether a landed or non-landed property is better, this is often a matter of personal preference. We have compiled a list of advantages of both property types to help you make a decision.

Hand holding magnifying glass and looking at house model, house selection, real estate concept.

The Advantages of Landed Living:

  • Bigger Living Space

In general, a landed property is more spacious, usually have a reasonable amount of yards around them. Making landed properties the better choice. Especially for people with a bigger family.

It provides the much-needed space and ground to grow a garden! Something that individuals with green thumbs would definitely appreciate.

  • Enjoy total freedom

Living in high-rise homes usually comes with a set of limitations such as strict rules against the keeping of pets, no shoes and plant outside, not allowed to display and placement of any item in common area, or else will be fined? Not to worry. Your house, your rules. You don’t need to deal with regulations and house rules, if you’re staying in landed property.

  • No limitation on exterior design

You can’t change the exterior facade or extend your space as per your wish in a high-rise building. Even with permitted renovation work, you will be subjected to the rules and regulation of the management. Exterior (such as wall & gate color) required to be consistent among all units. However, you have complete control in creating or renovate your landed dream home, be it interior or external design. 

For those that have a growing family and are looking for a long-term home, then landed property is the best way to go.

  • Privacy 

Unlike high rise living where you have more neighbours due to higher density. Landed living allowed you to keep comfortable distance with your neighbour. 

  • Convenience

High-rise properties have numerous floors, and because of this, elevators are installed for easier flow of movement. This usually leads to residents waiting for extended periods of time while the elevator goes down to their floor. In addition, it also takes some time to go to the parking area due to the distance. This takes more time and effort when transporting groceries or supplies home.

In contrast, if you’re staying landed house, you can park your car right Infront your doorstep, easy access to the car porch. And, you don’t need to take the elevator to pick up heavy groceries and parcel, especially when you’re in a hurry.

  • Zero maintenance fee 

With the added amenities in high-rise buildings, you will have to pay the maintenance fees regularly irrespective of what services you use.

In contrast, no maintenance fees, no sinking fund if you’re living in landed house. In other words, more disposable income which you can spend or invest in.

The Advantages of High Rise Living:

  • Facilities & Amenities

Planning for healthy activities, but don’t want to take risk which may stuck in traffic jam? Looking for car park at gym room or shopping mall could be frustrated too.

Condos and apartments usually feature a wide range of facilities. Hence, condo living could be hassle free, which you could enjoy facilities and amenities including gym room, swimming pool, futsal court, badminton court, movie rooms, playground, multifunction room and etc. just within the vicinity. In an affluent neighbourhood or city centre, it is also more affordable than living in a landed property.

Cheaper to buy-in. If you are a first-time homebuyer who’s looking for something more affordable and probably wants to enjoy all of the facilities, then high-raised condos are the ones to pick.

  • Socializing 

As you will be sharing all the amenities with your neighbours, it is a great way to meet people who are interested in the same things you are. Highrise development with ‘lifestyle convenience’ in mind to cater to community living.

  • Security

When it comes to ensuring peace of mind for you and your loved ones, high-rise developments are generally safer as they are equipped with multi-tiered security system that includes CCTV, secured access card, secured parking lots, perimeter patrol, and a guard entrance.

  • Great views

You also have a bird’s eye view of the city, skyline, greeneries, sunrise and sunset. The higher you go, the better the views. This is something that ground-dwellers will never experience.

  • Worry no more on maintenance

Do not having to monitor and carry out maintenance activities. The management office or Joint Management Body (JMB) will settle things out for you.

With great space comes great responsibility – you will be footing the bill for repairs, maintenance, and other upkeep. Moreover, if you have a large garden, consider lawn care and mowing fees too.

OPR Rates In Malaysia

OPR (Overnight Policy Rate) is the interest rate at which a central bank lends money to commercial banks in the overnight market. In Malaysia, the OPR is determined by the Monetary Policy Committee (MPC) of Bank Negara Malaysia, the country’s central bank. The OPR serves as a benchmark for other interest rates in the Malaysian financial system.

To understand the OPR rates in Malaysia, you can follow these steps:

Stay updated with financial news: Stay informed about the latest developments and news related to the Malaysian economy, monetary policy, and central bank announcements. Regularly read reputable financial news sources, such as local newspapers, online news portals, or financial publications, to get insights into the current state of the OPR.

Visit the central bank’s website: Bank Negara Malaysia provides information on its official website about the OPR, monetary policy decisions, and related announcements. Visit their website and look for dedicated sections on monetary policy or OPR rates. This information is usually found in the “Publications” or “Monetary Policy” sections of the website.

Read monetary policy statements: Bank Negara Malaysia issues periodic monetary policy statements that provide details about the central bank’s decision on the OPR and the rationale behind it. These statements explain the economic conditions, inflation outlook, and other factors considered by the MPC in setting the OPR. By reading these statements, you can gain insights into the central bank’s thinking and factors influencing the OPR rates.

Analyze economic indicators: OPR rates are influenced by various economic indicators, such as inflation, GDP growth, employment data, and others. Monitoring these indicators can help you understand the direction in which the OPR may move. Look for reports on inflation, GDP growth, consumer price index, and other relevant economic data published by reputable sources like government statistical agencies or financial research institutions.

Seek expert opinions: Financial analysts, economists, and researchers often provide insights and analysis on the OPR rates in Malaysia. Follow renowned experts in the field who specialize in Malaysian economics or monetary policy. Their opinions and forecasts can provide valuable perspectives on the OPR and its potential impact on the economy.

Remember that OPR rates are subject to change based on economic conditions and central bank policy decisions. It is essential to regularly monitor the information sources mentioned above to stay updated on the latest OPR rates in Malaysia.

Bidding Goodbye to High Utility Bills

Are you done with paying high monthly housing utilities in Malaysia? Fret not. We have a few tricks up our sleeves that can effectively trim down your bills while comfortably enjoying your monthly utility bills. Here are some tips to help you reduce your monthly housing utilities in Malaysia:

Install energy-efficient appliances: One of the easiest ways to save money on your electricity bill is to replace your old appliances with new energy-efficient ones. Appliances such as refrigerators, air conditioners, washing machines, and televisions consume a lot of electricity. By choosing energy-efficient models, you can significantly reduce your monthly electricity bills. Look for appliances that have a high energy rating and inverters, such as those with a 5-star rating.

Close-up of economist using calculator while going through bills and taxes in the office.

Unplug unused appliances: Many would think that leaving the plugs in is negligible due to its minuscule electricity usage. Did you know that appliances such as chargers, televisions, and computers continue to use electricity even when they are not in use? Unplugging these appliances when they are not in use can help you save money on your electricity bill.

Make use of natural light: Make the most of natural light by opening up your curtains and blinds during the day. This will reduce the need to turn on lights, which can help you save money on your electricity bill. Additionally, sunlight can help kill bacteria and provide vitamin D, which is essential for your health.

Install energy-saving light bulbs: Energy-saving light bulbs, such as LED bulbs, use less electricity than traditional light bulbs and can last longer. Switching to energy-saving light bulbs can help you save money on your monthly electricity bill. Additionally, LED bulbs come in different colors and can be dimmed or controlled by smartphones, creating a unique and comfortable ambiance for your home.

Turn off lights and fans when you leave a room: It’s easy to forget to turn off lights and fans when you leave a room, but doing so can help you save money on your electricity bill. Turning off lights and fans when they are not needed will not only help you save money but also prolong the lifespan of the appliances.

Use air conditioning efficiently: Air conditioning can be a significant contributor to your monthly electricity bill. To use your air conditioner efficiently, set the temperature to a comfortable level, clean the filter regularly, and turn it off when you leave the house. Using a smart air conditioner controller or a timer can also help you save money.

Reduce water usage: Reducing your water usage can help you save money on your monthly water bill. Consider taking shorter showers, fixing leaky faucets, and using a low-flow showerhead. Additionally, using a rainwater harvesting system can help you save money on your water bill while being environmentally friendly.

By implementing these simple tips, you can significantly cut down on your monthly housing utilities in Malaysia and save money in the long run. Not only will you be able to enjoy a more comfortable lifestyle, but you will also be contributing to a sustainable future.

Purchasing A Home: Available Schemes

“If you are in the process of actually buying a house, dreams about this can be your subconscious processing these actions in your waking life.”

When purchasing a home, it is important to evaluate your household’s monthly income. This will assist you in determining whether or not you can afford the house you desire. 

Buying a house is a major step in the life of any individual, but for first time homebuyers it can feel like a 100% obstacle. The housing market can be confusing, especially if you are not sure where to start. But, with the right information, it is possible! 

You may get to start your journey of homeownership now. 

The first step is to determine your budget. Congratulations if you have saved enough money for a down payment. You are now prepared to begin looking at properties and applying for financing. If not, there are government programmes that may help you in getting a mortgage even if you do not have excellent credit or the required down payment.  Many banks in Malaysia offer special programs designed specifically with first-time buyers in mind-so don’t be afraid to ask! 

Second, make sure you know your credit score. You may go for a free credit score check. If you find some errors on your report, you can dispute them by contacting the company and let them know what is incorrect. 

Third, find out what kind of loans that are available to you and how much money you would need to qualify for each one. 

Fourth, be prepared with documentation. This includes proof of income (such as pay slips), bank statements, proof of residence (utility bill) and copies of any other documents related. 

If you have a monthly household income of RM3,000 to RM4,999, the Malaysian government has a housing scheme that allows you to buy your first property. The scheme also requires a high credit score, which means you must have a track record of making on-time payments.

Assuming that you meet the requirements, you can purchase your first home in Malaysia with a 10% down payment (RM30,000). The government will provide you with an interest-free loan for up to 15 years at 4% each year. 

The Malaysian Government has several housing schemes for low-income households. These include: 

MyHome Program Perumahan Rakyat by Bank Simpanan Nasional (BSN)

Rent-to-Own (RTO) Scheme 

Bank Negara Malaysia’s (BNM) RM1 Billion “Fund for Affordable Homes”

Youth Transit Housing (MyTransit) by KPKT

Home Ownership Campaign (HOC)

LBS Bina Executive Chairman Honoured Ir Title By Board Of Engineers Malaysia

Tan Sri Lim Hock San, executive chairman of LBS Bina Group Berhad (LBS), has been awarded the honourable title ‘Ir,’ joining the esteemed ranks of Malaysian professional engineers.

An ‘Ir’ must be registered with the Board of Engineers Malaysia and licenced to practise engineering in Malaysia after satisfying all of the prerequisites.

Board of Engineers Malaysia’s President, YBhg. Datuk Ir. Ahmad Redza Ghulam Rasool said that as a statutory body, who register and regulate engineering profession in Malaysia, it had certified and approved Lim as a professional engineer bearing title “Ir.” for his remarkable achievements and competencies in the engineering fields.

“With his vast experience and invaluable contributions to the engineering and construction industry, he has directly uplifted our nation in development sector. Tan Sri (Lim) serves as a shining example of a true leader, guiding his organization towards many success,” he said.

The Institution of Engineers Malaysia (IEM) congratulated Lim, saying that there is no doubt about his qualifications for this well-deserved distinction.

His exemplary accomplishments and profound contributions in the field of engineering exemplify the highest standards of excellence, said IEM past president, Ir Lai Kong Phooi.

“It is with great admiration that I personally assert the importance of Lim’s role as an inspirational figure for the younger generation to look up to and emulate.

“As the past president of IEM, I wish to extend my heartfelt congratulations to Lim. He is well-deserved and qualified to be accorded for this professional engineering recognition,” he said.
“I wish Tan Sri (Lim) well and successful in all his engineering undertakings,” he said.

Lim, 65, graduated with First Class Honours in Civil Engineering from the University of Wales, the United Kingdom, in 1982.

When he returned to Malaysia, he joined the family business, which at the time included lorry transportation and construction.

Within two decades, the company had grown to encompass investments in real estate development, insurance, and tourism.

On December 6, 2001, Lim was named managing director of LBS.

Lim became the primary leader and spearheaded LBS Group to become one of the top players in the property development sector, thanks to his great entrepreneurship, acquired management abilities, and seasoned technical ability.

Lim was appointed executive chairman of LBS on March 1, 2021, following the retirement of Datuk Seri Lim Bock Seng.

He also holds directorships in several subsidiaries in the LBS Group, and is an executive vice chairman of MGB Bhd.

Lim has received outstanding accolades since 1982, in which year he won the second prize in the British Steel Corporation Competition for Design in Hollow Steel Section.

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5 Property Investment Strategies For Beginners to Follow in 2023

With everything that’s currently happening in the world, 2023 may not seem like the right time to invest in Malaysian property, especially if it’s your first time.

However, with the right property investmentstrategy at your disposal, there is no doubt that you will reap the rewards of your investment in good time.

So, if you are new to property investment in Malaysia and are keen to dabble in this popular investment option, here is a property investment guide that you might find useful before taking that big leap.

Exploring Buy and Hold Property Investment in Malaysia

House model with real estate agent and customer discussing for contract to buy house, insurance or loan real estate background.

Buy and hold is one of the most popular investment strategies in property investment, which requires the investor to identify the best place to invest in property.

Identifying an area or location with potential for growth is a crucial factor and includes looking into industrial expansion and population growth.

These factors are known to have a big impact on the property’s appreciation as well as the area’s rental market.

However, do take note that the buy and hold is a passive long-term investment property strategy, which means that you will not be able to see immediate returns if you choose to carry it out.

Apart from that, this popular investment strategy definitely requires extensive research and patience, and if successful, it will be able to generate higher returns in the future.

By carefully analysing the market, you can also minimise the risks of your investment being undermined and reap the returns of your property investment down the road.

Use The House Hacking Property Investment Strategy For Additional Income

If you are keen on investing in the housing market, then you might want to consider the house hacking strategy.

House hacking is basically renting out part of the residential space that you are living in, ideally a multifamily property, to others.

House hacking is an ideal way to help you generate some income as a landlord as well as offset the high costs of owning a house, which can be extremely costly.

It may not be a conventional property investment strategy to carry out in Malaysia but this upcoming investment property trend is definitely something to look into.

So, if you have a room or two of your own home to spare and do not mind the idea of having housemates, then this is a property investment strategy that you might want to try out!

Consider Strata Property As Your First Investment Property

If you are buying your first investment property, it’s most likely you would want to start with a more affordable property, like a strata property.

A strata property is a term often referring to high-rise properties with shared common facilities such as condominiums and apartments.

It is currentlythe best type of property to invest in the Malaysian market as it has a lower cost than investing in a landed property.

Apart from that, the demand for renting condominiums and apartments is also higher as more people are seeking a more affordable option when it comes to picking out a place to live.

Renting Out Your Best Investment Property On Airbnb

As travel and holiday make a comeback post-pandemic, short-term rental is one of the most lucrative types of investment property approach to consider doing in 2023 onwards.

So, if you have the perfect vacation home property at the best location, Airbnb is definitely a platform you will want to look at to list your property and connect with travellers.

Compared to traditional renting, Airbnb allows you to have more flexibility and use different pricing strategies depending on the demand and season.

Though this investment property approach does not guarantee you a steady income, the daily rate received from the short-term rental is relatively higher than the average daily rate of long-term rental.

Discover BRRRR As A Popular Income Property Investment Strategy In Malaysia

House or mortgage affordability calculation, picking new home base on budget, income or lifestyle concept, businessman hand wisely think to picking different variant houses with price tag.

Another popular investment property approach you might want to consider is the BRRRR property strategy, which stands for Buy, Rehab/Refurbish, Rent, Refinance, Repeat.

When done right, BRRRR can certainly provide you with higher returns but it takes time and hard work.

First things first, you will need to buy a property that is affordable or has a lower value that can be upgraded with some refurbishment work, which brings us to the second step.

So, after acquiring a property, you will need to increase the value of the property through refurbishment. Adding features such as a security system, landscaping, kitchen remodelling and others, will help to increase the property’s capital appreciation and rental value.

Once that is done, you can then rent out your property at the best price and start generating cash flow.

After you have accrued revenue through renting out your property, the home can then be refinanced and sold at a higher price, and the whole process is repeated.

Do note that though this property investment strategy is quite technical, many property investors enjoy BRRRR not only as means of generating income but also as a hobby.

Ideal Property Investment in Malaysia with LBS Bina

If you are looking for high-quality yet affordable houses worth investing in, LBS Bina offers a selection of affordable investment properties for you to check out.

LBS Bina also keeps up with the ever-evolving architectural design trends to meet the aesthetic demands of today’s modern home buyers and investors.

To discover more about LBS Bina’s available projects for property investment, visit the LBS Bina website today!

IBS Precast Concrete – A Paradigm Shift

We are in the midst of witnessing a growth dynamic in Malaysia. It is estimated that Malaysia’s
population has increased to 33 million as at 23rd March 2023. With approximately half of all
Malaysians below the age of 30, the need to provide quality affordable housing is tremendous.

The question to be asked is: What is the solution for all this?

MGB Berhad (“MGB”) has unlocked such doors. An established construction player with a
strong track record for shaping the nation for over 10 years, MGB addresses urbanisation by
developing affordable and quality housing of the highest standards in high-rise developments
and landed properties. This is driven following the adoption of Industrialised Building System
(IBS) using precast concrete in its construction and development.

IBS precast concrete is an innovative and sustainable construction technique. The
components are manufactured in the factory, then positioned and assembled into structures
with minimal additional site work. The advantages of IBS precast concrete are often qualitative
rather than quantitative. It is anticipated that the use of IBS precast concrete has resulted in
33% savings on construction time, 31% savings on labour and overall, a 49% reduction in total
on-site labour cost. In light of the labour shortage facing the construction industry over the
past few years, the use of IBS precast concrete has alleviated the worry. In addition, with less
wastage, simpler logistics and less materials used in construction sites, it contributes towards
MGB’s environmental initiatives.

MGB first ventured into the IBS space in December 2017 through a joint venture with Sany
Construction Industry Development (M) Sdn. Bhd (a subsidiary of China-based Sany Group
Co Ltd). Upon the establishment of the joint venture, it deployed its first mobile IBS plant at
LBS Alam Perdana township in 2018. A year later, MGB opened its first permanent IBS
precast concrete plant in Nilai. Together, the two plants are capable of producing 6,000 units
of properties annually.

“We are driven by technological innovation and constantly searching for ideas to deliver quality
housing in a timely manner whilst managing costs. That turned our attention to IBS precast
concrete,” said MGB Executive Vice Chairman, Tan Sri Lim Hock San.
MGB was first exposed to the idea of IBS through roadshows and discussions with business
partners. The IBS precast system is adopted by many developed countries like Singapore and
China. Due to its market size, it is unsurprising that China is known to be one of the world’s
largest IBS precast system providers. It took multiple rounds of discussion before deciding to
forge ahead with the idea after having found a synergistic partnership with the Sany Group.

“Our venture into IBS was received with pessimism at the beginning, largely due to the
substantial CapEx involved in building an IBS plant. Our mobile and permanent IBS plant costs
us RM60 million but I am pleased to say we are reaping the benefits from our early foresight.
We are driven by technological solutions and constantly searching for opportunities that push
boundaries and surpass expectations through quality, reliability and innovation,” he further

LBS Alam Perdana is a proven testament to the benefits of IBS precast concrete with homes
being delivered 6 months ahead of schedule. Comprising 673 units of double-storey terrace
houses, the initial two phases of township were the first LBS projects built by MGB using IBS
precast components. Thus far, MGB has completed 6,000 properties using IBS precast
concrete, and in our pipeline, we are looking at completing more properties and are set to
increase the number of completed properties to 10,266 units by the end of 2023. In fact, all
Rumah Idaman MBI under MGB’s purview has been built using IBS precast concrete.

Looking ahead, MGB will continue to adopt IBS precast concrete, as it believes that it serves
as an ethical foundation to achieve long-term business success for MGB. Goals are in the
pipeline to increase investments in automation to speed up efficiency and reduce costs. As a
step forward, MGB is venturing overseas as it has signed a Memorandum of Understanding
with SANY Alameriah For Construction Co., Ltd in January 2023 to operate a precast concrete
factory located in the city of Jeddah which is envisioned to supply 690,000m3 precast concrete
products. Coupled with the hope of seeing increased adoption of IBS across the construction
industry, MGB is on a steady footing ahead of the pack in the construction of developments
using innovative solutions.


Four Main Guides & Tips On How To Buy Property In Malaysia

If you are looking for some property buying tips, then you have come to the right place.

Though this may not be your typical Malaysia property buying guide, there is no harm in understanding what you are getting yourself into before you buy a property, especially if it is your first time.

We understand that although it is a wonderful milestone to be able to buy your first property, it can also be quite scary as it is such a big and life-changing decision to make.

So, here are four factors to consider before buying property in Malaysia:

Tip 1: Reaffirm Your Decisions Before Choosing Any Property Development or Developer

If you are new to real estate and property, you may be wondering where to start and how to buy property in Malaysia.

However, before you dabble in real estate and begin searching for the best property to buy in Malaysia, you must first establish why it is that you want to buy property.

Is it because you want to invest in properties to gain some returns as a side or passive income?

Or are you looking to buy a property to call home?

Whatever your reasons are, know that there are other forms of investments as well as alternatives to buying a home such as renting, which might be a better option depending on your means.

Do bear in mind that buying a property in Malaysia does come with risks, just like any other form of investment.

So, make sure to think long and hard about buying a property to prevent yourself from making a decision that you might later regret because you did not weigh your options.

Tip 2: Do Not Buy Without Essential Guide or Investigation in Malaysia’s Property Market

If you are only interested in knowing how to buy property in Malaysia because everyone you know is doing it, then you might want to reconsider.

This is especially if you are not into Malaysia’s property market or have no interest in real estate.

This is because you will need to understand the market by doing thorough research and information gathering before you decide to buy a property.
This includes knowing the different types of properties available in the market and what they offer, how the location of the property plays a huge role as well as the incurring costs that you will need to bear when you purchase a property.

So, before knowing how to buy property, just be aware and be sure of what you are seeking in a property and whether it is something you can commit to.

Tip 3: To Buy The Best Property In Malaysia, Location Is Everything

In every property guide to buying the best property in Malaysia, location will always be one of the biggest factors to look out for.

This is especially crucial if you are buying property for you to call home and settle down in for the long term.

When you ask what is the best property to buy in Malaysia, there is no definite answer.

It is quite subjective as different people will have different preferences and needs such as living in a lively neighbourhood or a quiet residential area.

However, location plays a major role when choosing and buying a property, especially when you are considering the distance from your workplace, schools, hospitals and other essential amenities.

Besides that, the best property to buy in Malaysia is generally one that is accessible and is a considerably good distance from other neighbouring townships.

LBS Bina is known for building and designing high-quality property and housing for today’s thriving communities.

To learn more about our available property and housing projects, check out LBS Bina’s website now!

Tip 4: Maintaining a Strict Eye on Your Finances Is Vital in Property Buying

Before you decide on buying a property, take into account all of your personal expenses beforehand.

This includes your monthly and yearly subscriptions, bills, car loans and food allowances.

Then, consider the ongoing expenditures of a house purchase, the necessary renovation as well as furnishing costs once you buy a property.

Having your finances in order and being disciplined about it is definitely something to take seriously once you decide to commit to owning a house.

Tips to Purchase a House for First-Time Home Buyers in Malaysia

You are finally reaching another milestone in your life and now, you are ready to buy your first home!

Being a first-time home buyer is definitely an exciting experience but at the same time, buying your 1st house can also be a nerve-wracking journey, especially if you do not know where to start.

So, if you are a first-time home buyer in Malaysia, here are some tips that might be useful before you make that leap to buying your 1st home:

Decide on a Budget for Your 1st Home in Malaysia

One of the most crucial things you need to do as a first-time home buyer is to know and decide on the budget you are comfortable with for your 1st house.

You might also do your own research to find out which housing price range is the best match for your current income as you surely want to buy a house that you can afford.

Today, there are a few useful online tools such as a home loan and duty stamp calculator that can help you find out the loan amount you need to buy your 1st home.

Another thing that you need to take note of is that a downpayment of 10% of the property cost is necessary when buying a new house.

Compare the Costs of Properties Before Buying Your First Home

As a first-time home buyer, it is easy to get caught up in the whirlwind of excitement when you are finally buying your first house.

However, it is important to remember that it takes a lot of patience and to never act too hastily when you are house hunting.

In order to make smarter choices, it is best to browse the market and compare the pricing of houses available for sale first to find the best deal.

So, never settle for the first house that catches your eye and make a payment for it right away, which is the no.1 mistake of many first-time home buyers in Malaysia today.

Having negotiating skills can also be useful in this case as it might be able to help you get a better price and rebate incentives for your dream home.

Obtain Funding as a First-Time Home Buyer in Malaysia

Another important tip for a first-time home buyer in Malaysia is to first obtain the funding you need to buy your first house.

By securing your finance, you will then be able to find the type and price of a property that best fits your budget.

The bank will assist in evaluating your credit score to help determine whether you are a viable candidate to repay the loaned amount.

Apart from that, the bank will also look at your Debt Service Ratio (DSR) score to find out your eligibility for a housing loan.

So, the better your credit score, the higher your chances are of getting your loan approved by the bank.

First Home Scheme Program for First Home Buyers in Malaysia

You can also check out the first home scheme, which is a program for first-time homebuyers.

Malaysia’s first home scheme offers eligible applicants the chance to obtain loan financing up to 110% of the price of a property, which is something that all first-time home buyers should take advantage of.

Consider Your Options Before Buying Your First Home

Now that you understand that buying your first house as a first-time home buyer has its pressures, you might begin to weigh other alternatives.

However, once you have all the required details and know what it is exactly you are looking for in a first home, the home of your dreams is within your reach.

Though choosing your ideal 1st home is a subjective decision and varies from one individual to another, there will definitely be a house that is sure to meet all your needs as well as your budget.

Here at LBS, we are known for building not only affordable homes but also high-quality houses that are beautifully designed for today’s thriving communities.

To learn more about our housing projects, check out LBS Bina’s website now!