Anyone who has ever bought a house knows that this can be scary. Sometimes you find out that the house is nothing like you wanted it to be, only to find out too late. That’s why it’s important to know which neighbourhood is the best fit for you.

Feng shui is a pseudoscientific traditional practice originating from ancient China, which claims to use energy forces to harmonise individuals with their surrounding environment. The term ‘feng shui’ literally translates as “wind-water” in English, and is considered as one of the Five Arts of Chinese Metaphysics, classified as physiognomy (observation of appearances through formulas and calculations). The feng shui practice discusses architecture in terms of “invisible forces” that bind the universe, earth, and humanity together, known as qi.

In today’s age, the new generations hardly believe in this practice anymore. In Malaysia, the practice of feng shui transcends through races. Each race has their own set of beliefs and whether you personally believe in it or not, today we are going to talk about the feng shui beliefs among Malaysia’s three main races.

The Malays, the Chinese, and the Indians, all have their own moving rituals that they practice before moving in into a new, empty house. Of course, these days, practicing these rituals is more of a pleasing act for the parents, although the belief is starting to regain popularity among youngsters who are interested in having “good energy” flow through their house.

For Malays, their moving ‘feng shui’ is based on their religion – Islam. As Muslims, they’d recite surahs from the Quran and perform azan and prayers when they first move in into an empty house. Muslims believe in the existence of other entities / spirits, and these entities are believed to often reside in empty, “abandoned” houses and by doing these moving-in “rituals”, it’ll alert the entities of new residents coming in and that they should leave the house. Muslims also believe this practice will help guard the house from any visit of these entities for as long as they reside there.

The Malays also often organise a housewarming event whenever they move in into their new house. Traditionally, the event begins with prayers recital known as ‘doa selamat’. Usually but not necessarily, a Tok Imam (religion leader) would lead this recital as to bless the home and the family living in it. Alternatively, this recital can also be led by an elderly male of the family. The event is then followed by a feast session that is meant to form bond between the family and their new community. It is also often used as a chance for them to introduce their family members and friends to their new neighbours and vice versa. This practice often initiates trustworthy relationships between the parties involved.

The Chinese community is also rich with traditions and feng shui beliefs when they want to move in into a new house. Traditionally they would leave the lights on starting three days before moving-in day as to fill the house with ‘yang’ (positive) energy and to rid of any ‘yin’ (negative) energy. Moving in into a new house filled with yang energy indicates a new positive beginning for the family that will hopefully lead to many fruitful opportunities and abundance of prosperity.

Another common Chinese tradition is to open all doors and windows when first moving in. Generally, this allows fresh air and sunlight to travel in and out of the house, creating a fresh atmosphere and making the new home feels vibrant. However, this ritual is also embedded in the yin & yang belief. By leaving the doors and windows open, it is believed that it will attract more positive and prosperous energy to flow into the home, increasing the family’s luck.

As for the Indians, their moving-in beliefs are just as interesting as the other two races. A huge majority of the Malaysian-Indians are Hindus, and when they first move in into a new home, they would invite a priest over to lead the moving-in prayer. This includes setting up a prayer room and displaying a photo of one of their Gods and setting up an oil lamp. Post-prayer, the family will then boil milk in a brand-new pot until it overflows and spills over. This milk is now considered as holy water, and it will be offered to the family’s patron God and the remaining will be served to the guests. A portion of it will be sprinkled around the house to ward off evil spirits and negative energies.

Another traditional feng shui ritual for the Indians is to break a coconut – a fruit that is considered as sacred and pure according to Hindu values. Families are encouraged to break a coconut by throwing it onto the ground when they are moving in into a new home as an act to receive blessings from God. This ritual is also a common practice during other various occasions such as weddings and festivals.

These are among the common feng shui practiced by the three main races in Malaysia. Being a melting pot of races and culture, there are plenty more races with plenty more beliefs that are practiced in Malaysia, and whether you believe in them or not, it sure is interesting to learn about them and to cherish the diversity among us Malaysians.

Planning to buy your first house? There’s really no better time to do so! Especially with the HOC extended till the end of 2021, as well as BNM maintaining its OPR at an all-time low of 1.75%. You also happen to have a healthy DSR? Great! Hold up, you look confused, did all these abbreviations confuse you? Believe it or not, we were once in that spot.

The process of buying your first home can be overwhelming because it is not merely a cash and carry process. Besides having an in-depth knowledge of the potential property, being well-versed with banking and property abbreviations is equally as important.

In this article, we won’t be going too in-depth on every abbreviation so that you can take your time to digest all this info. Here is our pick of property abbreviations that you need to know to help ease your way on your journey to securing your first home:

1. HOC

Introduced back in 2019, HOC is the abbreviation for Home Ownership Campaign, a government initiative intended to aid homebuyers in search to purchase their dream property and simultaneously catalyze sales of unsold properties in the housing market of Malaysia. The HOC comprises significant stamp duty exemptions on Instrument of Transfer, Instrument on Loan Agreement, and much more. Be quick though because this campaign is only here to stay till the end of 2021.

2. MPC, BNM, and OPR

Hear us out on why we place them together. The Overnight Policy Rate (OPR) is an overnight interest rate set by the Monetary Policy Committee (MPC) of Malaysia’s central bank, Bank Negara Malaysia (BNM) intended for monetary policy direction. Remember how we mentioned that at the time of speaking the OPR is at its all-time low and that’s a good thing? The lower the OPR is set, the cheaper it is to take a loan and thus, better capabilities of accessing capital, be it for personal or commercial reasons, and vice versa.

3. DSR

A Debt Service Ratio (DSR) is a method used by banks to gauge your ability to afford the loan that you just applied for. When purchasing a house, DSR is crucial as banks use this formula to determine the amount that you can afford to pay for your monthly property loan instalments. A healthy DSR is in the 30-40% range. In short, the lower your DSR, the merrier but should your DSR be on the high side, don’t give up just yet. You can always seek advice from your bank on the highest DSR that they accept because every bank’s DSR limits may differ.

4. CTOS

Credit Tip-Off Services or better known as CTOS in short is a report that is issued by CTOS Data Systems Sdn Bhd, which is one of our country’s leading private Credit Reporting Agency (CRA) which archives an individual or organization’s complete credit record. Contrary to a Central Credit Reference Information System (CCRIS) report which only tracks credit history for the past one year, CTOS reports are stored indefinitely. A good CTOS score will boost your credit application approval and ultimately, bring you one step closer to your dream home!

5. DOA

No no, it’s not prayer in Malay, but instead stands for Deed of Assignment. DOA is a legal document that is used to transfer the ownership of a property/a debt from one party to another. It confirms the transfer of ownership from the ‘Assignor’ (the individual who currently owns the property) to the ‘Assignee’ (the individual who is acquiring the property).

6. MOT

The Memorandum of Transfer (MOT) is a legal document that follows the SPA and confirms the actual transfer of the ownership of the property. It confirms the actual transfer of ownership of a property. Wait, MOT sounds very similar to DOA, yes? Signing the MOT signing signifies that the Land Title will be transferred from the developer to you. For high-rise units, once it is divided, the MOT needs to be filed at the Land Office to transfer the ownership of the unit from the developer to the buyer. The signing of the MOT is the legal confirmation of transfer of ownership and generally forms the final step of the transfer process.

7. SPA

The Sale and Purchase Agreement (SPA) is an extremely important document that defines the terms of a house sale. A legally binding contract between buyer and seller that confirms mutually agreed conditions such as the method of payment, defect liability period, conditions of the property, fixtures, and fittings, and other relevant clauses.

8. DLP

Do you know how our new phones and electronics come with warranty? Defect Liability Period or DLP in short is sort of the same thing but for properties instead. It is a specific period where your developer is responsible to fix any defects identified in your new home. Spotted misaligned or hollow tiles, uneven paint, or crack ceilings? It’s part of the SOP for developers to thoroughly inspect the property before vacant possession (VP), while you get all excited for your new house, knock and skim through every corner of the house! Under the Housing Development Act in Malaysia, the DLP period is 24 months for individual titles and 36 months for strata titles, beginning from the day you take the keys for your new house, so start checking away!

9. CCC

CCC stands for the Certificate of Completion and Compliance (CCC) which is also by far one of the most important documents in the journey of securing your dream home. This black and white is issued when your newly built house is signed off as completed and safe for habitation, as evaluated and submitted by an appointed architect known as Principal Submitting Person (PSP).

10. BLR

To make it easy to digest, Base Lending Rates (short for BLR) is the base interest rate that banks internally turn to prior to finalizing the rate to charge for your home loan. To describe more precisely, BLR is the rate determined by each bank according to the cost needed to borrow the money to be lent to borrowers, which is determined by the aforementioned OPR.

Well done! You’ve made it till the very end. Of course, there’s so much more to learn in the world of property and every abbreviation actually deserves its very own article. But no worries, we are confident that you are now much savvier than when you started. Did you like what you read? Let us know in the comments down below how we can help you be better equipped in buying your new house!

#Let’sBeSavvy

The past decade has witnessed an upward trend in property prices. However, the past two years have taken a halt in the trend due to oversupply and added pressure to keep the prices down caused by the pandemic. Owning a property involves a long time commitment which will affect one financial situation. Much thought is put into it before an individual decides to purchase their first home or even their next one. With the declining market price, multiple campaigns and incentives, is it the right time to purchase? Even if it is for investment purposes, with the uncertainties due to the pandemic, what is the right choice?

The Home Ownership Campaign (HOC) was reintroduced in 2020 by the Government as an initiative of stimulating the property market and providing financial relief to homeowners. The joint effort between the Housing and Local Government Ministry (KPKT) and Real Estate and Housing Developers’ Association (REHDA) Malaysia aims to help first-time homeowners. Even so, the campaign is open to all Malaysians with no limit on the number of purchases.

There are pros and cons to this campaign. Other than the stamp duty exemption and 10% discount on the price, the Overnight Policy Rate (OPR) is also at its lowest. Do keep in mind, these benefits are only applicable towards newly launched projects and not applicable towards commercial units. Competitive pricing, location, accessibility and safety are among the factors that will influence buyers in making a purchase.

With the implementation of the multiple Movement Control Orders (MCO) in the past years during the pandemic, data have shown that Malaysians are more interested in spacious properties outside of the dense city areas. Landed units with competitive prices have shown higher demands compared to high-rise buildings.

LBS Bina offers you affordable options to choose from. Terraced houses, townhouses and even serviced apartments. With prices as low as RM250,000 for a unit at KITA Ria serviced apartments, the property offers you a cosy apartment for a close-knit community. This guarded apartment is located in the KITA @ Cybersouth township located within the developing Southern Klang Valley.

Easily accessible via major highways including the Putrajaya-Cyberjaya Expressway through Elite Highway, Maju Expressway (MEX), South Klang Valley Expressway (SKVE), North-South Expressway (NSE), Damansara-Puchong Highway (LDP), and Jalan Dengkil-Banting. Strategically located between Putrajaya and Cyberjaya, KITA @ Cybersouth is close to various key public amenities, such as commercial hubs, financial institutions, governmental administration centre, international airport, healthcare providers, and many others.

With all the enticing offers in the market, isn’t it the right time for you to make your purchase?