New land properties you can buy in Selangor with a monthly repayment of less than RM1,600

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Ability to afford a house is heavily based on one’s salary, with banks typically granting loans of up to 30% of annual income.

Thus, before consumers embark on the search for housing, it is important to first know the amount of the mortgage to which they are entitled to determine their budget.

PropertyGuru’s recently improved Home Loan Calculator is a helpful tool that provides estimated monthly home loan repayments for consumers’ dream homes. For example, a person with a monthly salary or a combined household income of RM5,000 can already afford a property worth RM400,000.

That’s assuming they have enough savings to make the 10% down payment, take out a 90% loan with 3% interest over a 35-year term, and Buyer has a healthy credit rating and only spends 30% of monthly salary on repayment – ​​which is the general rule. Based on these assumptions, a quick calculation with the home loan calculator shows that a RM400,000 property only requires a loan repayment of RM1,539 each month.

Some Malaysians in this income group might feel that it is still not enough for them to buy a house, especially if they are looking for land ownership. It’s not true. For Malaysians who have reached the monthly salary threshold of RM5,000, have sufficient savings and are now looking for accommodation at home, these projects could be up to their expectations and within their budget.

Four new projects with monthly loan repayment below RM1,600 in Selangor

1. Casabayu – Dengkil, Sepang (from RM399,714)

This development is suitable for those looking for a healthy family life – where children can run free amid the bliss of nature and adults can enjoy the tranquil environment – whether they are working or taking time to rest and recharge.

2. Regent Garden Co-Home @ Eco Grandeur – Puncak Alam, Kuala Selangor (from RM408,000)

Eco Grandeur is an integrated canton. It introduces an innovative new Co-Home living concept, in which two houses share the same footprint – one downstairs, the other upstairs. Each unit offers single level living and is spacious enough to accommodate a family.

3. Taman Adenium (Phase 6) – Bukit Beruntung, Rawang (from RM390,600)

Taman Adenium is an affordable, freehold development that caters to middle income people, suitable for first time home buyers or young couples looking to start a family.

The development is surrounded by shopping malls, residential centers, financial institutions, schools, industrial parks, a tropical golf club and a variety of amenities.

4. Simfoni Perdana & Irama Perdana @ LBS Alam Perdana – Bandar Puncak Alam, Kuala Selangor (from RM368,000)

LBS Alam Perdana Township spans 469.86 acres of land. The gated and guarded township will have private gardens and communal facilities that will allow residents of the township to bond with each other, as well as a dedicated jogging path along the lake for everyone to exercise and enjoy outdoor activities with family and friends. In addition, there will also be a beautiful and safe lane garden for residents to enjoy their moments of relaxation.

Source: PropertyGuru

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