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Living in JB 3 (Johore)

streams

Alfrescian
Loyal
Is re-financing every few years important? I have housing loans for almost 4 years. And is it better to place all loans under a fav bank or spread them out to different banks.

The Islamic loan is just a repackaged normal loan. There is a cap on the interest rate, which is a good thing to avoid a spike in the event of a market turmoil.

There is always a price for benefits. Check the rate, terms and conditions of the insurance.
 

FHBH12

Alfrescian
Loyal
Is re-financing every few years important? I have housing loans for almost 4 years. And is it better to place all loans under a fav bank or spread them out to different banks.
Re-financing works well in Singapore where there are many packages (e.g. Sibor, SOR, fixed, floating pegged to deposit rate etc), and price wars break out among the banks occasionally. Due to the need to stimulate the economy and the already quite high-interest rates, the Malaysia banks seldom adjust the rates nowadays. It is quite a hassle to change bank if you are not based in JB and don't have the energy/time to entertain requests for documents and signatures. There are also administrative charges and early redemption of loan depending on the fine print in your loan contract.

It is better to loan under the same bank as you can negotiate for better rates (e.g. interest rate, admin charges etc) and it is also administratively easier for you to monitor. 4.25% you obtained is actually quite good. Do buffer at least 2 months of loan installment into your account to avoid missing installment, which will send the rates going up by 2-3% as a penalty.
 

Investor

Alfrescian (Inf)
Asset
Forgot to mention that the HQ officer advised us (if we are not applying for any visa) that the new law now requires us to reside in SG for a week (at least 6 days) for every 3 weeks in JB.
If they have reduced the 30 days of Social Visit Pass for Singaporeans to 21 days, this is a big change and should have been reported in SG's news.
There should also be new Arrival Stamps which state 21 days instead of 30 days.
MACS stickers will also be changed to reflect the same.
Have all these happened yet?
 

Investor

Alfrescian (Inf)
Asset
Forgot to mention that the HQ officer advised us (if we are not applying for any visa) that the new law now requires us to reside in SG for a week (at least 6 days) for every 3 weeks in JB.
Another question is - Do they mean a continuous stay of "3 weeks" in Malaysia without exiting? If yes, it's back to the same "exit and re-enter", just that it must be every 3 weeks instead of 30 days.

Lastly - Is it illegal for a Singaporean to visit Johor every day for different reasons?
 

FXHarvest

Alfrescian
Loyal
If they have reduced the 30 days of Social Visit Pass for Singaporeans to 21 days, this is a big change and should have been reported in SG's news.
There should also be new Arrival Stamps which state 21 days instead of 30 days.
MACS stickers will also be changed to reflect the same.
Have all these happened yet?
Seems like it has not happened yet. My mom has applied for MACS and since then we were never questioned again.

Another question is - Do they mean a continuous stay of "3 weeks" in Malaysia without exiting? If yes, it's back to the same "exit and re-enter", just that it must be every 3 weeks instead of 30 days.

Lastly - Is it illegal for a Singaporean to visit Johor every day for different reasons?
Yes, they mean a continuous 3 weeks without exiting.
I don't think it is illegal to visit JB every day but it seems to me it is illegal to use the short-term visa free period to reside as a long term resident there, and trying to get around it by just stamping the passport within the visa-free period.
 

congo9

Alfrescian
Loyal
not boasting but if r earning S$ you know how cheap the house is right?
Hi Friend, i really don know where to get cheap house so call. That why i need to seek advice from you guys who are Gurus in JB property market. But is it worth the salt of money to buy into Molek Pine with RM 1.68 Million. I mean the Terrace and Bunglow is also at this price too at Johor.
 

snowbird

Alfrescian
Loyal
Hi Friend, i really don know where to get cheap house so call. That why i need to seek advice from you guys who are Gurus in JB property market. But is it worth the salt of money to buy into Molek Pine with RM 1.68 Million. I mean the Terrace and Bunglow is also at this price too at Johor.
Cheap or expensive is relative.
There are many factors affecting the property price, even same type of unit within the same neighborhood, prices varies.
Location is main factor, then the neighborhood's security, the amenities around, the roads leading in and out of the estate, etc.....
What are your priorities, requirements and what are your financing resources and threshold and talk to a reliable and experienced property agent.
Do some homework and then you'll be able to answer to yourself is RM1.68mil reasonable.
However, in SG, this amount can't even buy you a HDB 5rm flat is popular estate.
 

kcwx35

Alfrescian
Loyal
I seen one at Molek Pine 2 , I am thinking buying a big one. Is it over prices at 1.68 million RM ? The place is 28oo Sq ft
Bro, I am also same situation like you. Looking at Eco Botanic with land area of 2100bsqf and built up area of 2918 sqft. It costs around RM$1.4M.
Frankly speaking, not sure whether it is cheap.
We like it even after looking at other projects. So I am ready to go for it.
 

congo9

Alfrescian
Loyal
Bro, I am also same situation like you. Looking at Eco Botanic with land area of 2100bsqf and built up area of 2918 sqft. It costs around RM$1.4M.
Frankly speaking, not sure whether it is cheap.
We like it even after looking at other projects. So I am ready to go for it.

HDB dweller like me do not know how to look after big house, specially landed. I would prefer a condominium that someone will get all the work and maintenance done hopefully.

What happen if i a snake comes running into my compound or rats. Burst piping... exterior painting. That's a lot to think about.

Condominum at least the exterior and facility is taken care by other professional.
 

snowbird

Alfrescian
Loyal
Finally, days of free parking in the suburb is over now.
MPJBT has already put up paid parking signboards all over JB to remind motorists that parking charges on marked lots are already implemented.
Unlike in SG where the parking coupons are easily available in all petrol kiosks, 7elevens, etc. but not here!
So, all motorists, better have some coupons in your car in case you need to use.
 

streams

Alfrescian
Loyal
Re-financing works well in Singapore where there are many packages (e.g. Sibor, SOR, fixed, floating pegged to deposit rate etc), and price wars break out among the banks occasionally. Due to the need to stimulate the economy and the already quite high-interest rates, the Malaysia banks seldom adjust the rates nowadays. It is quite a hassle to change bank if you are not based in JB and don't have the energy/time to entertain requests for documents and signatures. There are also administrative charges and early redemption of loan depending on the fine print in your loan contract.

It is better to loan under the same bank as you can negotiate for better rates (e.g. interest rate, admin charges etc) and it is also administratively easier for you to monitor. 4.25% you obtained is actually quite good. Do buffer at least 2 months of loan installment into your account to avoid missing installment, which will send the rates going up by 2-3% as a penalty.
In that case, I hope I can place the loans under the same bank. what do you think of UOB, OCBC and HSBC? much thanks.
 
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