Dear all, this was long overdue, please post all newbie questions here.
This is also the place for basic information(bros who see such questions or people who don't have the time to read up, please help to direct them here):
All prices referred here are in RM unless otherwise specified.
I will contribute first:
Some information from first hand experience.
1. Yes you can buy a house, condo and even shops/factories here.
2. The first 2 houses, you can get 80% or higher loan here, the third one onwards you can only get 70% loan
3. Yes, you can definitely get a MY car here. MY car loan you can definitely get, normally 70-80%. 9 years loans are very common. Yes, you can drive a MY car here
4. A second hand car can be purchased for 10k RM or less. A typical sedan (Proton) costs about 40 plus k. Road tax can be as low as 90 for a 1.6l car or 800 plus for a 2.5 l turbo diesel.
5. You can definitely buy pork here. Wild boar meat, go to Perling wet market (behind Perling Mall)
6. For residential house, you need to buy at least 500k and above. It needs to be at least 2 storey and above as well.
7. For commercial shops, you need to buy at least 3 storey and above.
8. You can get loans easily from local Malaysian banks, not all International banks are good here.
9. MRTA is a type of insurance which is similar to the DPS scheme in SG
10. Fire insurance will normally be part of your loan package (where you normally pay)
11. Banks that allows foreigners to have current account, HLB (formely EON bank, which incidentally was easier), Alliance bank, etc.
12. Good bank to have on your side if you encounter financial difficulties - Maybank
13. Good bank to consider for housing/commercial loans - Maybank, Public Bank, HLB, OCBC
14. Good bank for car loans - Ambank
15. East Ledang, Horizon Hills, Nusa Idaman, Nusa Duta, Laguna are amongst the more well known developments
16. Avoid the government run developers where possible, you have little recourse if they promise you something but reneged
17. Use your own lawyer where possible in subsale/resale scenarios, use own lawyer if you doubt the developers guys
18. Get MACS from the CIQ/Danga Bay and bring with you, colour passport size photographs. It allows you to stay here for 30 days. Last for a year and is 30 RM. Need at least 13 months validity on your passport. Sometimes Jusco will have a booth where you can do it with just your passport(no need photographs)
19. Yes you can drive an MY or SG car to the border crossing to SG and then make a U turn after exiting MY and coming back again. There is nothing on your passport normally even if you get to SG (if you are using SG passport) so the customs at MY will not bother. Its better if you have MACS, that way your travel to and fro will be easier and faster. MACS is only for Johore use and restricted to the main border points between SG and Johore.
20. Avoid contractor/ID recommentation from the developers or the agent. Compare and do your renovation slowly, never feel forced or coerced into making fast decisions.
21. Again use the developer or buy direct whenever possible.
22. Buy gated and guarded whenever possible, despite some claims, G&G is still better than having no guards.
23. Check the DMC or documents for a Strata title to verify your rights and obligations when making a purchase, ask developer for a sample copy.
24. Tesco has alot of useful items: Large baseball bat type of steering wheel lock (60 RM or less), pepper spray (13.90 RM). Daiso has useful magnetic alarms that are activated when you pull them apart(5 RM) Useful for windows, sliding doors and the top of your 2nd floor where a trapdoor is for roof access.
25. Get CCTV and make friends with your neighbours whenever possible. Malaysians generally are very nice and warm once you get to know them.
26. Some developments have 80/20 rule where you can only buy under a quota.
27. Avoid any housing built on agricultural/bumiputra land, buy only those that are on international gazetted lots or for foreign ownership
30. If even one name is from a foreigner buying a property though the rest are all Malaysians, you will still be subjected to foreign levy.