PETALING JAYA: Despite the tax relief announced in Budget 2025, Ho Chee Wa says that he can only buy a single-storey terrace house in the outskirts of Klang Valley.
"If I buy a studio apartment, it will not be anywhere near the city centre as those prices only cover apartments in areas like Ulu Yam or Semenyih.
"Most first-time buyers may be looking for a small place but we want to be near the amenities and these amenities are only available in the urban areas.
"The government should increase the cap to RM800,000, which is more reasonable,” said Ho, 28, who is single and earns RM4,500.
Kevin Tan said that the government should also include those who bought their first homes this year in next year’s Budget.
"I just bought a house for RM900,000. I do feel left out by Budget 2025 because it should at least include first-time housebuyers who bought houses this year.
"Also, the threshold is simply too low. Not many good landed properties are priced below RM750,000. This will be tough for many first-time homeowners to claim the tax breaks next year.
"The government should revise the threshold for home prices for discounts,' said Tan, who works in public relations.
Kindergarten teacher Rosmalina Wanie Amin, 30, said that she paid the downpayment for a 600sq ft condominium costing RM450,000 in Subang.
"My loan agreement was signed early this year but I would have to pay more than RM1,000 a month for the instalment when I get the keys by 2027.
"So, the tax relief does not really benefit me as I will miss the timeframe when I receive the keys. It would be better if we get tax relief on the loan interest payment when we actually start serving the loan, not from the date we signed the loan agreement,” she said.
Her sister Rasnida, 36, said the government must realise that first-time buyers would have to fork out more than just the price of the house if they are buying from developers.
"The tax relief of RM7,000 on loan interest of homes priced at RM500,000 will benefit first-time buyers outside the Klang Valley.
"Buying from a developer at below RM500,000 means you would have to fork out at least another RM100,000 when you take vacant possession to get the home ready to stay in.
"Buying a house is not like buying an outfit. There will never be a perfect home, so go for what you can afford and grab at the incentives,” said the mother of two.
Rasnida said she owns a house in Seremban which cost RM450,000 when she first bought it in 2022 with help from the Housing Credit Guarantee Scheme (SJKP).
"The agency was very helpful in getting the bank to give me a loan as I run a business from home and do not have a payslip."
Graphic designer Aleesa Majid, 32, said that the RM7,000 tax rebate in the first three years will help her when she buys a house.
"The rebate helps ease the financial burden, especially during the initial years of homeownership when there are often many additional costs like moving, furnishing, and maintenance.
"The extra savings could go towards covering those expenses or even reducing my loan repayments.
"Buying a house is a big decision with many factors to consider, so an incentive from the government would encourage me to take the plunge within the next few years,” she said.
