How to stop renting and save RM12,000 a year

Are you struggling to live within your means? Is your fixed monthly expenses taking up all of your income?

According to BelanjawanKu, the Expenditure Guide for Malaysian Individuals and Families, launched by the Employees Provident Fund (EPF) in March, individuals who are single require RM2,490 a month to live in Klang Valley while married couples with one child should have an estimated budget of RM5,730 in household expenses.

Source: BelanjawanKu, Expenditure Guide for Malaysian Individuals and Families, Klang Valley 2019

At RM300 a month on housing expenditure, singles can afford only a room at a low cost apartment. A quick check on popular listing sites will show that room rentals in the heart of Klang Valley ranges between RM350 – RM500. If you are married, you can expect to spend RM850 – RM1300 for a 2-bedroom apartment or single-storey house.

Let’s compare the housing expenditure of these two categories if they were given the option to own a home without a mortgage.

With FundMyHome, you don’t have to continue renting. You can make a one-time payment and have 20% equity in your own home. What’s even better is the mortgage-free ownership that you will enjoy – you do not have the burden of monthly repayments for 5 years!

Wondering how to finance the 20%? We’ve got you covered.

Through FundMyHome, first time home buyers can opt for a government loan of up to RM30,000 from the Ministry of Housing and Local Government (KPKT) under the FundMyHome+DepositKu scheme. 

Let’s say you need RM61,400 to own your first home on FundMyHome:

With DepositKu, you pay RM31,400 after subsidising RM30,000 with the loan.

If you are a Bumiputera, you will need only RM9,910 for the same property!

By lowering the barriers to entry, FundMyHome makes home ownership more accessible. With no housing debt to worry about, buyers will then have some flexibility to focus on other important needs or goals.

If you have been paying at least RM1,000 in rental a month, you could potentially turn this into savings and have RM12,000 in 1 year. With some careful planning, there will be more room to improve your finances within 5 years.

Are you eligible to own a home on FundMyHome? As long as you’re a Malaysian aged 18+ and not a bankrupt, you can sign up right away! Don’t wait to own your first property. Visit for an easier way to get on the property ladder.