BY SHERRY KOH

Today, the primary force that drives so many people to bankruptcy is their desire to live beyond their means. Many default on their car, housing and personal loans simply because they want to live a lavish lifestyle.

Even without being fully established in their careers, they choose to buy an expensive car when a simple entry-level car would suffice. It is the same kind of thinking that makes them go for high-end properties instead of affordable ones.

Those who are just starting out should switch on their “trading up” mentality. They should think about purchasing lower-priced properties first. After all, property is a good hedge against inflation. When the lower-priced property increases in value, capital appreciation can be used to slowly trade up to better properties.

Home ownership transformation programme
That is one of the key reasons StarProperty.my, together with Propwall.my, initiated Own It, which a home ownership transformation programme that is designed to assist first-time home buyers towards owning a property.

Star Media Group general manager of the property business unit Timothy Hor said, “The core purpose of Own It is to help young Malaysians, Gen Ys and the millennials, better understand the home buying process and start planning their journey towards owning their first home.

“For many of our younger generation, the lament about not being able to afford their own homes has become louder in recent years because of the escalating property prices. And many have accepted the fact that they will be a “generation of renters”.

Educational: Hor showing a StarProperty.my pullout

“We want to help change that mindset and provide them with a platform to better understand and learn about property ownership and hopefully inspire them to start planning to buy their first home.”

The ongoing Own It programme consists of a series of educational forums and sharing of pertinent information on property investment. The programme kick-started in May 2015, when StarProperty.my managed to help several first-time home buyers purchase their first property.

Own It is StarProperty.my’s CSR (corporate social responsibility) initiative and the company is consistently working with developers to explore attractive starter home offerings, while providing financial and investment guidance for eligible first-time home buyers.

Register for Own It forum
To keep the momentum going, StarProperty.my will be starting a series of educational talks and the first one is a two-parter. It will be held on Aug 1 and Aug 8 at Tropicana Metropark’s property gallery, from 2pm to 4.30pm.

There will be a FlexibleLove chair worth RM1,385 given away each day.

Admission is free, but seats are limited. Light refreshments will be served.

Register at starproperty.my/ownitforum