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Image from: Myra

Over the years, the property industry has not seen a big shift in the complex homebuying process. Recently, Myra launched their website with a clear 4-step method to ease first-time homebuyers' homebuying journey.

As the latest instalment to Myra’s educational ecosystem in order to continue their mission by curbing existing obstacles in the current conventional home booking process, they bring us a new digital platform - a home booking web app - Myra’s Homebuying Hub.

Accessible through Myra's website, the new booking app simplifies the entire purchasing process bby providing templated examples of documents to submit as well as other information to guide you on your home buying journey along with an online calculator to work out your monthly bank loan repayment instalments. Purchasers can also easily upload documents into their personal folder onto their profile on the app. Myra will then be able to review the documents and offer assistance in terms of document submission. The app also serves as a portal to update purchasers on their booking.

Committed to Making A Difference

Myra's team is well aware that the whole journey of buying a home is long-winded and tedious, especially the home booking process, since it involves many things that are unfamiliar to first-time homebuyers.

Wendy Lim, General Manager of Myra said, “We started with what we could with the website, a simplified fun 4-step journey that summarizes the entire homeownership journey into layman terms. After receiving positive responses, we began to think more about how we could improve the entire experience for a young homebuyer.”

Most first-time homebuyers are equipped with limited homebuying education, hence Myra’s Homebuying Hub acts as an additional branch of education on their current website to focus on the other areas that homebuying holds and provide better, more informative and guided education.

Digital Solutions to Current Challenges

Myra’s Homebuying Hub was created to address two key problems – the lack of convenience and the thirst for knowledge. Firstly, Myra customers will be able to get the best, most seamless experience possible. Secondly, the information on the app bridges the knowledge gap through education and awareness.

As exciting as it is to purchase a home for the first time, homebuyers will need to calculate installments, current repayments, interest rates and Debt Service Ratio (DSR) checking. In most instances, these tasks are done manually and written down on a piece of paper, inconveniencing homebuyers should they lose it and are unable to recall these important calculations.

With app features like online instalment calculators, DSR calculation rating, document submission guide and additional tips for homebuyers, Myra ensures their homebuying experience is smooth and educational for their homeowners.

In the past, document collection for the purpose of loan applications was also a highly inefficient back-and-forth manual process for all parties involved. Often having to make personal visits to the developer’s office to provide documents such as EPF statements, EA form, income tax and more, young first-time homebuyers are likely to be overwhelmed by the load of documents that they need to prepare.

Now, both parties will be able to skip the tedious manual liaising processes and Myra can streamline everything digitally as well as issue an official receipt upon payment. Homebuyers, on the other hand, will enjoy having an easy point of reference for any documents that they will need to complete the booking, and at the same time, receive quick assistance from the Myra team throughout the journey to owning their home.

“We want to build an entire Myra-ecosystem that every single individual who wishes to be a homebuyer, to look into anything related to homes or homebuying would come to. The booking app might be one of our first innovations, but it certainly would not be our last,” Wendy added.

Set to be launched in January 2021, Myra’s Homebuying Hub will collect, store and handle personal information of individuals in accordance with the Personal Data Protection Act 2010 (“PDPA”) and has obtained SSL Certificate to ensure the security of every app user’s privacy. 

(27 January 2021)


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