The Covid-19 pandemic has unleashed changes that seemed unthinkable about a year ago and it is likely that it will bring more changes in the months ahead.
As it is now, more people are shopping and paying their household bills online, as well as purchasing food through delivery service applications (app) through a time of unprecedented uncertainty.
In the property sector, developers are launching innovative ideas to sell their existing stock and new developments. Because of the on-going pandemic, developers are not able to launch their property projects the way they used to previously, or invite homebuyers to their sales gallery.
Standard operating procedures (SOPs) during this Covid-19 pandemic are necessary to keep everyone safe. But life has to go on with as little disruption as possible and developers being developers, they have to continue to sell their properties.
Many developers have started to introduce digital property campaigns and offer buying solutions through their website.
Myra, a boutique developer, recently introduced its website with a simple four-step process to ease the homebuying journey, especially for first-time homebuyers.
It is set to launch this month a new digital platform - a home booking web app called Myra's Homebuying Hub.
According to the company's general manager, Wendy Lim, the Homebuying Hub will collect, store and handle the personal information of individuals in accordance with the Personal Data Protection Act 2010 and has obtained SSL Certificate to ensure the security of every app user's privacy.
Lim said the new booking app simplifies the entire purchasing process as there are templated examples of documents to submit as well as other information provided to guide homebuyers on their home buying journey along with an online calculator to work out the monthly bank loan repayment installments.
Purchasers will easily be able to 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, she said.
Lim said the app also serves as a portal to update purchasers on their booking.
"Having a young target market, Myra is well-aware that the entire journey of buying a home is long-winded and tedious, especially the process of home-booking because it involves many things that first-time homebuyers are not familiar with," she said.
"We started with what we could with the website, a simplified fun four-step journey that summarises 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," she said.
Lim said the Homebuying Hub acts as an additional educational tool to focus on the other areas that homebuying holds and provide better, more informative, and guided education.
"The Homebuying Hub was created to solve two main problems, the first being the lack of convenience and the thirst for knowledge. Our customers will be able to get the best, most seamless experience possible. Secondly, the information on the app closes 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 installment calculators, DSR calculation rating, document submission guide, and additional tips for homebuyers, Myra ensures their homebuying experience is smooth and educational for their homeowners," Lim said.
In addition to that, both Myra and the homebuyers will be able to skip the tedious manual liaising processes.
Myra can streamline everything digitally and issue an official receipt upon payment. The homebuyers, on the other hand, will enjoy having an easy point of reference for any documents that they will need to complete the booking.
Lim said that ultimately, all homebuyers will have a digitally housed copy of all necessary documents that they would be able to refer to or download for their future usage and reference, whether or not they proceed with their booking, or reconsider buying another home in the future.