A home co-ownership program that helps people upcycle homes in well-loved neighbourhoods by providing cash for renovations.
Duit Reno
Fast-track your homebuying journey without worrying about upfront renovation costs. Create the home you've always wanted without financial stress.
Zero monthly payments
Our home co-ownership program is debt-free, involves no monthly repayments, and shares in the profits when the property's value appreciates.
Upcycling for Sustainability
Upcycling an old house revitalizes it, giving new purpose to forgotten spaces, advocating sustainability, and preserving the charm of the past for future generations.
Homeowner engages with UrbanWave when buying a house and applies for mortgage* (up to 90%)
*UrbanWave does not participate in the mortgage
UrbanWave House Criteria:
- Subsale landed property
- Freehold
- More than 15 years old
- Below RM1.5million
- Cleared by Nowcast, our A.I price checker
UrbanWave provides upfront cash for the renovation, in exchange for minority shares in the house.
Homeowner stays in the house without repayment to UrbanWave. We share the profits when homeowners decides to sell in the future when property value appreciates.
Frequently Asked Questions (FAQ)
How does UrbanWave work?
UrbanWave revolutionizes homeownership by empowering aspiring individuals to fulfill their dreams of owning landed houses. Through our innovative co-ownership model, we enable individuals to not only become homeowners but also secure the necessary funds for the home purchase and renovation process.
Successful applicants will obtain funding to kickstart their home ownership journey. In exchange, UrbanWave will acquire a minority share in the property, becoming co-owners and partners in the homeownership endeavor.
What is the property criteria to sign up with UrbanWave?
Homeowners seeking freehold landed properties that are at least 15 years old and have successfully passed our Nowcast* evaluations are welcome to sign up with UrbanWave.
Can I buy back the shares later?
Homeowners have the option to repurchase the shares from UrbanWave within a specified timeframe.
However, once this period has elapsed, they will no longer have the opportunity to buy back the equities. Homeowners will become perpetual co-owners with UrbanWave until the occurrence of a triggering event, such as the sale of the property.
Can I sell my property after I signed up with UrbanWave?
Yes, homeowners have the flexibility to trigger the sale of the property at any time, as long as the selling price exceeds the minimum home value*. This ensures that homeowners have the opportunity to benefit from potential appreciation in the property's value when deciding to sell.
What happens in the long run after the renovation is completed, and I’m living in my dream UrbanWave home?
Homeowners have the freedom to reside in their property indefinitely and have the option to rent it out at their discretion. The legal co-ownership arrangement with UrbanWave remains, and its implications come into effect only when specific triggering events occur, such as the homeowner's decision to sell the house or if the homeowner defaults on their obligations.
Have more questions? Contact us and we will be happy to answer them!