Owning your own home is perhaps the biggest financial decision you will ever make. And as prices continue to go nowhere but north of up, you'll need to equip yourself with the knowledge of financing options that offer the best for any financial situation you're in.

If you're looking to own your first home, you'll need to set aside a little more cash than just your downpayment. Here are the 3 major areas in which you'll be spending the most:

1. Home renovations
2, Furniture
3. Gadgets and accessories

While you may be able to set aside gadgets and accessories for a later time, the first two on the list are somewhat necessities if you're planning on living in your first home for a long time.

Bank Rakyat addresses these areas with financing packages that will be able to ease your financial burden quite a bit. Called Realizing Dreams with Home Financing-i, their contest includes prizes as per below:

1. Home renovations
2. Furniture
3. Monthly installments 

There will be 2 winners, winning an estimated prize value of RM50,000 each, and winners are able to pick whichever of the 3 they wish to receive from Bank Rakyat.

All you have to do is SMS the desired prize you want to "DREAMHF" and include your IC number, and prize of choice, and send it to "66300." Check out the instructions as below:

The contest is open to customers who apply and are approved for the financing scheme within the duration of the campaign. Every successfully approved applicant will have to send the SMS above to participate in it.

The campaign will run from 1 January 2016 to 31 March 2016.