Couple Escaped Buying Wrong Property Investment. “We Were Glad To Hear From A Second Opinion”
This could have happened to you. You are most likely ready to purchase a property investment. You have seen a few Show Flats or Resale properties with your agent. You might even be ready to purchase
But something held you back. You are not sure if it is a good purchase cause after all, it’s a big ticket item. And we are talking about $1 million dollars and above
So what really went wrong for you?
As of now, you probably might know that i have been assisting many clients in their property investment journey and i can totally understand a few reasons that could have slowed down your progress
And do you know what is the main reason?
Everyone says “YES” to you!
Everyone “AGREES” with you!
What do I mean by that?
Everyone sells what you want! Meaning everyone will tell you that their product is the best!
There will never be a scenario where you walk into Starbucks and the salesperson tells you that their coffee is not up to standard and invites you to go to Coffee Bean instead.
Simply put, no one will tell you that the property you are keen is actually NOT a good purchase
Allow me to share with you an example
You went to visit a particular showflat. At the entrance, the appointed agent brings you to see the model and explains the location, the project details and facilities. Next, you will then look at the different bedroom show suites types. Finally, the agent engages a conversation and try to understand your budget and the types that suits you.
And if you realise something, whatever that you hear is definitely about how GOOD the project is.
And this goes on the same when you visit other Show Flats as well till you finally shortlist one
But throughout this whole process of hunting for your investment property, don’t you find something is missing?
NO ONE shares with you that the project’s PSF is too high and it does not have a good potential upside
Property Price Too High?
NO ONE shares with you the history prices of surrounding projects and how it can affect your shortlisted project
Is Surrounding Projects Prices A Concern?
NO ONE shares with you whether it is advisable to buy a Mega project or a Smaller development
Should I Buy A Big Or Small Development?
NO ONE shares with you whether financially you can afford it
Can I Afford?
NO ONE just dares to give you their honest opinion
What you truly need is a SECOND OPINION. Someone that can say “NO” to what you might be thinking that is good for you
And why I feel that this is important?
Allow me to share one of my experience with a client
Recently, I met Gary and Kellie who were keen to purchase their first property and they visited many show flats just like other interested buyers. And there was this particular project that they were really keen to purchase. It was a 99 years lease hold property and they were keen with the 2 bedroom premium unit. The size is 700 sqft and the price was $1,250,000
But they had some concerns and we met for a discussion
What i shared surprised them. I pulled out a resale transaction of a neighbouring freehold project and the price for a 3 bedroom, 1324 sqft (much bigger in size) actually cost only $1,180,000. Which means if they bought the 2 bedroom project, there is a high chance of having limited capital upside. Because resale buyers in the future would rather purchase a freehold 3 bedroom condo at a cheaper price as compared to a 99 years leasehold 2 bedroom condo
And this analysis that i shared made them understand the importance of buying the right property investment and having a second opinion
And at the end, they heed my advise where i showed them that they could purchase the same bedroom type that they want , at a cheaper price and a better location
For both Gary and Kellie, this is just one of my experiences that i managed to shared with them my opinion as they were keen to hear from my perspective
As for you, you might want to explore to see which options best suits you before you make that final decision
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