RED Portal (18) - Do your research

My friend bought a cluster house at an attractive price recently. The market price has since moved up.

She was able to get the good price due to the time that was spent in carrying out research. She looked at the comparable price for landed property in the target vicinity. When the opportunity comes, she and her husband was able to make a decision quite quickly.

Apart from getting a good price, the cluster house is suitable for their needs, considering the workplace of the spouses, future schools for their children, and their lifestyle needs.

For people who are spending more than $1 million for a private house or condominium, it is important to carry out the research early and study the market for a few months.

Do not act when a property agent bring an offer to you and tell you that it is a good offer. The agent probably tells the same story to many other potential buyers, who have rejected the offer.

To carry out your research, you can study the property websites in Singapore. Look for actual transactions, rather than the properties that are listed for sale (as they are likely to be inflated).

I have created the RED Portal to offer this information to potential buyers. It is also useful for sellers to get to know the market, so that they do not underprice their property. Please tell your friend about the RED Portal.

Tan Kin Lian