Many people spend more than $500,000 to buy a HDB flat or more than $1 million to buy a condominium. That is a lot of money. They make their decision based on information provided by the property agent selling the property who earns a big commission (could be more than $10,000) when they close the sale. Surely, the property agent has a conflict of interest and may not give the best advice to the buyer?
There is an independent and reliable source of information that will help you to make the best decision and it cost you only $60. It is available on this website, http://www.streetsine.com/static/home2/map.jsp#homeReport . And there is a limited period promotion of $39 only.
I use this service a few times to get a report on the latest trend in market price and rental rates. I find the report to be useful to decide on how much to rent my apartments on the expiry of the lease. When the market moves quickly (either up or down), it is important to keep track of the latest updates, and not rely on a property agent that may have a conflict of interest.
There is an independent and reliable source of information that will help you to make the best decision and it cost you only $60. It is available on this website, http://www.streetsine.com/static/home2/map.jsp#homeReport . And there is a limited period promotion of $39 only.
I use this service a few times to get a report on the latest trend in market price and rental rates. I find the report to be useful to decide on how much to rent my apartments on the expiry of the lease. When the market moves quickly (either up or down), it is important to keep track of the latest updates, and not rely on a property agent that may have a conflict of interest.
5 comments:
I have seem many people make big commitment to buy a property without proper research. They jump in on the urging of the property agent to buy now, or see the price goes up.
What the property agent does not tell them is that the property price can come down, and they may not be able to pay their mortgage when they lose their job.
So far, property prices have gone up in Singapore during the past decades, except for short periods of correction - but it has not gone into a sustained depression - such as seen in Japan, Europe and America.
When it comes to Singapore and China, as it must come one day, it can be b**** and h*****
Even during our period of property correction, I have seen properties being sold at half of their previous prices by hard pressed owners. If you are caught, be ready to take a 50% loss on your investment. This is seldom reported by property agents - so you may not hear about them. Yes, you can lose 50% of your investment!
On the other hand, if you are not fully commitment (by buying a property at inflated price), you can jump in to buy a property at 50% of its previous value.
Be wise. Buy a property report and make a prudent decision.
Dear Mr Tan
I wonder if there is such a service in Singapore?
A professional would inspect the property and write up a report for the prospective buyer.
Listing down faults e.g. like leaking pipes, a smaller than advertised floor area, any other defects.
Such a service would be good for home buyers.
And tenants and landlords to avoid disputes later on.
Soodo,
I found this ad in Google. It is a service provided in Singapore. But there is no information about charges and fees.
http://www.inspectfirst.com.sg/
Thanks for reminding us Mr Tan.
I have been to a number of showflats such as the big development at Leedon road and there were many unsold units. Despite the many cooling measures, the prices keep rising making many people, including myself, anxious.
wondering when prices will be affordable again.
What is affordable?
That depends on your own calculations and ability to sustain the mortage payments. ( no worries if you have $10 million in the bank!)
Be wary about sales people telling you that the price has gone up or quoting a higher price. These are just some marketing & sales techniques.
Some points to note:
Is the quoted price based on the same sized unit or the same unit?
What has changed?
Buying a home is the highest expense anyone will ever experience in their lifetime. Choose wisely.
Its not the same as queueing up to buy an iPad or buying chocolates.
The worst thing is being pressured.. either by sales, or herd instinct or self inflicted circumstance.
Be the one in control.
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