Before I tell you about this low density with nice facilities property which I think is a good buy, let me share 4 important tips about the property market and the properties we could buy.
1. Low density with nice facilities – Scarcity
#1 Scarcity in property market – If someone tells me that there is a new launch of a 1,000 sq ft high-rise with attractive facilities (not just the normal looking ones) and is inside Georgetown and is priced below RM400,000 today, I will drop everything I do and go to buy a unit.
I already know, if I could get one unit at RM400,000 once I get the keys I could definitely sell it higher.
2. Low density with nice facilities – Premium
#2 Premium in property market – Everything we buy today, some products have that premium because of perception. In the property market, we could see this clearly.
Two similar projects next to one another, one is from a leading developer, another from a small developer, if both are priced the SAME, which one would you buy?
This is why perception is very important when we buy and especially true for property too.
3. Low density with nice facilities – Connectivity
#3 Connectivity and Amenities – How many of us like to buy a home where if we like to have dinner, we need to drive half an hour.
If we like to go to the nearest supermarket, we need another half an hour and more than half an hour just to do window shopping in IKEA?
It’s also very important to note that distance may be near but duration depends on jam…
4. Low density with nice facilities – Wait
#4 WAIT until we have enough money for a DREAM home – My good friend, Charles Tan of kopiandproperty.com tells me that there is no such thing as a dream home because we will keep moving up and will earn more money in the future.
When we have more money in future, the dream home will change again and again.
Aim at getting a home which meets most of our expectations, stay for a few years and upgrade later.
Waiting until we have enough money for a dream home means waiting forever.
REALLY got such property in Penang?
In the mean time, please take care and remember that property price will always rise faster than the salary increment on a longer term basis.
Cheston Choo at your service.