You need TIME for property investment (updated)

You cannot replace time, once you have lost it. The time spent to watch the korean dramas meant you have less time to talk to your parents. If you spent 4 hours in washing your car you lose the opportunity to read a business magazine. There are a lot of people who may never find property investment as attractive. The reason they gave was, time. In fact, they are right. Property investment needs lots of time.

Time:  You need time to view the property. Total time needed? Unimaginable when you first started. Typically, you would need to view no less than 10 properties before you decide. You need the time to think if the purchase is worth it. You need to have the time to meet up with the banker to get a loan. You need time to meet up with the lawyer for your sale and purchase. You may need time to restart all over if they property you liked was booked by another. Time which you may not have a lot, especially if you are working full time.

Time:  Again?? Yes. If you found out that you have profits when you sell, you may decide to sell. When you intend to sell, you need time to sign the documents to sell. If you are not engaging agents, you need to show your property many times to prospective buyers. If you engage one agent, you need to show the agent once, give the keys and if the agent is unable to sell, you need to engage the second agent. If you engage more than one agents but you do not want to give them the keys, preferring to open the door yourself, then you spend even more time!

Time:  Your requirement for time does not end when you sell. It has just started. In fact this would be the longest. Yes, when you need to sell the property for profits / money, the typical period that you will get your full payment is 4 months, or more if it is leasehold or incomplete documentation. So, you may not be able to know for sure, exact time that you would ever get the full payment when you sell your property. If you need money fast, selling property is not going to be a good option. Please take note.

As you can see from just a few examples above, in property investment, you also need to invest your time. Worth your time? Go and buy a few books on property investment, then you decide. Oh yes, you can still continue to spend your time happily even if you do not do property investment. Truth is, contentment is never about how much you have in your bank account. Just make sure you are protected though via insurance etc when you do not do investments.

Next suggested article:  Why technology is changing property buying behaviours

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2 thoughts on “You need TIME for property investment (updated)

  1. Hi Chia Lih, great blog you have here. May I ask a question around one of the points you raised in the article – does leasehold properties take longer to settle than freehold properties? Would you please explain the reasons for this?

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