The LAST of the LAST, buy quickly?

My auntie showed me a SMS message by a developer. In the message, the developer said that it was time to buy because the development is the final piece in that particular area. Actually I do not even agree that it is the last piece within that area. I told my aunty, the developer is just trying to sell. Nothing more. Actually this particular ‘last’ piece is also untrue. There is a very huge piece of land just minutes away from that ‘last piece of land. So, should you buy if it is really the last property project in that area? How about it being the last few units?

If you are buying for your own stay, just ask yourself if you like or not. If you like, just buy. If you don’t like, then don’t buy. There is little need to consider too much. If you like chances are, many others would like and there’s little problem for you to sell in the future. However, if I am buying for investment, all these ‘last’ statements would make me avoid it. Think objectively, if that area has NO other potential development and you are buying that very last project, do you think you are buying it at the lowest price or highest? If you are buying at the same price level as the current one, it meant you are buying the highest. If however, the developer tells you that the price you are paying is lower than the market price, it may be wise to ask around as to the actual reason.

I have also received many SMSes telling me that the said property development has just last few units and I better be quick. I would normally skip these. The reason is because if it is truly the last few units and I received the SMS from someone I do NOT know, frankly how many last units which are being marketed? Why are they sending messages to strangers? Today, it is also no longer like last time when online was not as accessible. If the property is indeed as attractive as what they advertised, it is really quite impossible not to have sold all the units within 6 months. Seriously, if a property has to be sold for over 1 year nowadays, I think the product is really not that good or the developer has to hire new marketing manager or appoint new agencies. Tell me, what would you think if you saw the project 1 year ago and today the developer is still telling you about early bird discount?

Thus, if I receive such SMSes about the last few units or even the last development in that whole area, I would skip. I think I have lost a very good opportunity but when I browse online, I would learn that there are still lots of other opportunities around including even new projects which are ‘about to launch and have early bird discount’ today. Haha. Happy buying.

written on 23 Mar 2015

next suggested article: Buy property now or buy later, which is riskier?

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