How many talks / seminars have we heard the speaker talking about the property market recovery in 2017, 2018, 2019 or even 2020? I am very sure some of them have good credentials and some would be quoting statistics while some may be paid to speak. Haha. My personal view? There’s nothing wrong to listen and believe those you want to believe.
A better question an individual investor should think about is whether that particular property he is buying is worth buying or not. A real example. Buying a property for rental next to a very famous university. You happened to know the owner and he wanted to migrate and thus is selling the property cheaper than the market by 15 percent. When you buy this property, it’s called calculated risk because you have a buffer of 15 percent even in the event of a bad market PLUS your property is next to a famous university. The rental will always be continuous. Does it have to depend on when will the property market be up or down or whatever?
A Facebook reader was commenting about this article: Is the property market really ‘coming back?’ He said, all these predictions are merely, ‘dream on!’ My reply: “perhaps even 2019 or 2020 or beyond. 😛 I love predictions too. Haha..” Truth is, I do not really care that much about predictions. Not just those relating to timing but also those related to some awesome developments.
Seriously, when we go to some of these talks sponsored by developers, can we say the speaker is fully neutral? However, do we think that the speaker is accepting a small payment from the developer and tell all lies and then destroys his reputation forever? He wants to continue speaking for other developers too.. right? That’s why his views are still worth listening because it includes lots of knowledge we could learn.
Plus we could ask questions and pick his mind too. Once we have read a lot more, listened a lot more, then whatever is being predicted or being said would make more sense to us. Very good example, assuming recovery predicted in 2018 and we believe it, so do we do NOTHING now or must take quick actions now?
If we intend to start investing, we need to start dreaming of owning one. In our dream, it should include all those things we want to do with the property. It should also include how much we could really afford. It should also include some future proofing, for example some primary schools nearby if we have young kids. Today of course,it’s better if it’s within 15 minutes away from any MRT station right.
What it means here is that the dream needs to be a more thorough dream. It must not end with ‘Should I buy? or should I not buy? That’s not a dream even. It’s just a sporadic thought which is going nowhere! You know, one day when we start to hate our job, we should also start to dream about changing job. Where, when, what and even how. If we are merely stopping at, ‘I am so stressed from my job’ and in the end do nothing, well, nothing happens. Dream on, dream away or start dreaming? Happy deciding.
written on 22 July 2017
Next suggested article: Properties: The yesterday, today and in future