There are a few reasons why we should view more instead of just buying that first property we come across. Unless of course, we already have lots of experience and knows for sure what are we looking for in that potential property buy. Some of the usual reasons include ‘my wife likes it,’ or ‘my father-in-law likes it,’ or even all my friends are buying the same place. All are valid reasons by the way and I have used at least two when I bought my second property which was a condominium. However, beyond these typical reasons, we can also look at some slightly more objective reasons. Below would be a few of them. The more ticks that the new development can get, the better it would be, as long as it is still affordable to us.
Buy EASY to rent out areas (Find proven ones please). Most of the time, property sites would already provide all these information. Look at those which has good rental versus those which do not. Today, if we were to buy a unit and we only found out nobody likes to rent that area, it is definitely our mistake.
LRT / MRT stations within 10 minutes away. The nearer is of course better but as long as there is one nearby, that would already be a plus for that area. Find one where there’s the transit buses plying between your home and the station. Walk a bit lah. Buying a place right above or next to these stations are likely to incur high premiums. If it’s still acceptable, buy lah.
Nearby universities (especially private ones). This is usually for investment purpose. It’s by far easier to rent out to students if it’s nearby. These students do not usually like to live far away as they may only want to be just in time for their classes. Of course, if you have a son who’s 18 and in need of an university, this can be a good choice too.
Modern design (has things you want). There are reasons why secondary condos may not fetch a good price when compared to new launches. Usually the new launches look much better. The designs are definitely more contemporary. So, even when we buy a secondary property, a more modern outlook would be a plus point.
Malls please. ESTABLISHED regional malls are okay. I would prefer a mall above 1,000,000 sq ft though. This will be a plus no matter how people kept talking about online purchase. A cinema within the mall is compulsory because this is usually a crowd puller. My wife and kids love it too besides lots of food choices.
Private hospitals please. My wife gave birth in Parkcity Medical Centre. It’s not as famous as some other private hospitals but it’s modern, parking is easy and it’s just 8km away which is a huge plus point. Besides that, these private hospitals are usually built in places where the population around the hospital is already mature. In other words, they have done their research, your new place is safe.
Any areas having everything all these within 10 minutes away is definitely a good one. It does not have to be currently a hotspot yeah. Oh yeah, please make sure it’s near your loved ones too. My brother bought a unit on top of me and he bought a unit just 2 units away from my parent’s home too.(for retirement). Happy viewing yeah.
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written on 16 Aug 2017
Next suggested article: It’s always too far, too expensive and too soon for many (updated)