Location, location and location is the key to a property decision. Everyone knows this, I believe. However, the location, location, location in the right context is not about a certain place or neighbourhood. Maybe it is the location near to our working place, the location near to our children’s school and perhaps even the location which convenient for travelling, shopping and eating. Someone working in Putrajaya ought to buy Cyberjaya for example and no matter how awesome Mont Kiara is, it will not appeal to him. Someone who needs to put his children into a Chinese primary school would have to buy some place nearest to the school, so that his children has an advantage over others who stay further away. (distance plays an important part in the acceptance consideration in case you do not know. ) Lastly, location is also one where I may need to drive 30km lesser to go back to my beloved Ipoh hometown from KL versus if I stay in Puchong, for example. This tells us that every location has their own fans and decisions are based on the reasons for choosing that location and not on the location per se because they mean nothing than just a name.
Being Selective: Let us always be selective with the property that we buy. The reason is because demand for properties will always be selective as people are buying for all the different reasons. This is why there is no need to keep following because even in the stock market, your blue chip selection may be the choice of many while my personal ‘blue chip’ selection may just be ignored by many. (I do not buy companies with over 16 Price-Earnings Ratio (PER) no matter how big their brand is) There is no need to follow me. I am not that successful with stock investments. 🙂
History? An area which is NOT loved by many may still be LOVED by somebody simply because of history (he has stayed there all his life with his parents and he wants to buy a place near to them). There is one mature neighbourhood that my close friend loved to bits and my wife and I? We hate it to bits too. Haha… It may also be due to timing. When development reaches the area, the prices would usually go up. Once upon a time, Damansara Mutiara was definitely not a pearl (pun intended) but today, it is a bustling township with many amenities and huge population. Due to its population, it is covered by MRT lines too.
Comparison. It’s really possible to compare and it’s best to compare. List down five things that is a must have. Put them into Microsoft Excel or Even Google Sheets. My suggestions? Size (The bigger the better because they will build smaller in future), Price (Price per sq ft, the lower the better because in future, it’s impossible to build when price per sq ft is too low), connectivity (Both expressways and MRTs / LRTs (the more the better), distance to office (use google map DURATION as tie-breaker), Distance to other conveniences.
Oh yeah, to check out some condos? Here are some tips. I know many love primary properties because it is newer. Somehow, it’s more satisfying emotionally. If you need to inspect a secondary condo instead, here are some tips too. It is good to note that when we love a certain area, acceptances of other areas would be harder. That’s why prices for popular areas tend to rise faster before it is followed by nearby secondary areas. What this tells us is that as long as we are buying nearby some popular areas, as long as those areas increase in price, rest assured that ours would too. I define less than 10 minutes as nearby. Happy selecting as what you demand is definitely a selective choice.
written on 18 Dec 2017
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