I am not sure if it’s just me but these days, I get no less than a few offers for property in my Facebook page every day. This, coupled with the SMSes meant that I have so many opportunities to get rich via property investment, if only I have enough ‘bullets.’ These attractive offers include ‘RM1,000 to book a unit,’ ‘Zero downpayment,’ ‘Most facilities in Klang Valley,’ ‘Earlybird rebate,’ ‘Free car park,’ ‘Undervalued,’ ‘Final few units only,’ ‘Huge cashback,’ and more. Unfortunately for me, I do not have unlimited funds. Lots of these properties would be within the KL / Selangor areas. Thus, I am missing out on all these offers? I am so….. sad. Haha. Anyway, I continue to share with some of my friends via WhatsApp.
First question would be, are all these really that great? To be honest, sometimes, these deals do exist because of the current market situation. As all of us know, during hotter times, even without much special deals the people would buy. Under today’s situation sometimes, the developer may have priced their launch at a higher price to maintain their usual margins and after a while, they have realised that it’s best to provide some discounts or special deals before even more new developments are launched. These days, the ‘attractive period’ for new launches are shorter.
As soon as people realised that your property has remained unsold for over 12 months, rest assured that the possibility of them buying is even lower. Information is available easily for them to check. Many projects still has remaining units even after the keys were handed over. For some, the developer’s leftover units meant the prices would only go nearly as high as what the developer is offering. Sad but real, today.
Second question which is the most important, should we still buy them? Honestly, if the deal is a really good one and fits what you wanted, why not? Just be cautious and not be taken away by all these ‘cashback offers.’ The more they offer you, the harder it was for them to sell today. The harder to sell may also mean much lower demand. When the project is completed, do not be surprised that the price can actually be lower than what you bought, before your cash back. Of course, we can always hope for better times when we get our keys. If that happens, then everything should be just fine.
Final question, have you chosen the best choice among the many? Do not look at just these offers. Check online at sites such as iproperty.com.my, property guru.com.my or even propsocial.my for even more information about the area that these properties are situated. Understand what are the typical prices. Would it be easy to rent in the future if it is not for own stay. Long time ago, these information were not available. Today, please take advantage to do some checks before signing your cheque. The advice remains, buy objectively and property investment should do fine over the long term. Anytime is a bad time to buy if you got yourself a bad deal. Happy scouting.
written on 5 Nov 2015
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