The hard truth is, although there are people who Make A Lot Of Money in the property market, there are also people who Lose Money in it.
This happens when proper analysis and research are not done correctly beforehand.
The right property is gonna cost you but the wrong property will keep costing you.
One of the 7 Critical Mistakes that all homeowners should avoid is believing Location still matters the most.
Traditionally, we used to emphasize the importance of LOCATION, LOCATION & LOCATION. But is that really the most important factor?
Like any industry, the Real Estate Market has transformed over time. What our parents' generation experienced in property purchase, might not be entirely Relevant in today's market.
In the past, it was much easier to make money from nearly any property you invest in, as there were no Tight Cooling Measures like in today's market. Thus, a lot of Speculation was involved.
Today it's almost impossible to speculate as a 2nd timer is required to pay 12% Additional Buyer Stamp Duty.
So are we still able to make Money in the Property Market?
Let us consider this comparison:
Compass Heights vs High Park Residences
Which is a better location?
Most buyers in 2015 will choose to purchase Compass Heights as it is situated just above the MRT, and on a low PSF of about 850 PSF compared to High Park Residences at about 1000 PSF.
Despite the 'obviously' better location, Compass Heights Underperformed compared to High Park Residences. Why?
Lets analyze some transactions below.
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