Are You Overpaying For Your Property? Here’s How You Can Determine the Right Buying Price
Property prices in Singapore are not exactly the cheapest, and the last thing you would want is for you to pay the price (pun intended) of over-paying for your purchase. Sure, you may finally get to own your dream property, but are the trade-offs worth it? How can you determine whether you are indeed paying a fair price for a property? We have put together five factors that you may look into to help you determine the right price for your property purchase.
Costly, yet often Overlooked Mistake in Property Investing: Not knowing your Target Audience
When it comes to property investing, most people would scrutinise their entry strategy closely – which is a good habit to have to ensure that the property checks all boxes of what they deem as “investment-grade”. However, few would give thought to their property’s future potential tenant and buyer pool. No matter how attractive of a deal you secured at the point of property purchase, rental income can only be earned if there are ready tenant pools for your property, and capital appreciation gains can only be captured if you are able to sell the property. Failing to identify your target audience could present you with obstacles to achieving that rental cash flow and resale gains that you have hoped to get out of your investment. How then can you identify your potential tenant and buyer pool?
How This Family of 7 Upgraded From HDB to Landed Property
Singapore is affectionately known as “Little Red Dot” by many, and that didn’t come without basis – we’re indeed small by land size and this has resulted in the scarcity & high prices of land here. Thus, we tend to believe that being able to upgrade to a landed home is a dream that is out of reach. Large families also usually forsake the idea of upgrading to private properties for the large spaces that characterised HDB EMs & EAs.
However, there are ways & means to satisfy both the need for space & the want for capital appreciation. For this family of 7 who were originally staying in a HDB EM, they eventually decided to go for an upgrade (to a landed property at that!). Let’s explore why they did so & how they did it.
