Home Buyer Wisdom

“If you wait until you have enough money to decorate and make your home your own, it will never happen. If you wait until you can afford to buy everything new, you are missing the point. It is the old, the new, the hand-me-down, the collected, the worn but loved things in your home that make it your own.” Stacy Risenmay.

There is a different between the house you live in with an investment property.

How is it different between the two, you might think? Aren't buying process the same? Many times, we hear home buyers say, "It's simple, I will look for something that I like (rather something that is perfect) before I would buy." Sounds common? Objectively, the considerations when purchasing your own home and an investment one is different, but it’s really hard to separate them out in your mind when you’re actually engaged in the process of the purchase.

Would you rather not own your own home? 

Remember an investment property is purely a business transaction. It’s all about numbers. If the numbers work, then it’s a good deal. If the numbers don’t work, then it’s not a good deal. Some homes are built as investment homes. Coincidentally, most of these homes are also located in prime areas with good amenities and near MRT station. A perfect honey for tenants. Unfortunately, the size of some of these homes can be smaller, with the intention to keep the investment value lower for a higher rental return. Would you as a home buyer for own use buy a home like that? Will there be any alternative home in the same vicinity that you might like?

Of course, depending on your lifestyle and needs, some of these investment homes may be suitable for you. However the hard question you must ask yourself, is that is this home really suitable for you? Did I buy the home because I have just came up with all sorts of justification why I should be buying this property because it's difficult to remove the "investment" emotions? Money saved from buying such home may be able to get you something more suitable, frankly. 
Tips for the Home Buyers:
  1. Avoid the investment emotions if possible.
  2. Know what is your priority.
  3. Plan ahead.
  4. Buy something that suits your lifestyle.
  5. It is better to own your own home.

Watch Video of a Dream Home in an Upmarket Area

  1. See your Dream Home Here

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Wisdom Sharing
Property Investors Questions:

I do not understand why did you say buying a home for own stay is different from one for investment? Of course for home owners we want our home to have capital appreciation as well.
Yes, this is a very good question. We believe many would not understand this as well. We didn't realize this until we heard a lot of home buyers complained not able to buy the home they desire. What? Can't buy the home they desire? Yes. Many are too confused and are focusing on too many things at a time. They want a perfect home and also want a home that will make them lot of money and are always hesitating. Nothing wrong with that but the market wait for no one. If you are looking to purchase your 1st property for own stay, this is something that you should avoid. Especially if you are renting a home now. Why? Simple. Singapore is small and land is scarce. The government controls the supply of land and this in turn affect the final selling price of a home in Singapore. We have not seen a significant drop in land price for the past 10 years. Together with inflation, and other rising costs, the price of a home is unlikely to drop significantly in the absence of a major economy crisis. It is almost impossible to time the market. Therefore, it is advisable to buy early rather than later. Anyway, a home should not be treated as an investment tool. It is a roof over your head. Therefore, if possible take away the investment emotions FIRST when buying a property for own stay. Get started first, then grow your wealth nest and we will pick it up from there. Fair?

What should I be looking out for when purchasing my own home?
Plan ahead. Look at the layout, environment, proximity to schools, convenience to travel to workplace, amenities or near parents home. If you need help talk to us.
I don't know what to buy. Should I be buying a condo, or HDB? I want to make money from this home.
Well, my advice is don't treat your home as an investment tool. Nothing beats having your own roof over your head. The lifestyle is different. If you can afford, a condo is a good choice. But the priority should be what you and your family needs first, not which type of property. There are things that cannot be measured by monetary terms.

I am contemplating to buy my first property. Should I buy now?
I assume this property is for own stay. Remember this is not an investment home. You are going to stay in it. Are you comfortable in buying a property now? If not why not? Have you found something that is really suitable for you? If you have found one, what is stopping you from buying? Remember one thing, a home is not a commodity. Every home even in the same district is different. The view in different property can be different. The neighborhood and the environment can be different. Your neighbors can be different. The facilities of the condo can be different, the number of carparks available can be different. The available space for living and space for communal area can be different and many more things can be different. Can you be sure to find something else that is suitable for you after you have given up on the one that might be your dream home? If you need assistance you are welcome to talk to us.  

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