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Everyone wants to buy the right property of the right location at the right time at the right price.

However what happens in the real world is everyone makes mistakes, and property is not exception. What are the common mistakes in buying property?

Mistake #1 Buy a property and assme that it can be rented out or sold easily. Ensure the property is easily accessible and have potential upside value.

Mistake #2 Buy beyond your means. Get a IPA first and check your cash and CPF.

Mistake #3 Forgotten about the hidden cost. ABSD, SSD, property tax, agent fee, GST, lawyer fees. Most of these are payable only by cash. 

Mistake #4 Buy without checking what is provided and what isn't.

Mistake #5 Cannot decide to buy for stay or investment. The size might not be right in years to come.

Mistake #6 Getting too many different opinions from family, friends. End up CONFUSED.

Mistake #7  Taking too long time to make a decision. End up missing the property you truly love or buying at a premium.

Posted on: 06-11-2013
Posted in: GENERAL