Beware of Showflats!
- Market is Moving -
Recently met a client who contacted me on Day 1 regarding an investment property, and we were supposed to meet for the first time on Day 3 over kopi.
So Day 3 came and we met.
"TT, to be honest, we were free yesterday (Day 2) and went to XXX showflat just to see see look look.
But we ended up booking a unit."
Wow that escalated quickly.
So I was curious why she'd still come out to meet me even after purchasing.
"Because I feel that purchase was a mistake and wanted to seek your opinion on it."
She told me the unit they purchased and the price they committed to.
I don't believe in telling people whether it's a good or bad purchase just based on "feeling" and "sales perspective"
So we went ahead digging into numbers on the spot.
Barely moments later, she realized it was a really risky decision from an investment perspective.
And she was convinced that she should forfeit the unit.
I wouldn't believe in telling her whether she should do it,
but it seems she was troubled enough looking at solid data to know that it would have been a wiser choice.
Problem is...just an overnight mistake like that would cost them tens of thousands of dollars.
All because people happily march into showflats claiming that they see see only.
But they bring along a CHEQUE.
Why am I recounting this story?
The property market is moving, without a doubt.
But that doesn't mean you should FOMO and just rush into a showflat without first consulting the right person.
*Showflats are DANGEROUS places*
We should only go to certain showflats only after our trusted advisers convince why we should give that particular development a shot.
After all, we are talking about an ULTRA-HIGH ticket item worth a million or more.
So many times, I've heard of clients saying:
"If this investment doesn't work out, I'll just stay on my own lah. Enjoy life."
Then proceed to claim...
"Wah condo so expensive nowadays, I need to scrimp and save after buying this unit"
Well, all these could have been avoided if we stayed logical and do our homework before committing to a big purchase.
Unfortunately, once we lose touch with our initial objective, it becomes too easy to succumb to EMOTIONAL decisions.
You see...Showflats are designed to lure us to commit emotionally.
But we need to understand, most of the time, we are given a bare unit with white walls when we finally get our long-awaited keys.
So...Focus on the bigger picture!
Long story short...
Do not bring a cheque along if you are going to the showflat to meet an agent you are meeting for the very first time.
If their true interest is for your well-being,
then they shouldn't be trying to sell you something on the very first time you meet.
It is easy to succumb to emotional buys at the showflats.
So make sure your trusted consultant is one that holds you back from irrational decision.
Especially if your objective is to invest your money and grow your funds for an earlier retirement.
If you feel you would need some help analyzing the market or the potential of specific developments,
do drop me a text at 91499929, or click the link https://chatwith.io/s/ttlum1 to find out more.