Time is ticking and in a couple of hours, it will be balloting time.
Do I want to go ahead with it?
1 side of me wanted it, the other side i still have doubts regarding the property due to the limited knowledge and data I have.
in the end…
Did I buy it?
NO!
Looking back, there are multiple mistakes i have done that even the clients and families we consult with now are still making them as I did before.
1. Not entirely convinced by the property basing on just the feel of it.
2. Did not have an accurate representation of the entry and exit plans. I know how to buy, but in 1 day, what is going to happen when I sell?
3. Was shown the EC because I went to enquire on it, but could there be other options for me in my situation?
4. I self convince that the project is good because its more of a want than a need. And I was not basing on something to make my decision.
5. The hype around this EC lets you take notice of it.
6. Was not entirely clear about how much funds were actually needed and when will they be needed? Information provided was not complete.
And because of my inability to gain clarity in the above during that time, I end up not heading to the balloting day.
Did i regret not buying the property now?
YES! TOTALLY!
WHY?
Take alook here.
Do you feel painful if you are in my position?
Perhaps right?
Well, there is a taboo word in the real estate world we should not say
‘If i had known…..’
Because if I had know that this is going to be the outcome, will you think I would have went ahead in the balloting day?
Imagine if I had the necessary information, data and analysis before to make an informed decision, perhaps i would have pocket easily $200,000 now too. Sad..
It is also through my own personal experience like this that realized there are many home owners and families are basing on NOTHING to make decision on their real estate plan potentially is the biggest purchase in their lifetime.
Alongside hundreds of families we have consulted for the past years that pushes us to adopt a systematic approach in a property decision making too.
Imagine moving forward, you do not have hear say consideration factors but step by step approach in Reviewing you current property situation, Evaluate the various options your family can undertake and to Identify the right property that is personalized to your needs.
That is the reason why we created The REI Method to assist any family to gain clarity in their real estate journey as well as taking it as added education for the future. Taking our mistakes and transforming them into this method so we will not go thru the same concerns ever again.
If this story has relevance to you in your decision making before like me, i would love to hear your experiences so many others can also learn from it too.
I believe property can be done in a systematic and predictable approach with the right structure, method and combine with data, numbers and analysis, we be able to make a better informed decision.
I would love to hear your past experience too. It could help more others too :0
Cheers.
Edmund Tan
Your Singapore Real Estate Insider
The REI Method
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