Of Course Properties Make Good Investments

= $ =p> this question is got by me. To be kind, I’d smile and nod approvingly. But deep in my heart, I know that as the answer is correct, it isn’t complete. Of course properties make good investments. But then, the same thing can be said about stocks, unit trusts, silver, and several others as well.

While all of them are good investments does not mean anyone can make money from them. Buying the first house the thing is or the stock that will take your fancy is a sure formula for catastrophe and a guaranteed formula for dropping your dollars. Further, the homely house is the most expensive purchase the majority of us will make in our lifetime.

And it also forms our highest debt and lasts for the longest time – often lasting 20 years or longer. That being the entire case, doesn’t it seem sensible for all of us to execute a little bit (or better, a lot) of homework before parting with this money? Doesn’t it seem sensible to tread very carefully before buying a property?

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Obviously, the answer ‘yes’ is. As an example of careful trading, a colleague of mine viewed the plot that he wished to buy three times: once in the morning, once in the afternoon and once during the night – all on different days. Mind you, it was only a parcel at that right time as the home had not been up yet.

Now many people may think that may be overkill, but his answer was spot on: “Before paying RM810,000 for anything, I wish to be sure that everything is right and to be able first.” I agree. And oh yes, he sold the home when it was completed 2 yrs later for RM1.1 million.

Even taking into account that he had to pay RPGT (that were still relevant then), real property agent’s payment, legal fees, and all, he pocketed a tidy sum of money still. I’d say the three trips was certainly worth the RM200,000 plus – don’t you agree? But I’ve seen people buying homes on the spur of as soon as. I have seen folks rushing to buy properties as if these were buying groceries. For their sake, I sure wish that the homework has been done by them beforehand though my center informs me something else. Investing in a property is simple. All you need is a little bit of money and signal some documents.