Is price or location more important when buying a property? Gaynor shares his personal experience of his first property purchase and his investment journey.
Find out what property investment tips Gaynor has to offer now.
Follow Gaynor on Soho now.
Here’s the transcript of the video:
As to the next question, you are saying that this year there are quite a lot of new launches so many launches then where to invest and I think coming back, one very critical important thing that I think is important is the price. Location is also important but price is extremely important. I've seen places with fantastic location, but the price is very expensive. So people who don't really know they just look at, the location is good, they always say sure make money. Right? I think that's very common, but they unknowingly they buy at a very high price right? I've seen places whereby honestly speaking the location is really not good right but they are cheap right when they are cheap, the prices are very low honestly speaking, you have a good growth as well. Can you share with us like for example which project. I mean previously there are, I mean honestly speaking like last time, maybe I just share with you, I stay in Buangkok, you know Buangkok MRT last time when I first bought my HDB flat hundred sixty thousand, 4 room flat hundred sixty thousand and I remember those were the days whereby the location is not, I don't know, they will just say there is a MRT but they call it white elephant, they don’t use the MRT. They don't open the MRT right, during those days the travel for me is to work right, I work in Tuas, I work in Jurong, for me to go from Buangkok which is Sengkang you know that area, go all the way there it's really difficult right, but I bought my HDB flat for a hundred and sixty thousand, so the price is cheap, right? So that's an example. So but at the end of the day, I sold my HDB flat for four hundred plus, made around two hundred plus thousand, I use the money to invest in a private property. My family went, move on to another place and looking to buy another second property, you know stuff like that. So that's why I say the first property purchase is extremely important. So balance of price and location is important. At the end of the day one thing I always sit down with my clients before we make the investment purchase, is that we really look at if is the price right, is the price something that is reasonable, right? So if the price is reasonable then I think then we should really seriously look at it and we can invest.
Check out Soho’s Property Chat Collection for more.
