Posted to Adelaide Now (27/7/2011) on 27/7/2011 at 1:52 PM
Commenting on "Real estate slowdown forces 'massively reduced prices' at Newport Quays"
http://www.adelaidenow.com.au/property/news/real-estate-slowdown-forces-massively-rediced-prices-at-newport-quays/story-e6frefgc-1226102335738
Many people will go to great extent to shop for cheap gadget and yet do not spend enough time to check out details before spending hundreds of thousands of hard earned dollars in properties.
Several friends have asked me for opinion and advice after they have signed the purchase contracts. My standard response is "I cannot comment on what you have told me, and hope that you've made the right decision". A contract is a legal document, and trying to void one is beyond my scope. It is advisable to seek professional advice before commiting, and no point to do so after.
Land appreciates but building depreciates. Everyday, land gets more and more scarce, but building becomes older and older. Buying property with no or little land is spending money on buying "thin air". Unless money is a dirty word and you have plenty to give away to the property developer or real estate agent, DO NOT get yourself that volume of thin air! Make sure that land near waterfront is not newly reclaimed or experiencing movement.
PS. Sin Fong is a qualified licensed estate agent and real estate trainer. Feel free to read my blogs on SinFongChanRealEstate.blogspot.com
Posted to Adelaide Now (27/7/2011) on 27/7/2011 at 2:12 PM
@Goodness to the World, IT (or now known as ICC) industry ranks before real estate and used car. How many IT projects complete on time and on budget? How many IT professionals deliver what they promised? How much more on-going maintenance and upgrade costs are involved after the completion of a project?
Posted to Adelaide Now (27/7/2011) on 27/7/2011 at 3:43 PM
Thank for publishing my comment. Many readers have visited my blog site. I hope that my advice is valuable, and they will be more careful in making property investment decision in future. It is also important not to take RBA and ABS statistics as gospel. Many underlying trends are not explained and can be interpreted by many incorrectly. Just keep in mind that "No one should live beyond his/her means".
Commenting on "Real estate slowdown forces 'massively reduced prices' at Newport Quays"
http://www.adelaidenow.com.au/property/news/real-estate-slowdown-forces-massively-rediced-prices-at-newport-quays/story-e6frefgc-1226102335738
Many people will go to great extent to shop for cheap gadget and yet do not spend enough time to check out details before spending hundreds of thousands of hard earned dollars in properties.
Several friends have asked me for opinion and advice after they have signed the purchase contracts. My standard response is "I cannot comment on what you have told me, and hope that you've made the right decision". A contract is a legal document, and trying to void one is beyond my scope. It is advisable to seek professional advice before commiting, and no point to do so after.
Land appreciates but building depreciates. Everyday, land gets more and more scarce, but building becomes older and older. Buying property with no or little land is spending money on buying "thin air". Unless money is a dirty word and you have plenty to give away to the property developer or real estate agent, DO NOT get yourself that volume of thin air! Make sure that land near waterfront is not newly reclaimed or experiencing movement.
PS. Sin Fong is a qualified licensed estate agent and real estate trainer. Feel free to read my blogs on SinFongChanRealEstate.blogspot.com
Posted to Adelaide Now (27/7/2011) on 27/7/2011 at 2:12 PM
@Goodness to the World, IT (or now known as ICC) industry ranks before real estate and used car. How many IT projects complete on time and on budget? How many IT professionals deliver what they promised? How much more on-going maintenance and upgrade costs are involved after the completion of a project?
Posted to Adelaide Now (27/7/2011) on 27/7/2011 at 3:43 PM
Thank for publishing my comment. Many readers have visited my blog site. I hope that my advice is valuable, and they will be more careful in making property investment decision in future. It is also important not to take RBA and ABS statistics as gospel. Many underlying trends are not explained and can be interpreted by many incorrectly. Just keep in mind that "No one should live beyond his/her means".
