5 property questions that you can’t ask

“Do I look fat to you?”

“Do I look older now?”

“Do you still love me?”

The person being thrown these questions will most likely refrain from saying what he really thinks. Because he knows that the person asking them wants reassurance rather than the truth.

Afterall, these are questions that we ladies know the answers better than anybody else. And if we ourselves don’t know, it is either we want to hear a different answer, or we simply choose not to know.

It also shows our lack of confidence and maturity which makes us look vulnerable. Indeed, we are opening ourselves for easy manipulation by others.

The same applies to properties.

I write in my earlier post that most people can’t think for themselves. “They look around for others, for people who seem to have the authority or the experience, to tell them what is really going on.”

Don’t get me wrong. It is absolutely fine to ask people who have rich experience for their advice or to consult people who have relevant expertise for a second opinion.

But there are questions that are simply awkward to ask, especially to ask people who come with vested interests.

Here are some obvious examples of property questions that you can’t ask.

1) What should I buy with $xxx budget?

This question is going to make the property agents love you, provided that your budget is big enough.

They will try their best to help you spend up to the last dollar of your budget in order to pocket the maximum commission. But they are only helping you to spend, not getting you the good deals, not even the properties that are suitable for you.

Next time, do your own research first. Get some ideas about what property types and projects are available in various price range.

When you are asked about your budget, just indicate a range. Unless you are prepared to pay any price for your target property, keep the bottom line to yourself so that you can negotiate the price with the seller.

2) Is it still a good time to buy?

All developers, property agents, industry analysts, owners who want to sell, people who just bought will all say ‘yes’. The government and propertysoul will say ‘no’.

You are in a better position than anyone to decide for yourself. Find out what happened during the past few property cycles. Revisit your objective of buying, your financials and your long-term plan to come up with your own answer.

3) Where is a good place to buy?

Marketing agents at the showflats of new launch will say you’ve come to the right place. Owners always say their condo is the best before they manage to sell it. Agents and analysts who specialize in commercial properties keep reminding you that their sector is very hot now. Companies selling overseas properties throw in free seminars to convince you that the pastures are greener elsewhere.

The truth is: professional investors never let slip of where they are buying now, not until they have made enough money out of it.

4) Are more cooling measures going to come?

As soon as the minister in charge is still in office, the answer will always be positive.

5) Is the market going to crash soon?

Yes, soon enough.