My Personal Experience When I Bought My First Property

Shawn Sum
  • What if i buy this property and the value drops?
  • What if no one buys my property should i decide to sell?
  • What if the economy turns bad after i buy a property?
  • What if i can’t service my mortgage?

Familiar? These are just the common questions that I hear majority of the times whenever i serve buyers looking for property. To tell you the truth, i too face these problems when we bought our first resale hdb 10 years ago. Back in my twenties, I wasn’t a property agent and on the day of the wedding proposal, we decided that our first priority was to buy a BTO flat from HDB, without wasting time, we went ahead with the application. To our disappointment, things wasn’t going well for us and after numerous failed attempts to secure a BTO flat, we decided to check out resale HDBs. Trust me, it was chaotic, we had almost 15 viewings and not one satisfied our requirements. Tired and on the verge of giving up, I took up the courage and told my fiancee. If the next one doesn’t fit. We shall delay our purchase for the time being. The look on her eyes made me felt bad but to our surprise, we loved the 16th unit so much that we agreed that this could be the one! Until the common questions came up in our minds…plus the naysayers popped up advising us not to buy ๐Ÿ˜. Saying the price is too high, location not good, fengshui not good..we were devastated.

In the end we decided to bite the bullet and proceed with the purchase. It was the toughest decision made and it literally took us 3 days to commit. We accessed our risks and planned our alternatives, even if anything goes out of way, there will be alternatives to fall back on. I still remembered when we submitted our deposit, my palms were still sweating. Still pondering whether it was the right choice. Fast forward 10 years later, we had 2 wonderful kids, carried out minor renovations twice over the years whenever we feel there’s a need for change, our area got upgraded with 3 shopping malls, a new MRT station and prices for our property increased gradually, amid the property measures implemented. Thinking back, our worries were for nothing. Poor fengshui, poor location, overvalued, economy poor, interest rates might go up, etc. We managed to “survive”all that. Ain’t that funny? This is life, sometimes we worry too much. Now that i’m a property agent, i tend to share my experience whenever I hear my clients disclose about their common problems. Their response were “Sure a not? You are the few lucky ones lah”. I shrugged and smile๐Ÿ˜

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