Top 3 Mistakes Families Make When Choosing New Projects

Are you about to buy a new property? Wait—don’t make these 3 rookie mistakes that could cost you thousands!

Here’s what many families get wrong when buying a new launch:

1. Falling for the Hype:
   The flashy marketing might grab your attention, but does the property meet your family’s needs? Use the QPE framework to separate the hype from the facts.

2. Overlooking Hidden Costs:
   Buying a home isn’t just about the price tag. Stamp duties, legal fees, and other expenses add up. Always know the real cost before you commit.

3. No Exit Strategy:
   This is the biggest mistake of all! Families focus on moving in but forget to plan their next step. Will the property appreciate? Can you rent it out easily? Thinking ahead makes all the difference.

Here’s how the QPE framework guides you through evaluating new projects:

1. Quality:
   Don’t stop at the surface. Assess:

   • Land size: Is it spacious or cramped?

   • Facilities: Pools, gyms, or green spaces—what’s included?

   • Layout: Is it functional for your family’s needs?

   • Location: Proximity to MRTs, amenities, and the view all matter!

2. Pricing:
   Entry-level pricing is key. Compare the price per square foot (PSF) to surrounding resale and other new launches to ensure you’re getting the best value.

3. Exit Strategy:
   Think about the future. Check:

   • Supply and demand in the area.

   • Upcoming transformations that boost value.

   • Nearby schools and the type of buyers or tenants this property will attract.

By balancing these three factors, you’ll make a decision that benefits both your present lifestyle and your long-term wealth.

Avoiding these mistakes ensures your family doesn’t just buy a property—you make a smart investment.