The STEADY Gameplan is a checklist that we use to determine if private property has a good chance of profiting.
Consistently allowing my clients and myself to profit from it, I have a strong belief in the S.T.E.A.D.Y Gameplan
Not all properties are the same.
We should work towards owning a property that can appreciate in value.
There are properties that depreciate in value or, take a much longer time to appreciate in value.
Therefore applying the S.T.E.A.D.Y gameplan will reduce unnecessary risk, and assist you in choosing a profitable purchase.
Since I joined the industry in 2016, I noticed there are similarities in properties that have a higher demand and thus result in higher profit.
Learning from my fellow seniors and colleagues as well, thus resulting in this 6-step S.T.E.A.D.Y Gameplan.
1) Size of the condo
Land Size and Condo Size
The size of the land and condo will affect the future selling price!
The trendline for smaller condos is usually stagnant, or with only minimal growth. This is due to the ways our banks conduct their valuations.
Banks base the valuation of a unit on comparing previous transactions. Smaller land size condos generally equate to fewer transactions. Therefore resulting in the condo being unable to fetch higher prices.
Moreover, smaller condos generally have higher maintenance fees.
On the other hand, for bigger developments with 200 units and up, we would generally see an upward trend as there are more transactions, particularly during the TOP stage.
- bigger development = more units put up for sale
- more transaction = more prices to support valuation
- more residents = lower maintenance fee
Small development, near mrt
Big Development away from MRT
What is considered a Transformation?
Many clients tell me that their area is filled with upcoming transformations that will boost the prices in their area.
However, is it true?
What is considered a transformation that can truly support your property prices exponentially?
By understanding the upcoming transformation in the area, we will be able to find potential condos that can allow you to get the 1st mover advantage!
Let's see how a true transformation changed our Marina Area.
This is the prices at The Sail at Marina, supported by the transformation in the area.
What is the Primary School Effect?
Singaporeans spend twice the global average on children’s local education: HSBC
This is a fact and property prices near top primary schools are constantly in high demand.
1) Parents would want to buy or rent within 1km or 2km to improve their chances during balloting.
As priority is given to Singapore Citizens and Permanent Residents who live closer to the preferred school when balloting:
- Singapore Citizens (SC) living within 1km of the school.
- SCs living between 1km and 2km of the school.
- SCs living outside 2km of the school.
- Permanent Residents (PR) living within 1km of the school.
- PRs living between 1km and 2km of the school.
- PRs living outside 2km of the school.
2) Rental and sales prices of these schools are supported by strong demands from these parents.
Let's take Methodist Girls School as an Example:
Within 1km of MGS, an average price increase of 69% from 2010.
Within 2km of MGS, an average price increase of 53% from 2010.
3) Did you know there are 9 GEP schools that have 2 spikes of demand?
The 1st demand comes during the primary 1 intake.
The 2nd demand comes after the primary 3 test from other schools, and parents would look to move near these GEP schools to reduce traveling time.
Why amenties are important for property prices?
Amenities are the basic necessities of our daily lives.
Be it, homeowners or tenants, we all look for the following amenities:
- Is it near an MRT or well connected by buses?
- Where is the nearest shopping center or eateries?
- Where is the nearest supermarket?
- Is there any playground, beach, or park for my children?
- Is there a community centre nearby?
Tenants and buyers are looking for a home, and these are real life additions that is essential and important.