Today, I’m sharing one of the methods I use to help my clients find value-for-price properties.
I designed this method so that we can make better decisions by removing the emotional equation. By using my LAPD method, you can make the final decision based on a systematic and rational process.
So what is the LAPD method?
Simply put, these 4 factors are the most crucial in your house hunting: Location, Amenities, Price, and Design.
Location is important if you are making a decision based on your long term needs. Location is also based on the accessibility to your workplace – will you be driving or taking public transport?
Ideally, the location should be near an urban transformation as there is a high chance for capital appreciation in the future. Of course, if the area is located on multiple urban transformations, the chances will be much higher.
Urban transformations bring about lots of jobs around the area. Learn more about the various urban transformation through the URA website.
Amenities refers to the decision you make based on your mid-term needs. Depending on your needs, it could be living near a good school or near your parents.
“Price is what you pay, value is what you get.”
Every seller wants to sell at a high price and every buyer wants to buy at a low price. However, in every transaction, we have to find a win-win situation for all parties.
Understanding the recent transaction prices is one of the ways to get a fair value. To dive even deeper, understanding the intention of selling can position you on a higher bargaining scale.
Ideally, in my personal opinion, a squarish shaped unit is easy to move in and get the “right” furniture.
However, interior designers have become more creative and a unique shaped layout can also introduce ‘character’ to your home. So choose a home that fits your personality and comfort.
I am confident that by using the LAPD method, you can make a more informed choice. At the end of the day, it boils down to your affordability. Best wishes and happy house hunting!!