Some of the best advice I ever got was from my dad. When I was a little kid, I came across a TV commercial selling some “sure-fire” system to make money. Trying to save up for new Atari games, I was really into the idea of growing my money. So I asked my dad about it. My dad said that if anyone developed a guaranteed way to make money, they would have no interest in sharing it. In fact, they’d tell no one and do everything in their power to make as much cash as possible, and screw everyone else.
With this advice, it makes it easy for me to decide that I will never consider purchasing any condo at Solaris at Meadows Gate in Pitt Meadows. Nothing says lock the money in the bank like “projected 10% – 20% property appreciation” plastered right across the ad.
The marketers ought to be ashamed of themselves. And the buyers too, if they fall for this pap.
If property values are expected to increase, why would the developer have any interest in selling to you? Why wouldn’t the developer hold out and wait to maximize on the higher prices to come?
Wait, what’s that sound? Do you hear it? That grinding noise. It’s faint but it’s there, isn’t it? Yeah, that’s the sound of risk. If you don’t hear it now, you soon will. And when the real estate “hot spot” of Metro Vancouver goes into meltdown, you’ll wonder why so many were so deaf.