Expensive does not mean good investment

There is a mistake I watch buyers make over and over: a property is expensive, therefore it must be a good investment, therefore its price will keep climbing. Each step in that sentence feels reasonable. Together they are how people overpay.

A property's investment value is not set by its price tag. It is set by the future capacity of its location, the durability of demand for that type of home, the quality of the construction, and the developer's record of actually delivering. An expensive unit can score badly on all four. A modest unit can score well on all of them.

A better test than the price

Ask of any unit: who buys or rents this from me in five years, and why? If the honest answer depends on the market staying hot, you are not investing — you are betting. If the answer survives a cold market — because the location works, the home fits how people here actually live, and the builder delivers — the price becomes a negotiation, not a verdict.

Some of the best purchases I have watched were unglamorous units bought for what they could do. Some of the worst were beautiful ones bought for what they cost.