#34 To Buy Now Or Later - What Is Time Preference?

Melvin Lim from PropertyLimBrothers delves into a fascinating economics theory, speaking about the concept of Time Preference and how it intercorrelates with not just economics, but real estate and decision-making in life. So in the essence When is the right time to make the transition from renting to owning a home? 

Defining low versus high time preference, find out how it plays a significant role in decision-making. We’ll also introduce 4 key factors you need to understand before making any significant decision, whether it’s about investments, personal finances, or life choices. A prelude to our upcoming few sessions, tune in to this episode to get a head start!

(00:00) Intro
(01:03) What is time preference?
(02:55) High / Low-Time Preference
(05:37) Example : High Time Preference
(08:13) Example : Low Time Preference
(09:12) Low time Preference VS High time Preference - Salesperson
(11:31) Time Preference as property buyer or investor
(14:58) Deciding Your Time Preference
(19:45) Oversea Property Investment
(21:16) Singapore Property Market - Demographic
(23:32) Wrap Up