November 25, 2013
We love this note from the editor of Australian Property Investor magazine, especially their final comments. Take a few moments and have a read...
Run your own race
Right now I know a woman who is actively searching for her first investment property, having set herself a deadline of the end of this year. She realises that if she doesn’t invest now, she may leave her run too late. Like the rest of us, she wants to enjoy a comfortable retirement and isn’t going to pin her hopes on a pension being available when she leaves the workforce.
Her finance has been approved and she’s ready to take action once she finds the right property.
Meanwhile, someone else I know has just sold an investment property. His circumstances have changed, making it the right time for him to liquidate his asset.
While their experiences are different, both have reported the market is on the move. For our buyer, open inspections are becoming a weekend routine and, according to her, “it’s starting to get crazy out there”. Our seller can relate. He had a contract on his property after just two and a half weeks of marketing and his buyer is someone who has missed out on other properties.
While some segments of the media have gotten carried away with talk of a housing ‘bubble’, there’s no denying that our capital cities – especially Sydney, Melbourne, Perth and to some degree Brisbane – are markets in recovery. But rather than follow the herd and be guided by the actions of others, you should run your own race when it comes to property.
Like our buyer and seller, assess where you’re at in life and what you want to achieve.
It’s not always smart to buy in a hot market, when prices are climbing at a rate of knots. But if you’re looking at property as a long-term investment – as you should – then having bought yesterday will almost always work out better than buying tomorrow.
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Check out the current Australian Property Investors magazine to read more about property investing. They have some interesting articles.