As a Buyers Agent, I get asked this question daily.
Investing in the property market is one of the biggest decisions you’ll make. It involves a lot of money, time and effort – so, it’s not surprising that I’ve been asked countless times about market ups and downs, and when the best time is to enter the world of real estate.
However, the uncertainties of last year have made a lot of people hesitant about real estate. Not wanting to take a risk, potential investors are waiting for the infamous “perfect opportunity” to find their dream property at the lowest possible price.
So, should you also do the same and delay your plans to purchase? Or is it better to act now?
Here’s my advice for you!
My advice? Buy now. Don’t wait.
I’ve seen so many people delay their property investment because they want to save a bit of extra cash. They often tell themselves, “I’ll just save another $5K or $10K, and then I’m good to go.”
Well, newsflash – the property market is constantly moving forward and, chances are, you will fall further behind if you keep sitting tight.
If you already have enough savings, from my years of experience buying Australian real estate, it’s best to jump into the property market sooner rather than later. Especially now, with low interest rates and more flexible mortgage repayments, the risk of missing out and not getting onto the property ladder is bigger than the chance of prices dropping.
With low interest rates and more flexible mortgage repayments, the risk of missing out and not getting onto the property ladder is bigger than the risk of prices dropping.
There are also investors who are scared to dive into real estate because they have been exposed to scare campaigns online or by the media. However, most of the information those sources spout are sensationalism – because it gets eyeballs.
Just remember that even though the property market goes through various cycles and trends, overall, it still levels out and goes well in the long run.
With a never-ending demand for housing, real estate is one of the most resilient industries in the Australian economy. The value of property tends to be far more stable and less volatile than stocks or other kinds of intangible investments.
Keep in mind – there are always opportunities in the property market during both low and high times. History can attest to this. You just need to see and take advantage of them.
So instead of waiting, focus on buying property in the right location and learn to hold onto it for a property cycle or two to reap high returns.
My tips to help you enter the property market:
- Do thorough research as prices of properties vary from location to location. For instance, there are some places that have been hit hard by the pandemic, so the demand and price of housing will be comparably lower there.
- Choosing the right type of property for investment makes a big difference. Aside from the price and location, it’s also important to examine overall quality and the developer’s reputation.
- Try to focus on making a rational purchase as emotions can often encourage you to over-pay or relentlessly pursue one opportunity and miss several others in the meantime.
- Do not easily be swayed by short-term events or temporary dips in the market. The key to successful property investing is to hold on for the long term. As historical data shows, real estate values increase over time.
Stay updated! Keep in touch with your trusted buyers agent and rely on their knowledge and expertise to help you be guided as you embark on property investing.
Have you considered a Buyer’s Agent?
Real estate is a very competitive space, and it can become frustrating, not to mention time-consuming to hunt for your right property week after week.
A Buyer’s Agent can take away all the stress, while helping you make better, well-informed decisions.
My team at Worth Property Investing are passionate about helping you make the right purchase, in the right location, at the right time and for the right price.
Start by taking the Investor Readiness Quiz now.
By answering 35 quick questions, we’ll provide you with a free report to help you be more confident about your investment decisions.
No worries! This is free of charge and takes less than 3 minutes to accomplish. You’ll also get a free copy of our property investment eBook as a bonus!
As your trusted, licensed Buyer’s Agents, we are always at your service to help you achieve your property goals.
Don’t put it off any longer – contact Worth Property Investing today!