Why procrastinating about buying a property could be costing you!

You’ve probably been told that everything comes to you at the perfect time.

But often, waiting for that “perfectly ideal” moment can also result in missing some great opportunities – and never is this truer than when it comes to buying property.

There’s a saying: don’t wait to buy property – buy property and wait.

Why? Because at the end of the day, there’s no such thing as the ideal scenario and procrastination could be costing you in more ways than one.

So, while you may think that holding off will save you from entering the property market at the wrong time, chances are, you’re preventing yourself from gaining all the benefits too.

People procrastinate about buying a property for a variety of reasons.

The reality is – the Australian property market naturally goes through constant cycles, seasons and trends, all of which go up and down. This uncertainty can make first-time buyers and seasoned investors alike feel a little worried.

It also doesn’t help that the media, too, tends to focus on the bad news rather than the good– making more potential buyers confused, especially when they hear that fluctuations in the interest rate are “going to lead to a disaster” or the property bubble is “predicted to burst” soon.

Such worry and confusion can transform into a fear that affects people and holds them back from making a decision. This turns into inaction, with people waiting in constant anticipation for a time when things are better.

What you may not realise is that this can actually be a costly mistake.

There is no perfect timing when it comes to investing and no one can accurately predict it either. All that we can say with a level of certainty is that the property market tends to level out, meaning you should strike when you’re ready.

In the end, having a property today means it’s working for you now, as opposed to waiting for a property to come along sometime in the future.

Why you shouldn’t procrastinate in buying property

To reap a return from property investment, you need to buy property first. Simple as that! By continuously delaying your purchase, you also postpone yourself from building a property portfolio.

Additionally, when you procrastinate, you also can miss out the following:

  • Earning a passive income

Leasing your property can provide you with a stable secondary income which you can put towards your mortgage loan or use as an extra source of cash flow.

  • Tangible value

Unlike other kinds of investments, property is something that tends to hold value. As long as your home and/or land are there, you’re on the right track. The market may go up and down occasionally, but having a physical asset in your portfolio is a tangible investment.

  • Appreciation of properties

Based on my own experience, the best time to invest was 20 years ago (that’s when I started) – and the second-best time is today!

The property market had endured so many bubbles and fluctuations in the past, and the majority of people who held onto their assets have seen their property prices go back to normal. As history continuously proves, real estate values are a pretty secure investment.

  • Inflation proof

Property rental amounts rise with inflation, which in return, increases your cash flow. Additionally, there can be an influx of renters enter the market if mortgages become too costly as the interest rates move upward. Either way, both are a win-win situation for you, as a property holder.

  • Tax benefits

 There are a few tax benefits that you can access when you invest in property, such as deductions on mortgage interest, property taxes, insurance and depreciation.

What’s the point?

The point is: many people often look back over the years and say, “I wish I had of bought earlier, but I didn’t have the confidence, skills or network to support me.”

To become successful in property investing, you need to surround yourself with experts and professional real estate advisors who can provide you with the knowledge you need to overcome your fear of making “hasty” decisions. When you finally overcome this uncertainty, they will then guide and encourage you to take action and overcome procrastination.

For instance, here at Worth Property Investing, we don’t make you wait for that elusive “perfect timing” – we make the timing work perfectly for you instead.

How can Worth Property Investing help you buy an investment property?

At Worth Property Investing, we partner with you throughout your investment journey.

Led by Simon Read, we are passionate about building a strategically sound and highly diversified property portfolio which can help you fulfil your dreams.

As your trusted licensed property Buyer’s Agents, our experienced team guides and supports your property investing education, so you can achieve your property goals sooner.

Worth Property Investing can help you find the right property to meet all your requirements when considering your next purchase. We use real facts, due diligence and solid research to locate the right investments, and we have a proven track record to help you succeed.

Don’t put it off any longer – contact Worth Property Investing today and start achieving your property investing dreams!