Real Estate Myths Exposed
Every day, we hear a lot of amazing theories and strategies in relation to the real estate market. Some of them blow our minds – because they’re so far from the truth – it’s not funny. One constant we notice is that a lot of people have a keen interest in real estate – unfortunately, with minimal experience, they believe they are experts. We’ve combined our experience, with the knowledge of Real Estate Expert, “Greville Pabst” and shed some light on leading real estate myths.
Now is the best/worst time to buy real estate. Depends. Generally, there is no best and worst time across the board. Each property purchase depends on the individual. This means YOU determine the best/worse time to purchase property. The best time to invest is when you are ready – financially, and personally. Once you are ready, there WILL BE property out there that WILL suit your needs.
The housing bubble is real:Not really.Every time there is some growth, we hear the doomsdayers announce that the sky will fall in and property prices will tumble and be rendered worthless. This usually occurs when property values rise rapidly and reach a point that is unsustainable. After periods of price growth, we often see a “correction” of prices where they hold or reduce slightly – but not to the degree of prices being worth half, a quarter of their “pre-bubble” price. As a long term investment strategy, property, provides a return. Yes, there are sometimes sharp “up’s and downs” with prices, but look at the overall trend line is up.
All property performs: : Untrue. If diving head first into property or you make ill-informed decisions, you risk being left with under-performing property. Your property investment should be a well-researched process that includes analysing performances on a range of factors including rental yield, vacancy rates, infrastructure proposals etc.
I need to be earning more to invest in property. No. Many investors are every day, middle class folk. There are many ways to unlock equity – from self managed super, to the family home or from good old fashion savings. Your financial advisor is the best to speak to – they’ll give you professional, research strategies to help you.
Location is king: Yes, and no. A suburb may perform well, but not every property within a designated “performing suburb” will perform to its best. Even houses in the same development will perform differently. Which one will perform best? Without having a crystal ball handy, the only way to arrive at an educated answer is to yes, you know what we’re about to say] research! That’s why before purchasing property, we always check areas’ growth, vacancies and arrange of other factors including employment. Also, when it comes to developments, builders love Property Friends. Because we buy so many of their houses, they give us first pick of their new developments. This means we get the best blocks which helps increase price growth. how can this help your property investment –
Property Friends is a specialist Property Investment Advocacy that has been operating for the last 13 years on the basis of 3 principles: Trust, Community & Progress.
www.propertyfriends.com.au Tel. 03 – 9758 5331
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