One of the most commonly asked questions amongst property investors or second home buyers is “when is the best time to invest in property?” There unfortunately is no correct answer and no one ever really knows for sure.
Some people will wait until the market is perceived to hit its low point and attempt to buy a property, however it may not be the one they wanted. Other people will wait for a low in the market and hold out for it to fall that bit more in hopes to save a small amount. However, when this happens, by the time they have reacted to the decrease they soon see that the market is going back up and they have missed their opportunity.
Timing is just a small amount of knowledge of knowing when to buy. In fact, here at Property Pursuit we believe the more knowledge you have about the property you want and the way the property market work, the better prepared you will be to successfully and wisely invest.
It’s perfectly normal to be cautious when investing in something as monumental as an investment or secondary home. Be careful and assess your current situation and ability financially and mentally to invest. However, keep in mind the old saying ‘with risk comes reward’.
Jumping in head first to the first property you see may not be the best for you, but remember don’t wait for the opportunity to pass you by. There are always risks involved with any sort of investment but with the right amount of research, expert advice, financial planning and stability you can minimise risk when it comes to your future investment property.
If you are a short term investor and keen to see the colour of money you will have to put in the hours and go above and beyond to do your research and get it right. If you are a longer term investor then research is good, but naturally finding the right property may take some time so patience and expert advice may be best for you.
For more information on whether this is the right time to invest in a property and assistance with getting the best property for you, contact Property Pursuit on (07) 3177 3399.