Real estate and regrets, I’ve had a few

In the past couple of years I have seen a lot of people make real estate decisions that they later wished they hadn’t (or are yet to regret!).

Many people sold their property last year, thinking the market couldn’t get any better. If they planned to reinvest the money in Sydney real estate and they did so in a timely manner, I am sure they are still dining out on their success story. But if they underestimated how difficult it would be to buy back in and are still looking, then I imagine they are feeling very remorseful about selling in a rising market.

On the buying side we have seen people rushing into purchases, driven by a fear of missing or FOMO.  When they finally have time to reflect on whether they made a wise decision they may not feel so great about what they have just committed themselves to.

So what about the property/properties you haven’t bought because you felt it was all happening too fast? Will you regret not buying them?

In the past there have been a few times when I have not purchased properties I wished I had bought in hindsight.

But that regret is nothing compared to the regret I see some people experience when they rushed and bought the wrong thing!!!

 

First published: 3rd Sept, 2015

 

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Good Deeds buyers tips are intended to be of a general nature. Please contact us for advice that is specific to your individual circumstances. You may also need to get advice from other professionals such as an accountant, mortgage broker, financial planner or solicitor.

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