We like to challenge traditional thinking when it comes to buying property. Here are some things to consider when buying a property.
Here are two common ways that property buyers think:
1. When buying an investment you should make decisions based on “the numbers” and not emotions.
2. When buying your own home capital growth is not that important because you intend to live in it for a long time.
However both of these beliefs are seriously flawed because buying real estate without focusing on capital growth is like running a marathon and stopping just before the finish line. You have put in all the hard yards without getting the reward at the end. I mean, why would you bother? These are things to consider when buying a property.
Contrary to popular “wisdom”, the real estate paradox is that when buying an investment property you need to think like an owner occupier and when buying your own home you need to think like an investor.
DISCLAIMER: 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.