Discounts abound, as do stamp duty refunds, free legal fees, cash backs and rental guarantees
These are terms that are being used heavily now in the effort to push and sell out properties that haven’t been selling as well in the last few months. Let’s face it, developers and sellers are now a little bit more anxious and are looking to off load their unsold units during the slow-down in market demand.
These are terms that are being used heavily now in the effort to push and sell out properties that haven’t been selling as well in the last few months. Let’s face it, developers and sellers are now a little bit more anxious and are looking to off load their unsold units during the slow-down in market demand.
In any market, there is a buyers’ market and a sellers’ market. We have now edged into the buyers’ market and it is blatantly obvious with the number of apartments, townhouses and house and land package deals going around. In my years of experience, I have not seen so many great deals that are popping up around where developers and sellers are ready, more motivated and willing to do a deal.
The key here is to be looking at the factors that are most important to you and not compromise on your long-term strategy when investing in properties just because of a discount. Investing in properties is a way to generate wealth and ultimately, it is a savings plan and a long term investment for your retirement, so you could do more of what you love and spend time with people that you love doing the things that you love. It pays therefore to buy well and be smart about what you buy into.
“I also found that investing in smaller, more boutique properties or smaller unit blocks, townhouses or house-and-land packages have less risk of a low valuation in the future”
Over the weekend, I had an accident on the snow and ruptured my Anterior Cruciate Ligament (ACL), Medial Collateral Ligament (MCL) and will need surgery to be able to do sports again! What I would give to be fully healed again. Sometimes, wealth is measured by health and time. Since this accident, I am able to spend more time with my family and appreciate my health a whole lot more and no amount of wealth can replace that.
So compromising on your ultimate goals just because of a “deal” out there may not be the best idea. Of course getting both would be ideal! The most important thing now is to consider what is critical to building your investment portfolio.
I do believe that buying in a great location with ample evidence of infrastructure investment (including public transport), close proximity to schools, universities, parks and playgrounds, shopping centres, lifestyle shops and cafes are places that will hold its valued in any market due to the demand in tenancy.
I also found that investing in smaller, more boutique properties or smaller unit blocks, townhouses or house and land packages have less risk of a low valuation in the future. You are also not quite competing in a market where there could be hundreds of units that come up for rent during settlement for new properties and experience a fluctuation in values of the property just because there may be a more desperate sellers in amongst the plentiful of owners.
There is no doubt that this can be a great time to snap up a great deal or discount in an investment property, but it definitely pays to consider all aspects of the property and the deal before jumping into something emotionally just because there is a perceived deal. Make sure you invest with your head and heart.
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