Getting around the excuses of not buying a house
Our buyers agents hear heaps of reasons why people don’t get into the property market. Here are a few ways to get around the most common excuses.
‘Don’t kid yourself, ‘We’ll do it later’ never happens. Have the right frame of mind, you need to invest early. Talk to friends that have bought property for their tips. Hire a buyer’s agent to do all the hard work for you.
2. Can’t save enough money
Learn good spending habits in your personal day to day, you can save money quite simply. Remember, these are the important years of your life where you have a chance to either set yourself up financially or do nothing and then live to regret it later. It’s the things that you don’t buy that make the difference.
3. Believing Share trading can make more money than Real Estate
The best money making strategies never have the glitz and glamor and is usually the most boring. It involves buying good quality assets and repeating the process. It’s no get rich quick scheme! Fast money doesn’t work.
4. Short term thinking
It’s often said property doubles every seven to ten years. The young investor needs to have a long term focus, a 10 year minimum. Be patient and wait for time to do its thing.
5. Afraid of the risk
The average house price in Melbourne in 1980 was $39K fast forwards to 2014 and the average is around $570K. Young investors have time on their side so they can take a risk to leverage good market conditions. Have a plan B to minimise risk if your circumstances change.
Some more wise reading:
Five things I wish I knew when I bought my first home. Click here 29/Oct/ 2014
Is this the end of Melbourne’s Apartment Boom? Click here 22/Oct/2014
Why people pay more to live in school zones. Click Here 15/Oct/2014
Tips a buyers agent uses in finding investment property in Melbourne. Click here 8/Oct/2014
Reserve Bank of Australia, on the future of interest rates. Click here 7/Oct/2014