There is a saying, “don’t wait to buy property, buy a property and wait”
People often ask me, is now a good time to buy property, or should I wait? What if property prices fall?
None of us has a crystal ball, and of course, property prices can and do fall. When property prices fall, it is not a problem in itself unless you need to sell.
If you don’t need to sell, over the long-term, property prices have historically risen.
If you wait for a short-term dip in the market to buy, you speculate on property prices and you can win or lose. No one knows when the top of the market will be or the bottom of the market.
Property investing takes a longer term view.
It is important to follow the 4 basic rules, and buy property with:
Good cash flow – stress test your assumptions – interest rates and rental value
In an area with strong rental demand
You should be investing for the long term
Always have a cash buffer
I often advise if the property meets your criteria you should consider buying it.
