Thinking of buying an investment property in Brisbane (3/4 bdr house). Best advice as to suburb-and should I wait and see what’s happening to the market or go ahead and buy now?
Cheers,
DEManDaveMan
If it makes financial sense and the numbers stack up, go for it.
But I live by the adage “Don’t try and catch a falling knife”.
If you want negative equity in your property for a decade buy now! Better still, borrow 110% and get an interest-only loan. No-one needs to repay debt anymore, its a “new paradigm”
Don’t listen to the doom and gloom crew. They are talking down the market so they can get better prices.
There are bargains to be found in every kind of market. Just keep looking and you will find something that is suitable. Buy when you feel comfortable that you have bought something at a good price.
Robert Bou-Hamdan
Mortgage AdviserWe live in Brisbane, and feeling the same things about prices. We have now moved out of our comfort zone and am looking at regional Qld and other place. Have found a good deal recently. Just keep looking. Good deals are always out there to be made.
Cheers.
The market is never right for buying according to popular opinion. And if by chance apparent popular opinion is that it is the right time to buy, you had better not. [biggrin]
I think a better question is: if now is not the time to buy, when is?
Do your numbers and if they are solid then buy. If you come up with something better to do with your money then do it.
I have never had a time when someone has told me “now is the time to buy”. It’s always: “Oh the market is at it’s peak now, you should wait.” Or “The market is still going down now, you should wait.” But you know what? Those people never own any property (or other real investments for that matter) because they are always waiting.
A couple I know keep telling me I’m crazing for investing in this or that, but even though their income is much higher than mine, I’m the one with all the assets (no cash mind you[blush2]) and they are always waiting for the “right time”.
I have never had a time when someone has told me “now is the time to buy”.Funny, because I’ve never met a real estate agent who hasn’t told me “now is the time to buy”.
really?? wouldn’t be a very successful agent – there is no market if nobody sells
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Yeah salesmen always say buy. Not too surprising. I’ve also never taken, nor bothered asking the advice of a salesman in regards to what they are selling. That’s just common sense.
I used to work in a patissierie and would find it funny when people would point at a cake and ask if it is nice. I always wanted to respond with “oh, no sir/madam, we only stock unpleasant cakes made from cow dung.” Asking a salesman if their product is worth buying is not seeking advice so much as hearing what you want to hear.
So with that in mind I can say I’ve never heard anyone tell me “now is the time to buy”.
In hindsight (and isn’t hindsight wonderful) the time to buy real estate (pretty much anywhere in the world) was after the tech wreck in 2000. Central banks around the world were lowering interest rates rapidly and a lot of money was coming out of the stockmarket and looking for a “safe haven”.
really?? wouldn’t be a very successful agent – there is no market if nobody sellsAUSPROP, I’m not sure I understand your comment, however I defy you find a real estate agent who will tell you right now is not a good time to buy. Comments I’ve heard recently; “get in now, its a buyer’s market”, “buy now, because prices will bounce back in the spring” … I’ve never heard “hold off for 12 months, prices are falling and may fall further”
someone must be willing to sell in order for someone to buy. An agent wouldn’t get a listing by saying ‘the market is taking off, your house will be worth double in 12 months, but can I sell it for you anyway?’
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
When I was a younger man in my 20’s my father said something that I have never forgotten and always found to be true. He said “son there is no such thing as the last best buy.” . I have found that there has never been a time when there has not been a property I wanted to buy. There are always good buys and bargains to be had. Today you have to look harder and perhaps look at the market in a different way. When the numbers work the deal generally works.
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