Find the right opportunity and wait until you’re ready
Investing in property is exciting, but you might wonder when the right time to head into the market will be. The short answer is this — the right time for you is whenever you’re ready.
Timing plays a key role in buying an investment property — but not how you might expect. That’s because the property market has two aspects to consider.
Firstly, property prices fluctuate. Consider this when thinking about your strategy. Also, property may give you a steady and stable return and there might be tax benefits.
Secondly, property market conditions vary widely around the country. When some markets are up, others may be down. It’s important to do plenty of research to get to know the area you’re planning to invest in.
In a downturn, property values fall and it may take longer to sell. Auction clearance rates could also drop. But sellers might be prepared to negotiate. Which means it can be the right time to invest.
Property prices rise sharply in a boom. This is why it pays to keep an eye on trends. There may be times when there are more properties listed for sale than normal, which could give you an edge.
For instance, there may be more properties on the market when the weather’s warm. This could lift your chances of finding the right property. Keep in mind, an active market may increase property prices.
The property market, like all markets, moves in cycles. There’s no right or wrong time to invest. The trick is to research what is on offer and get the right guidance to figure out if you’re buying at the right time — that’s where an Aussie Broker can help you understand your options.