Speed vs Caution when investing in property – how fast to buy?
We always recommend investors to take their time when investing in property and to do as much diligence as possible.
Getting a property investment wrong can be a very painful and expense mistake that can last a number of years.
However, there is also the risk of taking too long to make a decision.
If you leave your money in the bank you will get only a small return on it much of which will be eaten up by inflation and thus at the end of the year you are really no better off. Plus you’re missing out on the return from the rent in the meantime too.
If a property market is rising at say 1% or 2% per month and you wait too long before investing you will have (a) missed out on good growth (b) run the risk of there being less growth left in the market and thus when you do invest you will make less money.
Its not possible to find the answers to all the possible uncertainties in the world. At the end of the day property can be an excellent investment, you just have to educate yourself, do as much research as possible and position yourself so that when an investment comes along that meets your investment criteria you can move quickly and take advantage of it.
So our advice is to be cautious, learn as much as you can about what you want to invest in and then move quickly once you’ve made up your mind what your investment strategy will be. Contact us for more information and how we can source the best property investments for you.