You probably have heard this time old phrase from people before you and people before them stating that “Today you would have paid too much for your property; but tomorrow you did not!”
Is this perhaps a drummed up question by the media when they should really be asking “Based on your own Risk Profile, when is it the right time to buy property?” Why we say this is because Australian Property Records date back 120 years and during this time no matter which 10 year period you choose … property has always doubled in value without fail!
The only time to invest in property is when you make a decision to sign the contract, until that moment you are not ready! But that property you ‘should have’ made a decision on is ready!!
Ask yourself over what period do you intend to utilise this investment structure, to reach your investment planning goals : If less than 5 years, then unless you inherit the property why take a risk? If longer than 5 years then the odds are in your favour ~ the longer you hold onto the property the lower the risk profile.
Ask anyone who has waited for property prices to come down. Ask them “knowing what they know today, if waiting was the correct decision?” Unfortunately these are the very same people who keep saying that the property bubble will burst – not because they mean it or that it is based on probabilities; but simply because it is their wish to justify their feeling of “I should have!”
It is not a matter of ‘when is the right time to invest’ but “based on my risk profile, time frame and budget, in what should I be investing?”
Why invest, there are a multitude of reasons:
When there are such strong fundamentals in place, surely it is not a matter of when you should invest but in what should you be investing in?
Would love to hear your thoughts on this subject!
Comments or questions are welcome.