Make the Most of This Market
This is definitely a “He who hesitates is lost” market – so button up on all the doom and gloom and realize that this market is Manna from Heaven for anyone looking at buying property. You’ve never had it so good, not in the past decade that is. Just how good it is, depends a little on what you are buying. The best buys in the market are ‘top end’ sales being the most expensive homes in any particular area.
This is mainly because some of the top end jobs are not so available anymore and an overall lack of confidence makes everyone very nervous. This is a shame, because when everybody pulls back from the market, the market obviously drops – it’s a self-fulfilling prophecy. So, given that the market is built on confidence, and there’s not much around (confidence that is) – this is the prefect time to do the opposite of what everyone else is doing. It’s the perfect market to upgrade your home, because what you lose on yours is a fraction of what you’ll make on the one you’re buying – so get out there and buy your dreams while they are still affordable!
See more of 3/112 Onslow Road, Shenton Park
Other hot buys include apartments – but this is a two edged sword. They are cheap but they are plentiful so don’t expect huge capital gains for some time. They are great for negative gearing and for a long term hold to create an income for yourself in your old age. However, be picky – choose something a little bit different– I’d go for a small complex, a central convenient location, space and a quality build.
The “flavor of the month” in the Western Suburbs right now are medium priced character homes, especially those that can have value added to them. They are walking out the door and have not been adversely affected to any substantial degree in present market. People are beginning to recognize that new homes can be built anytime, anywhere and that true value lies in what is rare, irreplaceable, unique and charismatic. Character homes will always be in demand – and sure people will elevate them to today’s standards, but the soul that is found in these homes cannot be created in the bland lines and unimaginative finishes of today’s average homes.
So in a nutshell, action is required on your part if you want to build your wealth from Real Estate, which is what 78% of rich people have built it on. Don’t be shy to buy something that someone else will pay you for because you won’t get rich on your own. You can make money in Australia, but you can’t keep it!
I know we are talking about money right now, but just remember these are also many ways you can be ‘rich’ – without it. So, like everything – it’s a choice.
Source: Make the Most of This Market, Western Suburbs Weekly, Residential – 1 November 2016