Which Little Piggy Went to Market?
… and which little piggy stayed at home? It seems that all the little piggies are a little confused at present as to what to do.
Well, the answer is to do exactly what you want to do without worrying about the market, because if you worry too much about what the market is doing, or going to do, then you might end up in the market – and no little piggy wants that.
So here’s what’s happening.
The buyers are plentiful, all kinds of buyers – upsizers, downsizers, investors, families, singles, couples, you name it. This is probably due to the backlog created by the COVID-19 lockdown, low interest rates, government subsidies and the likes, but they’re out there, which then means it’s a good time to sell, if that’s what you were planning to do.
Properties are being snapped up as long as 1. They are well presented, and 2. They are realistically priced. So sellers, this is your moment, but please get those 2 things correct. Now buyers – you are in competition – you need to be prepared if you are going to compete or you will be out of the game. See a finance broker BEFORE you go hunting for property and get a pre-approval on your finance. If you are not prepared in this way and you want to make a subject to finance offer, then you will probably miss out. The banks have tightened up their lending criteria and money, although cheap, is not as easy to come by so please, please put yourself into a strong position before you go shopping or make an offer.
Presently, we are in the lucky state of the lucky country, with a strong economic outlook, so the future looks positive, but with the world reacting in strange ways, to strange things at present, your luck could change in an instant, so it’s not a time to over commit but, in my view it is time to invest in bricks and mortar, land, or indeed anything that is under your control. The point is, that with the disappearance of hard cash at an extreme rate, everything turning digital, laws being changed, projects being “fast tracked”, governments deciding on your fate, I strongly advise taking back control of your hard earned cash and placing it in something you can see, touch and command. Apart from anything else you will be getting a far better return from your property than you will be from your bank, as the rental market is also buzzing like a wasp on Prozac.
So, in a nutshell, ignore all the bad news, follow your instincts, don’t believe everything you watch or hear, forget the crystal ball, don’t take advice from people who know less than you and take charge of your own destiny.
Source: “Which Little Piggy Went To Market?”, The Post – 19 September 2020.