Myths. The property market is riddled with them. Often masked as positives, the consequences of falling for them often leaves investors dazed and confused – “how could a sure thing fail?” When navigating through the property world, avoid these fables to find property truth.
The Wakelin Blog
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Located on the water yet close to the city, Elwood’s popularity with young professionals and investors alike comes as no surprise.
When planning on investing in property for the first time it is important to prepare yourself for the six main steps in any property journey (establishing finance, asset selection, negotiation, settlement, property management and portfolio review). With thorough research and preparation you can go from a novice to a property owner in three or so months.
Initially, a prospective investor must be fully engaged if they’re not to be deterred from action by obstacles such as the fear of losses, the arcane language used by finance professionals and the bewildering choice of assets. However, once an investment strategy has been formulated and put in motion, the smart investor knows it is wise to step back and give the plan the time to work.
Those of us fortunate enough to live in established suburbs clearly have to accept more development around us. But policy planners need to work harder at finding equitable outcomes, one where landowners who sell out to developers don’t gain a windfall at the expense of their erstwhile neighbours’ amenity and property value.