No re­grets — just lessons

The Advertiser - Real Estate - - Manchester Circuit, Craigmore -

valu­able learn­ing ex­pe­ri­ence — and never be to al­lowed to fes­ter.

If you don’t be­lieve me, just lis­ten to what these fa­mous people have said:

Jennifer Anis­ton: ‘‘There are no re­grets in life — just lessons.’’

John Tra­volta: ‘‘I don’t be­lieve in re­grets. I be­lieve your fu­ture is in your to­mor­rows.’’

Cameron Diaz: ‘‘Your re­grets aren’t what you did, but what you didn’t do.’’

Of course, the real es­tate cre­den­tials of these ac­tors may be ques­tion­able, but they give you an idea of the cor­rect think­ing a property in­vestor needs.

You can find re­grets, neg­a­tives and mis­takes in any property buy­ing or sell­ing de­ci­sion, but it re­ally should be about think­ing about what hap­pens many to­mor­rows from now.

The good news is that many com­mon re­grets can be avoided with a few hours of ex­tra re­search.

These days the in­ter­net and real es­tate agents pro­vide a trea­sure trove of data about re­cent sales, chang­ing de­mo­graph­ics and news spe­cific to your area of in­ter­est.

There are count­less cal­cu­la­tors on­line that help you work out the fi­nan­cial side and make projections about loan bal­ances and how in­ter­est rate moves may cost you.

Get­ting pre-fi­nance ap­proval from your lender will set a strict fi­nan­cial limit on your spend­ing ca­pac­ity and help avoid re­gret­ting pay­ing too much for a property in a hot hous­ing mar­ket. Armed with all this ex­tra knowl­edge, any­one about to make a property buy­ing or sell­ing de­ci­sion can put them­selves in the best po­si­tion to avoid er­rors, or at least un­der­stand that re­grets shouldn’t al­ways be viewed in a neg­a­tive light.

Anthony Keane is the edi­tor of Money Saver HQ, which ap­pears in The Ad­ver­tiser on Mon­days.

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