Plenty of chances to buy

The Weekend Post - Real Estate - - Front Page -

HAVE you missed the prop­erty boat? Fol­low­ing ex­cep­tion­ally strong growth in house prices over the past two years, buy­ers might be ask­ing them­selves if they’ve missed their op­por­tu­nity to buy. It’s un­der­stand­able if you’ve been in the mar­ket for a long time and missed out on sev­eral prop­er­ties. But the short an­swer here is no, you haven’t missed the boat. There are al­ways op­por­tu­ni­ties and as prop­erty should al­ways be a long-term play, a pre­mium price paid to­day – within rea­son, won’t mat­ter much in 10 years’ time when your home’s value has in­creased sig­nif­i­cantly. Sure, we’d all like to pur­chase in the dead of a mar­ket and ride the wave of cap­i­tal growth when the cy­cle turns. But few peo­ple get this sort of tim­ing right. For all of us Cairns buy­ers, the old adage that time in the mar­ket is more im­por­tant than tim­ing the mar­ket holds pretty true. Should I wait for prices to fall? This is a clas­sic trap and easy to get caught in. Con­sider this. Our com­pany fin­ished last month with a record num­ber of prop­er­ties sold. This sort of sales ac­tiv­ity isn’t go­ing to come to a scream­ing halt just one month later. Prop­erty mar­kets move slowly com­pared to other as­sets, like stocks. Matt Powe Prin­ci­pal, McGrath Es­tate Agents, Cairns FROM the time your par­ents gave you pocket money, you’ve been told to save.

Save your pocket money, save your birth­day money, save money from your part-time job, and then they told you that you should save a por­tion of your wage when you scored full-time work.

When you were young, sav­ing for a new toy, phone, iPad, car or even a hol­i­day was rel­a­tively eas­ier than try­ing to save for a de­posit on your first home.

Sav­ing for a home can be very dif­fi­cult be­cause of the amount of money that is re­quired.

It in­volves bud­get­ing, be­ing or­gan­ised and mak­ing sac­ri­fices, and it can take a lot of time and dis­ci­pline to save for a de­posit.

Be­low are some tips to help you save enough money for a de­posit on your first prop­erty.

• Bud­get in ad­vance for your bills.

Ever y pay­day, put aside

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