No regrets — just lessons
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.