LOCATION IS THE KEY

BUYING a property is an elevator ride of emotions. Once you have made the decision to purchase a property, here are a few points you should consider.

What do you want and where? You will always be able to buy a more modern, “impressive” home in an outer suburb than you will in an established suburb. If you want a blue chip location you will always pay more. Location is very important as a prime position always holds value and desirability regardless of the prevailing economic climate.

Buy for a view – if you can afford it – a good view always holds value.

Are you buying a family home or looking for an investment property? There is a huge difference between the benefits of an investment property versus requirements for your primary place of residence.

If you want an investment property, emotion should not factor into the decision. Add up the short-term profit, long-term capital growth and holding costs before signing the contract.

Location is very important as a prime position always holds value and desirability...

If you are considering upgrading to a more lavish home, now is the time. Take advantage of the market downturn. It is possible these conditions will be the most affordable opportunity you will have to buy a prestige property.

If you want to secure a property at your ideal price the easiest way to do it is with cash. If you have no conditions on a contract it is more likely to receive a favourable response from the sellers. The more conditions you put on a contract the more money you need to offer in order for it to be accepted. The saying “cash is king” is true in the world of real estate negotiations.