The Weekend Post - Real Estate - - Front Page -

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.

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