Buying and selling tips

Persistence and resilience are two traits needed by real estate buyers, sellers and investors, now more than ever

A BIRD sat high in a tree in front of my house one afternoon last week and chirped non-stop for hours.

Its tune was short, never changed, and sounded like either a cry for help or calling out for a friend, but I couldn’t really tell because I don’t speak bird.

Even when I stood beneath the tree after midnight and tried to reason with my noisy new friend, the chirping continued, and found myself marvelling at the persistence and resilience of nature – not deviating from its action despite my disruption. Persistence and resilience are also two traits needed by real estate buyers, sellers and investors, now more than ever. We can all learn some lessons from the bird.

If you have set yourself a maximum price you’ll pay, do not deviate from it.

Too often emotions affect property buyers and they end up putting their personal finances under immense strain. Remember why you had a limit in the first place.

Write down the features you want for your property and things you don’t like. This will help clarify house hunting.

And don’t be put off by conflicting forecasts right now for real estate. Some say prices will head south, others expect a boom when Australia recovers from COVID-19. The truth is nobody really knows and property should always be seen as a long-term asset.

People will prey on fears about falling house prices, and there have been reports of homeowners being cold-called and urged to sell before the plunge. Don’t be influenced by fearmongers.

Almost every Aussie who’s held a property asset for a decade has come out in front financially. You only lose money when transacting.

Buying and selling is usually simpler for investors because it should be a numbers game without emotion, as they’re not planning to make the property their home or saying goodbye to the place in which they raised a family.

Investors always need a plan, and persistence pays off. Some may consider circling the market, like eagles or vultures depending on where you sit, to pick up distressed properties from pandemicaffected sellers. Which leads back to my bird experience. After our chirpy night, we woke to find not one loud chirp but lots of baby chirps coming from the tree. Obviously it was telling its hatchlings to bust out of their shells, and while doing so highlighted some of the fundamental rules of owning and investing in real estate.