3 Reasons You May Overpay For Your Next Property
Many property experts tout the line that you make money when you buy property, not when you sell.
If this is true, then it’s important to ensure you’re not paying too much when you sign that contract of sale.
Of course it's more important to buy the right property than buy a secondary property at a cheap price.
Having said that, here are 3 reasons you could overpay for your next property, and how to avoid making these costly mistakes:
Reason 1: You don’t understand the current market price
The property market is always moving – but are you up to date?
Do you follow real estate sites, check out statistical data, and have your finger on the pulse of the market in the area?
Things can change quickly, and whether you’re buying a home as an investment or a place to live, you need to be abreast of the latest trends.
Look at similar properties that have changed hands recently to see how they were priced, and how quickly they sold; this is a good indicator of supply and demand.
Read more: https://www.yourinvestmentpropertymag.com.au/expert-advice/ahmad-imam/3-reasons-you-may-overpay-for-your-next-property-265084.aspx
If this is true, then it’s important to ensure you’re not paying too much when you sign that contract of sale.
Of course it's more important to buy the right property than buy a secondary property at a cheap price.
Having said that, here are 3 reasons you could overpay for your next property, and how to avoid making these costly mistakes:
Reason 1: You don’t understand the current market price
The property market is always moving – but are you up to date?
Do you follow real estate sites, check out statistical data, and have your finger on the pulse of the market in the area?
Things can change quickly, and whether you’re buying a home as an investment or a place to live, you need to be abreast of the latest trends.
Look at similar properties that have changed hands recently to see how they were priced, and how quickly they sold; this is a good indicator of supply and demand.
Read more: https://www.yourinvestmentpropertymag.com.au/expert-advice/ahmad-imam/3-reasons-you-may-overpay-for-your-next-property-265084.aspx
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