Like any industry, the property world has a LOT of voices telling you what you should and shouldn’t do.
And like anything, some of the voices are great, but unfortunately, others are spurting weird and wonderful things.
People can be incredibly believable, it might be someone on Youtube, the news, or even your cousin’s neighbour’s dog, giving you the advice to do something in the property market.
In doing so, they expel some things that we’d kindly refer to as misconceptions. Here are 5 you might commonly see.
- I’m too old to invest…
Age and investments are often seen to not work very well together – let us tell you right now, that’s NOT the case.
Recently, we had a lovely couple come to us, asking ‘Are we too old to invest in property?’
They were just entering their sixties, and were worried that they’d maybe missed the boat when it came to property investment.
Being in your fifties or sixties doesn’t mean that you are unable to set up an investment portfolio that provides both long and short-term benefits.
We are now working with these lovely people, having just finalised a 10-year Propell Property Plan, to ensure that they are setting themselves up perfectly to retire well within that timeframe, with adequate cash flow to ensure that they are living the life they want and deserve.
At the end of the day, it’s about creating a plan that works for you, specific to your age, circumstances, family and financial situation – the ball is in your court to work towards your goals, no matter where you are in life!
- Buy close to home!
This is a super common expectation for people when entering the property market. As humans, we tend to trust the things that we know, and our town, city or region is no different – which is why we’re often never presented with the concept to look any further.
Looking at the property market as a whole is incredibly important, as ultimately, working to find property to suit your unique goals and circumstances is far more important than buying a place across the street.
As property specialists, we ensure that your outcome is tailored to you, it may be the best option to purchase outside of your city or state, in order to meet your goals financially.
If you live and rent in Sydney, and maybe it’s too expensive to buy your dream home there, we often consider the prospect of buying an investment in a cheaper state, like Queensland, to offset this rent and enable you to live where you love!
At the end of the day, buying close to home doesn’t have to be a priority, somewhere different may be the best option for you!
- I need to base my purchase around a grant or gov scheme.
Government grants and schemes are often great ways to help out with property purchases or investments. Unfortunately, though, it can make you feel like there’s no better or other option, and these grants are the be all and end all.
Ultimately, we see these as just the icing on the cake – it’s far more important to ensure that your investment makes sense for your unique goals, rather than making something fit just because the government might help you out a bit.
You wouldn’t buy a food that you were allergic to, just because it was on sale, would you?
This may be a bit of a dramatic reflection, but it rings true. Buying just because you receive an incentive isn’t the goal at the end of the day – buying property is about ensuring that it works for you first and foremost, with the view of increasing equity and making financial gains in the long run.
- That’s it, the bubble is bursting!
We have this come up VERY frequently on our social media and through messages, with people saying that Australia’s property bubble is about to BURST.
With changes to the macroeconomic environment, property prices DO fluctuate, and we have been very lucky to see some incredible growth across the country over the last few years. This suggests to many people that prices are bound to go down – and on the whole, there might be some decreases or slowing in growth, to coincide with demand changes. But to us, there are a few indicators that say otherwise.
Throughout history, this concept has come up a number of times, but on the whole, as inflation continues and the world progresses, so do property prices. Ultimately, long term growth is sustained and reliable.
And that’s the key with investment, we’re not here for quick flips and short-term purchases. Property is about the long-term understanding that fosters comfort and financial stability.
Another key factor is location – naturally, the market changes significantly depending on where you buy. So, depending on the city, town or region that you purchase, in, this will have a large impact on results. That’s why we place so much importance on choosing the location that works best for you – our Research and Acquisitions teams work hand in hand to ensure we are putting you in the best position for success, in high growth locations, where supply and demand work together to provide real results.
Ultimately, whether the property bubble bursts or not, is irrelevant to us as investors, as choosing the right location, with the right strategic plan, will do far more in ensuring that you have the means for long-term success.
We love a misconception…
Why?! Because they mean we can help you to learn and understand more about the investment property environment.
At the end of the day, sharing our knowledge and unique understanding is at the heart of everything we do. At Propell, we’re here to ensure that your journey is well advised and clear as day, ensuring that your strategy works for YOU.
Interested in knowing more about our Propell Property Plans, and how we tailor them to your unique circumstances and goals?
Give us a call on 1300 776 735, or send through an enquiry HERE, we’d love to chat!
