How To Avoid Delays That Price You Out Of The Market

I wanted to share some common delays and how to avoid them, to prevent you from being priced out of the market.

• Not being clear on why you're buying - can cause indecisiveness and a lack of confidence when the right property is found. If you’re purchasing solo, take time to understand why it is that you want to purchase and what your short-term and long-term goals are. 

It sounds straight forward but you'd be surprised as to how many people don't start with this simple step and it derails them when they’re researching property.

It’s even more important to be clear if there’s more than one person involved.

• Lack of clarity or alignment always causes delays. 

Sit down and have the hard conversations from the beginning, so that you’re aligned before you get into deep-search mode and certainly before you engage a buyers advocate. 

• If you haven’t purchased within 3-6 months of searching, you’re going to have to pull on one or two of three levers - otherwise what you’re looking for may not exist.

The levers are:

✅ Location

✅ Budget

✅ Floor plan / Space configuration

Commit to reassessing every 3 months. Run a report of sold properties (you can do this on realestate.com.au or domain) with your exact criteria (longer for commercial). 

If you're unable to find at least 3-4 that you agree you would have purchased, then you’re going to have to reassess your criteria.

It’s that simple.

Know what you want.

Make sure your negotiable list is longer than your non-negotiables.

The home market in most of Melbourne is growing at a rate of about 6.5%. So the value of a 1M property today could be worth $32,500 more in 6 months. A $2M home, will increase to about $65K more in 6 months… and so on.

𝗧𝗵𝗲 𝗴𝗼𝗮𝗹 𝗶𝘀 𝘁𝗼 𝗴𝗲𝘁 𝘆𝗼𝘂 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝘄𝗶𝘁𝗵 𝗮 𝗴𝗿𝗲𝗮𝘁 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝘁𝗵𝗮𝘁 𝘄𝗶𝗹𝗹 𝘄𝗼𝗿𝗸 𝘁𝗼𝗱𝗮𝘆 𝗮𝗻𝗱 𝘀𝗲𝗰𝘂𝗿𝗲 𝘆𝗼𝘂 𝗳𝗼𝗿 𝗮 𝗴𝗼𝗼𝗱 𝗿𝗲𝘀𝘂𝗹𝘁 𝘁𝗼𝗺𝗼𝗿𝗿𝗼𝘄.

If you need clarity on help and options, book in for a 1:1 call.

#property #homesweethome #propertyinvesting #truenorthba