Three things to remember when looking to buy real estate in 2016

Three things to remember when looking to buy real estate in 2016

With the new year well and truly under way now, many people may be thinking about their next property transaction. Here are three important factors to think about before buying a property.

1. Develop relationships
Whether you are looking to buy or sell real estate in 2016, developing relationships with real estate agents can help. Spend some time informing local agents about the type of property that you are interested in. A buyer who has a strong relationship with an agent may be the first person to be called when a suitable property is listed for sale.

2. Play the long game
In my experience, property investment works best over the long term. Property growth tends to occur in cycles. Investors could increase their risk of losing money by trying to pick the top or bottom of a cycle. By investing in property over the long term you may be able to eliminate much of your likelihood of being burnt by short term volatility.

3. Buy with your head, not your heart
Make sure that you don't become too emotionally involved when looking to buy a property. Try to think rationally about the purchase. One way to help do this is to set a budget and write a check-list of features that you want in a home. When you inspect a property, compare it to the list – this may help you to stay within your budget rather than getting tempted buy a property that doesn’t fit your needs or price range.

Posted by Charles Tarbey on 13/01/2016 at 1:49 PM | Categories:

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