Is NOW the RIGHT TIME to buy property?

Is NOW the RIGHT TIME to buy property?

For every time we had a dollar we were asked this question.

When we started our property journey in Year 2009, the Sydney market was dead.

We would go to open homes and for the life of us, we couldn’t figure out why was NO BODY buying property!

You might say – the prices were low… well the prices were low, the rents were strong, however the rates were still much higher than they are today.

Why it didn’t matter was – we had a ‘why’. You can either have the reasons or you can have the results.

We had the reasons to do it and some very personal reasons.

What we realised was, people get frozen with fear, then they buy into the media hype, well meaning but mis informed advice from family, friends and colleagues. AND they expect overnight results & growth.

Sydney market went crazy in late 2013, early 2014 with 70+ groups through a property.

Consider OPPOSITE market conditions….

BOOM markets + High competition + Paying premium prices + Buying mediocre properties (just to enter the market) = FOMO kicks in!

There are two scenarios:
Scenario A – Having negotiating power in a buyers market
Scenario B – Competing with other 20 offers in a HOT SELLERS market (FOMO)

Remember 2020 – when everyone thought they would be savouring on the hardship of those who lost their jobs and were about to lose their homes? They were the biggest losers in this chasing game… Why? Because we all know what happened to property in late 2020, 2021 and even this year…

You can make money in BOTH markets – however Scenario A is MORE FAVOURABLE to the buyers
– WHY? Greater chance to make money, as the masses are fearful. When they finally jump in, the market increases in value (they were waiting for the “perfect time”, while you were negotiating deals to your advantage)
– The sooner you buy, the more time and exposure you have to the property market cycles
– Lending climates and life circumstances change. Focus on what YOU can do and WHEN rather than focusing on EXTERNAL factors alone
– Time in the market vs. Timing the market
– Times of FEAR is when you can set your foundation and is ACTUALLY the time to take ACTION

We’re LOVING the opportunities the current market is creating for our clients.

The selling agents are having to really learn to deal with THIS market.

There is so much opportunity it’s not even funny.

Look at the next 5, 10, 15, 20 years. Property is the long game…

Thought we’ll drop this image in below