Why is now the best time to purchase an investment or first home?
This time last year you were almost ready to buy your dream home, however property prices were almost at their peak with houses and apartments selling well above reserve pricing. This quickly took you out of the running for almost any home which seemed to be within budget when you conducted your initial online search. Now it seems that all the stock has just disappeared, but we can assure you that is not the case.
Is 2020 the worst time to buy a property?
If you have been hearing that 2020 is not the year to buy, have you stopped to think why that might be and whether that statement relates to your situation. Whilst COVID no doubt has had quite the impact on life as we know it, it has not actually affected everyone in a negative way. For majority of buyers it is never the “best” or “right” time to buy, as buying a property not only takes a large chunk out of your savings but inevitably means taking out the biggest loan you will probably ever have. So if you are asking, when is the best time to buy a property, we would suggest that with interest rates at the lowest they have ever been, it is certainly not the “worst” or “wrong” time to be considering that purchase right now.
Why are there such limited properties being advertised?
And so now you have waited, seen properties come and go from the market, potentially turned up to an auction or two where the starting bid is higher than your stretch budget but you are ready to find your next home. Whether it be your first steppingstone into the real estate market, adding an investment property to your portfolio, upsizing or downsizing, regardless of your position, you have made the decision to purchase your next property.
However, for some reason it still does not seem like the right properties are popping up on your searches or you just are not getting an accurate price, and this is where a Buyers’ Agent comes in.
A buyers agents advantage
We can assure you that almost any property you are seeing online, came across our desks first. Our invaluable relationships with real estate agents allow us to inspect these properties and put them forward to our clients before they even hit the market. But as you may have noticed, it seems like a lot less properties are hitting the market. Whether it be COVID-conscious sellers wanting to reduce the number of strangers coming through their home week to week or a bitter and complicated divorce where both parties want the property sold as quickly and quietly as possible, the demand for off market dealings has grown rapidly this year. Just last month we had over 500 properties come through to our off-market database.
We set up private inspections to walk you through the property, answering all and any questions to turn pictures and floor plans into a reality. With our industry expertise, we know how to calculate the true value of a property and will only show you properties that will sell within your budget, hopefully avoiding disappointment from unrealistic price guides. Best of all, once we find you the perfect property, not only will we negotiate or bid on your behalf, but we will follow through with all the due diligence so that you can focus on the excitement of your brand new purchase!
Whether you are relaxed by nature or like to take control, we can remove the stress of searching, negotiating and buying your next property to add to your portfolio.
Some interesting buying facts -
Influx of apartments expected in the market, perfect opportunity for an investment and to create capital growth
Great time to jump into the market as first home buyer as the grant has been increased to include properties up to $800k (previously $650k)
Buyers agents can provide accurate pricing on properties, not unrealistic guides that come up on realestate.com/domain
Buyers agents can source off-markets, pre-market or go door knocking for those hard to find homes
Less houses and apartments going to the advertised market due to vendors being covid safe and wanting to reduce traffic through their homes
Let our team assist you with your next investment purchase - please fill in your details and we will be in touch!