Bathurst Blog

Thinking of Buying at This Time

The wise owls of the real estate market are fond of giving advice on buying and selling property. If you read a bit about the Australian housing market you know by now all the reasons why housing might be overvalued: low interest rates, insufficient supply, greedy banks lending way too much, population growth and the belief housing only ever goes up.

People will say: Don’t buy now. You might buy the same place for 10 per cent less next year. So long as the market is falling, you should stay cool  -or-  Don’t wait for ever. Markets fall and then they turn up again. Price falls are unlikely to be long, five-year, 40 per cent crash first home buyer’s dream of at night.

Do your research, and not just online. Places that look so appealing on the real estate sites appeal to lots of other people. Seek a reputable estate agent and do inspections. Foot work puts you in a very strong position. You can never time the market perfectly. You never know what the market is doing right now, only what it was doing last month. If it starts to turn up, it will be a while before you realise.

The tip: If you’re looking for something you can afford and that ticks all your boxes and it comes along, treat it seriously.

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