When it comes to deciding on the right time to buy your first home, or investment property, now is the right time – if you take a long term view.
Chances are you’ll probably need a roof over your head for years to come, so do your research, clarify your wants and needs, lock in your finance, then pounce when the right property presents itself.
With low interest rates, low unemployment, population growth and property prices recovering, now is a good time to buy – election or no election.
Speaking of elections… With the looming federal election on 14 September, buyers and investors have typically paused while trying to understand the policy positions of both parties.
But many experts agree that buyer caution at election time is not warranted. Terry Ryder, real estate investment writer of more than 25 years, lists economist Professor Jakob Madsen, property expert Michael Matusik, and Louis Christopher of SQM Research – a Property Research and Advisory firm – in agreement: there is no evidence that election campaigns impact housing markets.
With the exception being the actual day of the election, the reality is this: buying a home or investment property is a long term investment strategy, with the present conditions being favourable for investment.
Echoing this position is Aussie home loans Executive Chairman, John Symond.
“If you want to pick a time to get into housing, you can’t get a much better time than now,” Mr Symond told more than 3000 agents at the recent Australian Real Estate Conference on the Gold Coast.
The bottom line is this. There will be movements in the market and in interest rates, but do your research and have patience when investing in real estate. But above all, be decisive.