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Monday 12th of May 2008 12:06 PM

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DON'T WAIT TOO LONG FOR THAT 'GOOD BUY'

Now that some media commentators are talking about the end of the property boom, there are buyers who think they should delay their purchase hoping that prices will fall far enough to find a‘real bargain’.While bargains do exist, for people who are in the right place at the right time, there are often more people who miss out by using this strategy.

Most buy their family home and live in it for, on average, 7 to 10 years. And when we’re looking at averages, the property market continues to rise. Based on historical property cycles, property may undergo periods of static growth & periods of galloping growth, but on average residential property doubles in value every ten years or so.

Certainly, if we could always pick the lowest time to buy & the highest time to sell we would do very well indeed, but the only buyers who need worry about the immediate state of the market are the real estate speculators who wish to buy then sell again straight away, or who have entered into unrealistic amounts of debt.

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Want to view editorials and articles on Natgroup? Click here to view latest interviews and features on Natgroup founder Edgar Natolo.
Feature Article in Sold Magazine Jan 08
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