Perth financial planners are often asked to oversee real estate portfolios for those who decide to use real estate as an investment strategy. As with any investment vehicle, real estate isn’t for everyone. In addition, we are not allowed to provide advice in this blog because everyone’s financial situation is different. However, we would like to tell you about four fears that often keep people from including real estate in their investment portfolios.
Fear of Paying Too Much
The axiom “buy low, sell high” has probably been around for as long as people have bought and sold things. Some people get so bogged down in research that they can’t make a decision to buy any particular property. Research is important, but so is action.*
Fear of Buying the Wrong Property
People are also afraid of buying the wrong property. This could be the wrong house or the wrong neighbourhood. This can often be overcome by creating a firm plan and sticking to it.*
Fear of Auctions or Selling Agents
First time buyers or those who have had negative experiences in the property market can be distrustful of the process and the people who facilitate it. This can often be overcome by getting to know real estate agents until you find one with whom you are comfortable.*
Fear of a Crash or a Bubble
The property market has been unstable, especially in the last seven years. Some worry that the market, the economy or both may crash. The preferred strategy of many for allaying those fears is to focus on long-term growth and a sustainable economic lifestyle.*
Call Approved Financial Planners
With over 80 years of combined experience in the Perth market, Approved Financial Planners will be happy to take care of your financial planning needs. We work with you to determine your individual needs and create an individual plan for you.
Call 08 6462 0888 today.
*Realestate.com.au, 12 December 2014. “Buying Property: What are You Scared Of?”