Is your New Year’s resolution to buy a property? Here’s what you need to know
The dawn of a New Year offers a fantastic opportunity to put things in perspective, map out the road ahead and consider what you’re looking to achieve.
In real estate, this period often sees people re-evaluate their property needs and assess exactly what they intend to do in the 12 months ahead.
So, if your list of New Year’s resolutions includes buying a property, here’s what you need to know…
No time like the present
There’s a fabulous saying that goes a little like this…the best time to plant a tree was 20 years ago, the second best time is now.
It’s the same with property. As much talk as there is about market conditions, interest rates and rising prices, securing a home of your own that suits your personal or financial needs is a decision many people wish they’d made earlier.
The good news is, there’s no time like the present. After all the ups and downs of 2021, there is currently more property stock on the market, which means greater choice for buyers when it comes to first home purchases, upsizing, downsizing and investing.
Solid market conditions
On that note, conditions in the property market are currently solid. The rising prices of recent months have slowed a little, lending conditions remain favourable and interest rates at are at an all-time low.
That makes now the time to seize opportunity and jump into the property market with greater choice available.
The value of property
People can talk about ups and downs of the stock market as much as they like, but the property market has consistently performed in Australia over the past two decades with minimal lows and record highs.
That’s largely due to the fact Australians value the security of bricks and mortar real estate. We know there’s security in a roof over our head and a family home to call our own.
That trend isn’t going anywhere in a hurry.
Start your research
If you’re considering purchasing property in 2022, now is the time to start your research, looking at the areas you are considering buying or investing in, along with the features you seek in a home or investment property.
There are plenty of areas primed for solid capital growth in the coming years, and there remain bargains to be had.
Get your finances together
For those intent on purchasing in 2022, it’s always wise to look at your finances and loan options sooner rather than later.
This might include having any current property appraised for sale or rental, or talking to your lending institution about what you will be eligible to borrow.
While there is currently more stock available for purchase, this continues to be a property market that moves quickly, so having your financial ducks lined up well in advance remains a prudent strategy.
Talk to a trusted agent
Know exactly what you want to buy and the regions you’re keen to purchase in? Talk to a trusted agent to register your interest in the properties they have available.
The best agents will record your details, including the property features you’re looking for and add them to their database so you can be alerted to properties coming to market well in advance.
Looking to buy or sell?
If you’re considering buying a property or perhaps selling your existing home in 2022, why not chat with one of our friendly Eview agents on 1300 438 439?
You can also view our list of currently available properties here.
