choosing property takes experience

Choosing a property takes experience

Whether you are buying a property for the first time, or downsizing to the home you are hoping will be the last big purchase you make, it can be difficult to make objective decisions about which property is likely to perform the best financially over time. After all, choosing a property can be a decision that is more emotional than logical.

That’s why an increasing number of Victorians are turning to an experienced Buyer Advocate to assist them in making the right choice in their property dealings.

Choosing the best option in your next property involves a number of different choices. Not only do you need to select the area that suits you and your lifestyle best, but you also need to decide what type of property will best meet your needs, and what price is appropriate for that option.

These reasoning behind these decisions becomes very relevant when you look at the most recent property value data from Corelogic, which indicates that whilst Australia’s house values rose by 24.8 per cent in the year to January, unit prices rose by a more moderate 14.3 per cent over the same period. In fact, the disparity between Australia’s median house and unit prices reached an all-time high of 28.3 per cent at the end of last month.

One of the reasons for this price disparity is that the unit market in some areas of Melbourne was particularly hard hit by the impact of the pandemic. For example, those areas where a large percentage of units were owned by investors catering to overseas students saw a number of panic sales which reduced the overall price of units in those suburbs.

So the key learning here is not that houses are necessarily a better choice than units, rather that choosing the right property for your future requires an intimate knowledge of the market and the options available.

With this in mind, it is important to remember that an experienced and objective advisor to assist you with choosing a property is just a phone call away. A well-connected Buyer Advocate can not only advice you on your purchase, but they can also source properties for you that may not be available to the general public.

So if you are about to take the next step in your property journey, you can have a confidential chat with one of our Buyer Advocates at Ian Reid by calling 9430 0000 today.