PROPERTY BUYERS: TOO GOOD TO BE TRUE!

May 29, 2018

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As the saying goes, “If something seems too good to be true it usually is” and that is often the case when buying property. The good news is that buyers can make the right property decisions if they make the time to do substantial research about what they want to buy and where they are going to buy it, the catch is having the time to dedicate to doing such research.

Buyers should be aware of sales tactics being used by the selling agent when considering a property to buy. Good properties should sell themselves, and this is primarily based on their position as that is the one thing that can’t be changed. If a sales agent is touting a guaranteed rent return for two years or a tenant for ten years then a repaint and carpet after that time, as well as an included furniture package, beware! These are all lures commonly used in investment schemes and unit sales.

Just because a newspaper article or the nightly news says that it is possible to still ‘bag a bargain’ within a 10km radius of the Brisbane CBD, it does not ensure a good property will be purchased. Alarm bells should ring in that circumstance, because there are no house and land properties under $500,000 within a 10km radius of the Brisbane CBD that are not either flood effected, on a rail line, next to an industrial estate or adjacent to a main road or highway for that matter.

When searching the market for a property, proper due diligence needs to be done. It may take some time to do the research, but it will be worth it in the end. There is a lot of free property market information on the internet and again you need to be wary because  with such volume it is also hard to decipher what is good and what is not and what was the motivation of the author posting the information. One key element to consider though is supply and demand, easy to buy usually means hard to sell.

Through our role at PS Property Advisory we see and have purchased well positioned properties that present opportunity and potential to our investment clients as well as the dream home for our owner occupiers. However on the flipside we see ten times the amount of properties we would not buy for our clients and it is that knowledge that over 80% of our clients deem was most important to them.

We recently calculated that over the past 19 years our company has assessed nearly 250,000 properties in our role as property advocates & advisors. With over 90% of those properties located within a 15km radius of the Brisbane CBD, we can confidently say we are the most experienced Brisbane Buyers Advocate. Our Advocates possess detailed market knowledge and extensive networks that benefit our clients being independently represented.

If you do not have the time to do the in depth research needed to purchase your first or next property, contact us to discuss how we can create Optimum Property Outcomes for you.