To all of those people in the position of buying property (Not having to sell a property first), the question I have is are you looking?! If not, why not!? What are you waiting for?
Right now is a GREAT time to buy property, whether it’s for investment or moving out. I don’t see a sudden drop in prices, as everyone predicts, I see (and many people agree) a deflation in price if anything. If you wanted to buy something before, why not go out contact an agent and start looking?! If you find something you like, try, if not well you haven’t lost anything and at the very least you know what you are looking for!
Based on the poll I posted last week, everyone is scared that the market will crash. 100% of people voted that this is why they haven’t bought.
Now this can be debated left right and centre but the biggest point that I would like to point out is that EVEN if the market crashes (which i don’t believe it will) it ONLY affects people if they SELL.
One of the greatest investors of all time (Warren Buffet) doesn’t believe in timing the market. He is worth A LOT. He knows what he’s talking about.
Lets say you bought today, sign, sealed and delivered…congrats! You are in your new home for the next 5 years!Then all of a sudden, the market crashes tomorrow and prices drop! Oh no! well guess what, it doesn’t change anything for YOU because as long as you don’t sell tomorrow (which you won’t because you are in your new home for the next 5 years) the drop in price doesn’t affect you.
Now you might say, well then maybe I should wait for the crash, and buy then, right? Well, do you know EXACTLY when that’s going to happen? no? well neither do I, and I would bet neither does anyone else. What you would be doing then would be TIMING the market. And I don’t know about you, but I like to listen to old Warren.