An Important Lesson for Homebuyers

I'm often asked what are the important things buyers should know when they purchase a home. Many commentators talk about research, know the area, know the market, get a building inspectors report, etc etc etc.

All of those things are important of course, but above all the most important buying strategy is "knowing when to walk away" That's right, it is as easy as that. When negotiations are not going according to plan simply turn around and walk away. All too often egos and emotions become the driving factor in negotiations instead of rationale and reason. You don't have to have that house, you only think that you do. There will be thousands of others out there and many may be better than the house that you have just fallen in love with.

Just tell the agent "sorry I've lost interest" and walk away. It will either get you that house at the right price, or you will find a better one.

Ask any questions about buying your house on this blog, or email me at www.rescueme.com.au (peter@rescueme.com.au)

April 2009 - Where are we going?

House prices continue to hold and even gain some modest ground in many areas across Australia, but by no means will property prices surge under the current economic conditions. In fact many higher priced house have either fallen or will fall in the next 12 months.

Is property going to become a losing investment? No way, in the long term it will always be a superior investment that will offer both modest rental returns and sound capital gains, but as always it is important to buy well, and be able to hold in uncertain times. If anyone overborrows they will be quickly exposed financially and may need to sell property at the worst possible time.

Bear that in mind whenever you buy. Be positive, but be cautious.