18 Sep 2 Things we want you to forget about investing
The most common reason people don’t get involved in real estate investment or purchase their first property is not lack of information. It is misguided assumptions about what is true and what is not. There are many more opportunities available to real estate investors today than most people would believe. The reason for this lack of information, or disinformation, is that news services and media outlets have discovered an interesting psychological fact – telling people good news doesn’t attract readers, listeners and viewers. News sites and channels are packed with disastrous stories of a lack of affordability in the Australian housing market, how the average person needs massive deposits to buy property and numerous accounts of people leaving capital cities to purchase small cottages in the country for a small fortune. In isolation, some of these stories are relevant – if you want to buy a property in the Sydney CBD you will need millions of dollars unless you want a small closet with views of a wall. But when you look at the Australian property market as a whole -which you should – there are plenty of opportunities to capitalise on. Here are two things we want you to forget about property investment.
- It’s Impossible to Buy Your First Property Without a Massive Deposit.
You may not even need a deposit. While it’s, “common knowledge,” that if you don’t have tens of thousands of dollars in the bank then you can’t buy a property, this is not always the case. Depending on your circumstances, you may be able to get into your first property without having to put a massive deposit down, or indeed any deposit. We have worked with first home buyers who have managed to buy the property of their dreams without having to lose their savings. Speaking of the property of your dreams –
- Your First Home Can’t be Your Dream Home
This, of course, depends on what your dreams are. If you want to buy a five-star hotel in the Brisbane CBD, then yes, your first time cannot be your dream home. If however, you want a brand-new property a good area, surrounded by families and with a big backyard for the kids, then your first home can definitely be your dream home. Will it be your dream home in a few years, when you decide to upgrade? Probably not, but that is your dream evolving, rather than having access to the right properties at the right price. The trick is to broaden your horizons, gain access to an up-and-coming area early, and then you can potentially have everything you want in your first home.
If you’d like to learn more about how we have helped thousands of Australians change their thinking, and purchase their dream home with no deposit, click here.