Best Time to Buy?

January 27th, 2011 by | Filed under residentialpropertyinvestment.

Best Time to Buy?

Whenever I am talking property with interested possible investors, the first question I am usually asked is “When is the best time to buy property?”

My answer is that today is a good day, tomorrow would be OK, but the best time to buy property was probably yesterday!

In my opinion, the best time to buy property is whenever you find the right deal and that can be anytime. I am always on the lookout for deals that meet my criteria and when I find one then that is the best time to buy.

The important thing is to always be ready for when the deal comes along. You need to be aware of the best mortgage rates available, your mortgage broker should have all your details on file, your solicitor needs to be aware of your need to act quickly and you need to know

Best Time to Buy?

Property buying is not a simple cut and dried matter and finding the best time to buy is almost as difficult to predict as finding the right property although you can “attract” the right property by doing your research thoroughly. When you have found the right property, it then follows that this becomes the best time to buy.

Remember that the most important thing in any property purchase is to set your property criteria up front and then do your research based on this criteria so that you are not jumping from one style of property to another and wasting time. By focussing clearly, you will find more properties matching your requirements and bringing the best time to buy closer

Best Time to Buy?

Finally, in my opinion, property is still a very good investment for the medium to long term (8-15 years) so worrying about the best time to buy is less important than determining your property strategy and following this. It is more important to start the work into developing your prospective property portfolio than worrying about the best time to buy!

I hope you find this information useful and that it will help you in developing your portfolio!

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