We have all heard the stories about how people were just walking past a property where an auction was happening and then all of sudden they are the highest bidder. Some of us are not so lucky though, especially with the limited properties currently on the market. Since I have been in this industry, I have never seen the process of purchasing a property drawn out this long. Usually either no one wants to buy – which is when interest rates are high or people are flocking to buy property like in 2016/2017, where people were outbidding themselves.

We have seen a shift in the information available now around property, which is great as it gives people plenty of information to review, however, I think it also then allows the buyer to over-analyze the property, which sometimes stalls the decision making the process. When researching our next holiday, we spend plenty of time researching hotels, places to go, flights etc. When purchasing a property, we sometimes make a decision based on the 15 mins we spent at the open home.

To help our clients have the upper hand we provide all our clients with RP Data property reports, however, this report should only be one of the forms of research you do. Majority of the research should be done at a macro and micro level and then around the specific property attributes. This takes time, actually 100 hours, and it could take longer if you don’t know what to look for. I did write about some of the pre-purchase checks you can do a few months back, however, I think the process needs to be much deeper to ensure you buy the right property now and in the future.

We surround ourselves with professionals all the time that can help our clients. Our property professionals do all the research, know the selling real estate agents on a social level, know what to look for when researching a property but the main thing is they will save you money or ensure you don’t spend too much. Some of the criteria they look at

Area X-Ray™ analysis scores each suburb’s investment potential against specific criteria like developments, infrastructure, transport, vacancy rates, rental yield and more.

Stringent Property Assessment – We stringently assess every prospective investment property for you — in fact, only one in 20 make the cut.

53Invest™ objectively compares the suitability of properties across 53 key indicators, including macro and micro demand factors, supply-side drivers and financial ratios.

The research could make your next property purchase thousands of dollars cheaper and allow you to pick the cream of the crop. Just like you engage with me for your finances and allow me to offer you options and finance strategies, I think you should do the same when purchasing the biggest asset of your life, your home.

Get your facts first, then you can distort them as you please. Mark Twain

Thank you for reading