Buy Now or Buy Later !!

Viewing 5 posts - 1 through 5 (of 5 total)

BrettJC
Participant
@brettjc
Join Date: 2006
Post Count: 10
January 24, 2006 - 4:50 am
Hi Everyone,
I have been reading alot about the fall of property prices and the good and the bad effects of it and what is going to happen.
Everyone seems to have a different opinion as to whether it is best to buy now or to wait 6-12months before buying.
My question is should I be looking to buy now or should I hang out for a while until they hit rock bottom and if so how long?
Cheers,
Brett
Chris-Syd
Participant
@chris-syd
Join Date: 2003
Post Count: 75
January 25, 2006 - 6:57 am
The problem is that I don’t think anyone can pick when the bottom will be.
It may be now or could be in 2 years.
It’s up to you when you buy.
As it is definitly not the top of the boom it should be fine to buy at any time so long as you can handle the payments if the market continues to go down.
From the prices out there I think in some places like Sydney they are still going down but other places going up.
You need to do a lot of research and trust that.
Chris
All post are IMHO.
GelF
Member
@gelf
Join Date: 2005
Post Count: 17
January 25, 2006 - 8:54 am
Also depends on WHY you are buying and if you can afford it.
Are you after Cash Flow, Capital Gains or both?
Have you (even by pencil) ‘done the numbers’?
What will you do in a worst case?
ecatt
Member
@ecatt
Join Date: 2005
Post Count: 40
January 25, 2006 - 10:03 am
What I would give to know that!
My opinion… and this is only on the Sydney market, and I am NO expert, but I think there is a little way yet for prices to decrease.
I think there will be an interest rates rise, by mid year, which will push a few more people to sell… if there isnt though, the market will just stay flat I think for at least another year.
If you look to Perth, Darwin or some country areas…. ignore everything I have just written…
Property Passion
Member
@property-passion
Join Date: 2005
Post Count: 172
January 25, 2006 - 10:42 am
You really need to know your limits also, How much can you afford to spend ? How much can you borrow? When you know this it will help you deside where you can invest.
In regard to property prices, it might be an idea to have a look at some past trends as they are a good INDICATION of what you can expect in the future. Just do your reserch and you should be fine.
“It’s not how much money you make, It’s how you spend it that matters.”
Aspiring property developer
Giulio Taranto