There are myths and lies in almost all aspect in our life that we have fallen for so long unconsciously. There are also lies in property investing that many people often fall for.
There are many reasons why people fall for to those lies. It can be because they are too lazy to search the fact or because of something else. However, it is important to remember that property business is about fact and valid data. You cannot reach success in your investment if you rely everything on myth and fall easily to lies.
Property investing lies you might have fallen for
A simple lie about property investing is that when everyone believes that house is a better investment than apartment. Generally, house is more valuable than apartment. It is not always the best investment because apartment is also capable to deliver substantial profit.
Location is often the main factor to determine which one is better investment. Here are other lies about property investing you should learn:
- Another lie is regarding to stereotyping property market. For example, people often talk about Australian property market, etc. the fact is, there is no such thing as ‘one’ property market. Every place operates with different demand and supply. Thus, stereotyping is not wise decision when you are investing in property. There are many factors related to location which can impact property’s value. Aside from location, price points and property type are also the factors that give impact significantly.
- Another lie is regarding to property clock which says that you should buy at the bottom of the property cycle. In property market, midnight represents the peak of hot market, while 6’o’clock represents the bottom of the cycle. However, it is not the factors which impact the success of your investing. Of course, you have chance to bargain when you choose to buy at the bottom. Buying property cheaply doesn’t guarantee you gain high profit. Buying the right property will be more impactful to do. Thus, it is wise to analyze the property market and don’t easily believe in false wisdom.
- Another lie is people say that properties value double in value every decade or so. However, it is not true. The fact is, not all property is created equal. Thus, you should not invest only because you believe and hope it will make a good investment and rise in value in a few years. Every place has different performance regarding to their property market and rising value. Finding Investment grade property that can outperform the average is more impactful to reach your success in investing.
You have to know as well about the things to anticipate before your property investment falls, so you’ll get the success you are deserved in property business.
Instead of relying on myth and lies, it is more important to rely more on professional advice as well as careful consideration and thorough research. Formulating an investment strategy is challenging. That is why you need to do it based on trusted information source and valid data. Thus, you can make wise decision and reach your goal. If you keep doing it well, you can even take your investment to another level.