Many of my friends, acquaintances and social network are constantly asking me the same questions.
Should I buy now? or Should I wait?
My answer is simple, wait for what?
We have many cycles throughout different sectors here in Australia. No one has the “Crystal Ball” to be exact but speak to the older generation.
They have seen it all. Let’s talk about Real Estate or Property for example. The best advice given in property is to buy and hold for a long time.
The property market over the last 3 or 4 decades has doubled, then doubled, then doubled again and again… (my grandparents paid mere thousands for their first home, my parents built a brand new home on a quarter acre block for under $100k and there are plenty of other stories out there)
Some people like the short term turnover and some people get lucky in regards to timing. Even myself for that matter. I purchased a PPOR with a 10-15 year goal and within 4 years had nearly doubled my return on investment.
The safer bet is to have long term vision and to expect a few rises and bumps along the way.
So instead of trying to time it and be exact in your property transactions, why not buy your perfect investment and wait whilst you are the owner rather than trying to find a perfect solution. After all, the one that you don’t buy will be bought by someone else who will reap the benefits of Capital Growth whilst you are out still fossicking around looking for the ideal property.