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The new year brought with it the opportunity to set new goals for your property investment journey – but how many have you actually followed through with?
Blogger: Nidal Rasheed, managing director, Silvertail Property Group
At the start of each year, millions of people make the resolution to improve a particular aspect of their lives, whether it be their health, relationships or financial situation. Now, at the end of March, how many people do you think have actually taken action?
Once the holiday season winds down and we settle back into our daily routines, it can be easy to find ourselves slipping back into old habits. Research has found that two in every three people fail to stick to their New Year’s resolutions. The first few months are crucial when starting a New Year’s resolution, with 80 per cent of us failing in the first three months.
If buying your first investment property was one of your resolutions, here are four simple tips to help keep you on track in 2016:
1. Share your goals
Studies have shown that by sharing your goals with someone you significantly increase your likelihood of achieving them. So tell your friends, peers and family about your financial objectives – they can help to hold you accountable.
2. Be realistic
Set yourself SMART goals (Smart, Measurable, Achievable, Realistic and Time-bound) and form a simple plan to ensure you stick to them. By following this structure and creating a mix between long- and short-term goals, you will be able to successfully tick things off your list, stay motivated and work towards the bigger goals.
3. Make a plan
If you are serious about property investment and working towards financial freedom, it’s time to make a plan. Say to yourself, ‘This is what I want to do – I’m going to purchase an investment property’, and from there you need to understand the smaller steps to follow.
4. Look for help
If you’re unclear where to start, a property investment adviser can provide quality unbiased property solutions. Advisers use their expertise and knowledge to empower clients to make informed decisions so they can achieve their property investment goals, from buying their first home to being able to create wealth and a passive income from property investment.
There are some exciting opportunities in the property market and it doesn’t cost anything to have a chat with an expert in the field. You can only benefit from sitting down with someone who can guide you in the right direction and work with you.