Is it time to take the plunge?

As the features editor of Smart Property Investment, I speak to a lot of people who are either thinking about buying property, have bought property, or who, in some form, provide a professional service to help those buying property in their endeavours.

And one thing has recently become abundantly clear – a lot of aspiring property buyers take a long time to make the move. And it’s not because they can’t afford it. It’s because they’re too scared. Or they get too caught up thinking, rather than doing.

According to seasoned investor Virginia Bergman, a lot of people follow the market, but when it comes to making the move, they second guess themselves.

“A lot of people read and listen but they don’t take action.”

But according to Ms Bergman aspiring property buyers should really make their move as practicable as possible, particularly if they’re looking to build wealth through property.

“By taking action and purchasing something, that gets you on the right road.”

Philippe Brach, CEO of Multifocus says the first property purchase is always the hardest.

“The first property is the biggest hurdle; it’s about making that first jump.”

“It’s about getting it out of the way really, so that you can understand how it all works.”

So while it’s important to get your first property purchase right, if you’ve been spending a lot of time researching and you’re fairly sure you’re in the right position financially to be able to make a move, why not make the New Year your year?

Take the time over the Christmas break to set some goals and determine exactly what you need to do in order to make your purchase happen.

Think about what kind of property you’d like to buy, where you’d like to buy and what you’re hoping to achieve. And if you’re looking to invest with your partner or a family member or friend, take this time to discuss your plans together.

If you’re looking for some guidance on what your options are, organise an appointment with a mortgage broker. They can help you understand exactly what your borrowing capacity is and what your financing options are.

Even if you're not sure you're financially ready to purchase, by visiting a broker you'll be able to find out exactly how you can work towards making your property purchase happen.

Good things come to those who wait, but they are also gone for those who are too late. Make 2011 a year of action.