What are the pros and cons of investing in a commercial property?
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What are your plans for Saturday morning? Sleeping off a small hangover, a morning jog or perhaps brunch with friends?
While these sound pretty tempting (well, not the hangover), if you’re a serious first home buyer you’ll be out inspecting properties.
Spring is now just days away and so too is the kick start of the ’unofficial’ property buying season.
Traditionally, activity in the property market starts to heat up as soon as the warmer months approach. And according to the experts, the range of properties up for sale is likely to pick up in the coming weeks.
For budding first home buyers the onset of spring means it’s time to get out and hit the pavement. If you want to truly understand the market you need to get out of the house and visit as many properties as you can.
Spend your Saturday mornings at open inspections as well as property auctions. Not only will you gain a greater appreciation of what properties are available in the local market – and the style of houses that might suit your budget – you’ll also get a feel for how auctions are undertaken.
Remember, experience and knowledge are essential to any good purchase and the only way to get this is to be on the front line.
Monique Sasson Wakelin, of Wakelin Property Advisory in Melbourne, says first home buyers need to spend at least three months exploring the market they want to buy in.
“You cannot do it from behind a computer screen.”
To really capitalise on your Saturday morning property hunt you need to plan it in advance. Keep on top of market listings and sign up for email alerts from real estate sites so that during the week you can highlight properties that take your interest, and you can map out your morning in line with inspection times.