Mistakes to Avoid When Investing in Real Estate

Real estate investment is a great way to get long term returns. But did you know that there are some mistakes that investors make that can make a promising investment turn sour? Being an astute investor, you have to be aware of potential pitfalls that you may face when investing in property and how to take adequate measures to ensure that you are protected. The best decision you can make is to start by using the services of a qualified property valuer. At Independent Property Valuations we specialise in property valuations and advice in relation to securing the right property at the right price. We value property across the Sydney Metropolitan area as well as the Blue Mountains, Southern Highlands and the Central Coast and can advise on values, trends and current conditions in the market. We can provide you with the right advice to help you invest in a property that is right for you.

To help you avoid making mistakes in your property investment, read the following tips. 

1. Inadequate knowledge 

These days, it seems like everyone is a real estate guru. But just how much do you actually know about the market and the type of properties that you should consider investing in? Many people will do a lot of internet research and feel like they have enough knowledge in their arsenal and yet they make losses. This is because it takes more than just a few Google pages to make you an expert in real estate investment. At Independent Property Valuations, we have many years of experience and we are constantly monitoring the market so that we are able to give you good real estate investment ideas.

2. Inadequate planning 

As the old adage goes, failing to plan is planning to fail. Before you buy an investment property, you need to have a solid strategy in place.  Break down your property goals into small steps and you can use these to monitor your progress. Many investors overlook this crucial step and end up making losses. If you choose to work with Independent Property Valuations we can provide relevant advice to help you make these goals work. 

3. Too much, too soon

Real estate investment is not always a get rich quick scheme. Many of our clients have owned real estate for decades and their philosophy is ‘buy and hold’.   Investors usually make the mistake of looking for major returns on investment too soon. Conversely, they commonly lose their enthusiasm when there is a fall in the market and sell at a loss.  In real estate investment, you need patience. Keep it in mind that all great things take time and if a property looks too good to be true it often is. 

Knowing the value of an investment property is useful for any investor. At Independent Property Valuations we can help you with the right property advice at the start so that you can be confident in your purchase. Contact us today!