As you would already be aware, buying a property is a big decision.
Unless you’re a seasoned investor or career developer, property isn’t usually bought regularly, and unlike buying something of a much lower value, you can’t just return it and get a refund if you don’t like what you bought.
This is why careful consideration and proper planning must be made to ensure your decision is as calculated and strategic as possible.
You really need to get involved in your finances to see not just how you’re going to pay the upfront costs and buy the property, but also how you plan to pay for the ongoing costs of property ownership.
Property isn’t cheap and mistakes can be costly.
So, if you can, put yourself in a better position to succeed and firstly get yourself a mentor or at least someone who knows what they’re doing when it comes to successfully financing a property.
Find someone that’s way ahead in their own property journey that can help you avoid any potential mistakes they’re either aware of, or have made themselves.
Hopefully, they’ve learnt a thing or two along the way that could really benefit you.
This alone can save you countless amounts of time, effort, energy and money and really is something worth considering.
Next, keep in mind, when making a plan, like any plan, you’re just setting up the framework.
No first plan will be the final plan.
Treat it like the beginning of your plan and construct it in a way that allows for the continuous and inevitable changes and variations you’ll need to make to it along the way.
It doesn’t need to be perfect, but to get started, you need to start somewhere.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
