When you’re planning to buy a home or investment property there is often a very real problem of information overload.
You mention your plan to a few people and then the “property buying experts” come out of the woodwork, all offering their well intentioned advice. Some may have good valuable advice. Some might have gloom and doom, some might be outdated or simply wrong.
Whilst it’s great to tell people your plans, particularly for accountability reasons, you really need to have strong filters in place and small posse of trusted “advisers”. These advisers should meet some basic criteria of:
* being an real estate or lending industry professional, or
* having bought a property within the last 3 years, or
* refinanced their mortgage within the last 3 years.
Taking advice from mum or dad or your boss who hasn’t bought a property this century probably won’t be the best source of accurate, up to date information.
The “expert” who has read everything about the property market but hasn’t actually bought anything yet, won’t be particularly supportive or inspiring either.
Aussies love talking about property. Everyone knows something or has an opinion – good or bad, right or wrong. Your job is to filter out the noise, hone in on the voices you want to listen to, find your team of trusted advisers and make it happen.
Do your own research, talk to friends and colleagues with recent experience of buying or arranging finance, find a great mortgage broker, make friends with real estate agents.
Turn down the volume on some, turn up the volume on the voices you want to hear – not just because they’re telling you what you want to hear but because they’re sharing information that is valuable.
It’s like most things in life. Surround yourself with the people who will help you achieve your goals.
That’s the best piece of advice I can give you. I’m also pretty good at helping people #buythathouse. So if that’s your goal, send me a message.
