To buy or not to buy

To buy or not to buy

What are your views on whether to buy now or not?

 

For me there is rarely a right or wrong time to buy - it depends on the deal and how it fits with your strategy. That said, I would not want to be pushing my financial limits in the current climate..

 

Will there be a crash in October

 

No, it had to be rescheduled for November the 13th.

 

October crashes are share market aren't they. So a flight to property?

The thing that would create a property crash in Oct ( Oct is now!! ) would be a rapid rise in interest rates. Or an earthquake.

 

There is only one correct answer. Buy when you can get a loan and can afford to buy.

Its been echoed 10000x times on here and on other property forums and chats. There are ppl still waiting for a crash for 20+ or 30+ years. They are still waiting today.

DO NOT be one of them.

 

LOL the 2021 Melbourne earthquake didn’t put a brakes on the price growth

 

What he/she said

 

Most of us seem to know that one (or several) person(s) who are waiting for the crash.

My mate has over 20 years invested into "waiting", the same house he swore wasn't worth "that much" has sold 3 times and then been developed into 4 townhouses, each has since sold for 1.6 times the value of the original house 20 years ago !

 

Buy when you are ready - there can be good deals even in a hot market. Just don’t be the one who pays $100k+ above reserve at an auction.

 

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Price Point:-700K

Qld:Camp Hill, MGE, RS -all above
WA:Kardiniya and surrounding -all above

Time to look into SA?

I do not consider being FOMO for me but put an offer in one SA prop top end of range but many offers much more higher.....time to recalibrate

 

After the massive October crash, why not buy now? Prices are a bargain - they're only 150% up from pre-pandemic levels.

 

Deciding not to buy because you think the market will crash, is what FA Hayek would have called "the pretense of knowledge".

 

no comments on market crash

my post is merely to bounce ideas/suggestion on where to buy as you can see the areas I was looking are out of my price point at this stage and Yes, there are posts around Ipswich or TH in north of Bris, Units in Syd, and of course Rockingham area in WA.

I would like to buy a quality product no reno for long term

 

I love it when just a few words can articulate more than I could with 10 sentences. Spot on.

 

best time to buy was yesterday, worst time will be tomorrow

 

I agree with the comments but when we can see it is seller's market and one prop is getting plenty attention and multiple offers then why it is wrong to wait and keep saving bcoz once interest rate goes up or borders open (traveling international) and maximised serviceability will bring stock to the market?

I am sharing this to get a better control on my strategy as we have just sold and might have got $50K more than few months ago thetefore if we be buying now will pay higher too

Logal, perth, adelaide threads are showing that $350K props now $450K due to demand vs supply....

 

all good points... but at the end of the day do you really think that prices will go down... I doubt

 

Perhaps become stable?