upper hutt real estate

Hi folks,

Many homebuyers think that if they put off buying a property for a bit longer, they are likely to secure themselves a 'bargain' as the market declines but what happens if the market is stable?

While bargains do exist, of course, for people who are in the right place at the right time, there are often more people who miss out by waiting. Most homebuyers buy their family home and live in it for, on average, seven to ten years. And when we’re looking at averages, the property market continues, in the big picture, to rise. Based on historical property cycles, property may undergo periods of static growth and periods of galloping growth, but on average, well-located, well-selected residential property doubles in value every ten years or so. Certainly, if we could always pick the lowest time to buy and the highest time to sell we would do very well indeed, but the only buyers who need worry about the immediate state of the market are the real estate speculators who wish to buy then sell again straight away, or those who are too highly geared or who have entered into unrealistic amounts of debt. For everyone else, the chances of strong long-term capital gain are virtually assured, provided they buy well-selected property in well-selected locations.

Purchasers who wait too long for a ‘bargain’ or the ‘lowest point of the market’ often only realise that the lowest point has already been reached once they can look back on it with the 20/20 vision of hindsight.

If you are thinking of selling your home or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email steve@steveslicker.com alternately fill in your details here on my website.

Kind regards, Steve Slicker (04) 212 6787 0275 661 949

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