Sit back, relax… and plan your property portfolio
Sit back, relax… and plan your property portfolio
Posted on Tuesday, December 18 2012 at 8:59 AM
Are you going away for the Christmas break? Perhaps you’re staying at home, but still taking some time off? Either way, Christmas is a great time to relax with the family – and madly plan for 2013.
Gavin Hegney of
Hegney Property Group says it’s not uncommon to see a ‘seasonal jump’
post-Christmas as people plan their goals and ambitions.
“We all get
clouded with reading newspapers and stories,” he says.
“The good thing
about getting away is it allows for the things we want to achieve to come to
the surface.”
He warns people
not to waste the Christmas break and set time to work out “what’s really
important”. That could include paying down household debt and mortgages.
However, Patrick
Bright of EPS Property Search says investors should forget New Year’s
resolutions and instead form a seven-year plan.
“If you get the
plan right, it’s really powerful,” Bright says.
“Revisit your
plan every year and think long-term. People always underestimate what they can
achieve within three to five years, but overestimate what they can achieve
within 12 months.”
He says investors
should stick to blue-chip suburbs in 2013, which are safe and expected to
experience some capital growth, provided investors buy around the median price
range.
Hegney adds the
Perth and Sydney markets will probably perform next year, while the Melbourne
and Adelaide markets are still looking grim. Brisbane is a mixed bag, being
dragged down by the Gold Coast and the Sunshine Coast, he believes.
“Every market
goes in cycles but across the board, interest rates have been dropping. If they
drop again next year, it’s a good thing if it’s used to repay debt.”
Below are some
tips to think about over the Christmas break.
- Write
down your goals for 2013 and how you will achieve them. - Plan
a budget for 2013. - Think
about how you can benefit from interest rate drops – what will you use the
extra money for? - Don’t
plan for just the next 12 months, think about the next three to five years. - Pinpoint
a few suburbs you’d like to buy in, so you don’t get bogged down with too many
options. - Decide
what strategy you’d like to use – negative gearing or positive cash flow? - Spend
time with your family, they are probably the reason you invest in the first
place! - Look
back at 2012. What worked for you, what didn’t? - Assess
your current portfolio and how you could improve it. - Don’t
be too hard on yourself. It’s all about learning, growing and getting closer to
your dreams.
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
Recent articles:
Beware the lure of cheap fans this summer
Rate cuts designed to kick-start non-mining sectors
Victoria on the attack over land tax, stamp duty
Central Queensland an outperformer for rents
Sit back, relax… and plan your property portfolio
More than $5000 to be saved on housing construction from 2013
Leave a comment
Comments
Article source: http://feedproxy.google.com/~r/API_Property_News/~3/vnuiGZacvXc/sit-back-relax-and-plan-your-property-portfolio