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[Podcast] Should I buy, sell or hold Q&A day with Belinda Botzolis

[Podcast] Should I buy, sell or hold Q&A day with Belinda Botzolis
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What makes an A-grade Home?

That’s one of the questions we answer in today’s question-and-answer podcast with Belinda Botzolis. My Podcast 386 Question And Answer Day 01

We also answer the question of whether this is the right time to buy, sell, or hold – which is a question on the mind of many home buyers and investors.

Belinda has been a valuer for over 16 years and now brings her passion and years of experience to her role as one of the Property Strategists at Metropole, and I'm sure you'll find her answers insightful.

Sarah’s question:

"I feel I’ve missed the recent property boom. I’ve we own our own home with substantial equity but haven’t bought an investment property yet.

We were planning to do so early this year, but with all the news of rising interest rates, writing inflation, and concerns about a recession and a housing market crash, is this really the right time to get into the property market?"

First of all – don’t try to time the market

Don’t even bother speculating on the future of the market.

Instead, buy when you’re ready and not a minute sooner or later.

I’m sure you’ve heard stories about would-be property moguls who “just missed out” on buying up big a few years ago before we experienced a once-in-a-generation property boom in 2020-21

It’s tempting to be drawn in by this hype, but the fact remains that the only really good time to buy a property is when you are ready.

Ask yourself, can you really afford it?

  • Have you considered your current financial circumstances and the likely (and unlikely, but possible) scenarios you could face down the track?
  • Have you planned for things like unpaid maternity leave or school fees?
  • What about unexpected costs, like major surgery or a lengthy period out of work?
  • Don’t forget to factor in at least a few more rises in interest rates.

Ask yourself: Is it really the right time for you to buy?

  • This question is not just about money; your personal life should also be a key driver in the decision-making process.
  • Don't let short-term influences get in the way.
  • If you are buying an investment property, then remember it's a long-term game. Property Market
  • It doesn't really matter what the market is doing because you're not buying "the market."
  • The type of property that you will hold onto for the long-term and look back on in five years’ time and say, "Wasn't that a great purchase - gee, I bought it cheaply."

The bottom line:

Due to market conditions, don't make this massive decision, which could impact your financial position for years to come.

Consider your own personal budget, goals, future plans, and risk profile, and then contemplate whether buying a property now makes sense.

And base your decision on a strategic property plan – of course, that’s what we do with Metropole – so that you don’t decide on emotions.

Johnathan’s Question:

"Another question that was recently left on our property update website from Jonathan was” “Thanks for all the great content, Michael, and I love your podcast. You often mentioned A-grade homes – what do you mean by A-grade home, and how do I know what to look for?”

So, what makes an A grade home?

A-grade properties don’t come with a label on the door. They aren’t always what you think they are.

When looking for A-grade homes, you have to avoid confirmation bias – when you think you know where you want to end up, you do research that leads you to that place.

That’s not real research – that’s making things fit your boxes.

Qualities of A-grade homes

  • Well-built Home Buyers
  • In great condition for its age
  • Lots of possibilities for renovation
  • Scarcity
  • The right part of the house facing the sun
  • Wide appeal to a wide demographic of owner-occupiers
  • Privacy
  • Multiple people wanting to buy
  • Owners are not forced to sell

4 Types of Locations:

  • Discretionary locations: A-grade homes can be found here Location
  • Aspirational locations: A-grade homes can be found here
  • Affordable locations: B-grade homes can be found here, but homes here will often underperform
  • Last choice locations: C & D homes will be found here

Links and Resources:

Michael Yardney

Belinda Botzolis – Senior Property Strategist Metropole

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

Get your bundle of free eBooks and reports at www.PodcastBonus.com.au

Some of our favourite quotes from the show:

“Don’t try and time the property market.” – Michael Yardney

“A grade homes will always sell well in any market because of their lack of supply but the deep demand for this type of property”  – Michael Yardney

“Currently, I’d say less than 4% of properties on the market are what I’d call A-grade or investment-grade.” – Michael Yardney

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.


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