Buying Property: Why its more about what you do not do

15 March 2021

In any amateur tennis match. Players inspired by watching the Australian Open will struggle to recreate the shots that led Novak to victory.

Despite knowing this, we try to win points through fast cross-court hits and risky half volleys. The secret to winning any amateur tennis match is through not making unenforced errors. The same idea can be applied to buying property.

Buying property is a risky and sometimes an overwhelming exercise. Buy the right property and you can be set up for life. Buy the wrong property and it can be a noose around your neck. By eliminating the “DON’Ts” you will be left with the “DOs”

With such secure property rights in Australia, no one should base the value of a property on its primary function as a household dwelling. Any property purchase should have the consideration of wealth creation as the main driving factor.

Understanding the interplay between characteristics in property then avoiding the “DON’Ts” can lead to a healthy capital gain which can be used in the next purchase.

Remember as in tennis, a one in a million wonder shot is worth the same as not making an unenforced error. You don’t have to buy the best property, you just must not make the mistake in buying the wrong property.

Alexander Gibson

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