Many people will come up with reasons of why they shouldn’t invest. Every year brings its own unique set of crises and lots of reasons not to invest.
But so many
times the question is asked when is the `right time to invest`? The general answer
When you can afford to do so, rather than trying to time the market.
The property market rarely has perfect conditions (high capital growth, low interest rates, high rental yields, plenty of property available; and, relative ease to borrow money from the bank). In addition, it is nearly impossible to accurately predict movements in the property market.
Most countries do not have a uniform market, but instead have numerous markets that operate differently. Even if property price growth for the year is forecast at zero, some properties might drop by 5-10 per cent, whilst others might rise by 5-10 per cent giving a net result of no growth.
Delaying your decision to invest can be costly. If you decide to wait for a potential drop in the market and it doesn’t happen, you could face more expensive property prices and higher interest rates, making it more unaffordable to invest.
If you can afford to invest in a property this year, don’t put off your decision to buy.