Over the years residential property has proven to be one of Australia's best performing investments.
Buying property is the biggest investment decision most people make in their lives. Yet surprisingly, many Australians buy property with little or no investigation into the factors that drive individual property performance.
Unfortunately, in the digital age misinformation is prolific and the cause of many poor investment decisions. Even well trusted beliefs can prove misleading for the most experienced homebuyers and investors.
However, questioning the validity of property clichés and commonly held assumptions can help both buyers and sellers make better informed decisions when it comes to investing for their future.
Cliche 1 of 9 - Location, Location, Location
"Location, location, location", possibly the most well-known property cliche, is often quoted as the quintessential factor when it comes to property selection. But, what many buyers fail to realise is that location is about far more than just the right suburb or even the right street; it is as specific as the lot number or position in a block of units.While neighbouring properties may appear similar in many ways, factors such as aspect, orientation, floor plan and levels of natural light, not to mention security, all have an important impact on property value beyond the underlying land value.
Click through to Cliche 2 of 9 - Hot Spots