Seize the Day
You have been thinking about buying a property for some time, but you cannot bring yourself to take the first step. Although you know the benefits it will bring, you keep putting your decision off because you are afraid of the risks involved.
The truth is that risk is unavoidable, whether you express opinions, change jobs or undertake any activity where the outcome is not certain. Many of us have trouble facing risk for fear of exposing ourselves to discomfort or loss. By focusing on negatives we give ourselves a reason to avoid risk, allowing us to remain in our 'comfort zone', where nothing ever challenges so nothing can go wrong.
By trying to play it safe and keep the lows in check, we also rob ourselves of the opportunity to experience the highs. It is only by accepting life's challenges that we can grow and experience all the wonders that life has to offer - including owning a property!
The rules of risks
1. Clarify your goals
Write down your goals and the steps that are required to achieve them. Mark these steps on your calendar as a 'must do' and reward yourself each time you tick one off.
2. Improve the odds
Obtain as much information as possible to gain more control over the outcome. Know if you are getting a good deal by inspecting many properties in the suburb/s you want to buy into and documenting all relevant features. When you find a property you are serious about, ensure you organise a building and pest inspection.
3. Evaluate the alternatives
Sort out your choices by evaluating the pro's and con's of the situation. Consider possible alternatives that might provide a better solution.
4. Know yourself
Everyone's an expert when it comes to property, so it's important to be able to separate the good advice from the bad. Ask the right questions, use your own judgement and ensure that the action you take is in keeping with your finances, goals and priorities.
5. Leave your emotions at home
'Gut feelings' do not always lead to the best decisions if they are contrary to what your research, finances and common sense tell you. Lead with your head not your heart.
6. Make a commitment
Put yourself in the right 'head space' to stay motivated to achieve your end goal. The commitments and time constraints of daily life will always get in the way unless you tell yourself that you will find a way to make it happen.