The “Why” Behind Your 2024 Plan

Was buying or selling a property on your resolution list this year? If yes, then let’s have a look at the options. 

It’s likely going to be another strong year for property prices in Queensland, largely fuelled

by lack of supply and the difficulty to source tradespeople and product to build properties. This took another setback recently with the annual storm season likely to have removed a few more properties, added a few more displaced people to the line of occupants needing housing and soaked up a few more tradies for the rebuilds. 

So for those looking to sell, you should do well – just ensure you give consideration to the sale proceeds. Will you reinvest, will you pay down debt or will you use the money in some other way that will benefit your circumstances? You must know your “why” when selling. If buying was on the resolution list, then you also need to know your “why” but also you need to add affordability. 

The people I have watched make money from property over the last three decades have always had a plan and the ability to hold if the market swings in the wrong direction. One of the great buying strategies is to purchase in an area you know well with the plan to hold long term. This will ensure you buy in the right part of an area, that your money will come from your long-term capital growth and that you won’t be affected by the ups and downs of the market.

Haesley Cush I This article is from the January 14th issue of The Courier Mail Digital Edition. To subscribe, visit https://www.couriermail.com.au/