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Are you good enough to take a plunge into the property market again and increase your portfolio? Here are a few steps to find out if your decision is backed by pragmatism and not just born out of your emotion or a whim.

Even the very best property investment can fall flat on its faces if you are not diligent enough about the peripheral fields of enquiry. Often, it is not enough to learn about the town planning initiatives, possibility of capital growth and zoning restrictions. It is also important to sit back and ponder about the mortgage liability and the loan you plan to avail to take care of it. In addition, maintenance of your property is as important as buying it and sometimes, hiring even an efficient property manager cannot give you complete peace of mind.

Objective evaluation of our property portfolio is quintessential to maintaining a healthy one. Because we are so much involved in our portfolio and most of the times we cannot cut emotion out of the way, we falter…and it hits us where it hurts most. It is important to have an observer’s ‘vantage-point’ view and steer clear of those properties which give the feeling of hanging on to a sinking vessel.

With the Australian ‘aged’ population set to reach unprecedented mark and many of them aspiring to downsize, real estate investors will do well to pick the ‘baby boomer’ cue and emphasise on investments which are preferred by the aged downsizers.

Some of the insurance claims made by property investors over the last year have made insurance companies speechless and the situation warrants that investors (who are also landlords) pay great emphasis on the shape of their property at the time it is vacated by the previous tenant.

So you have made your choice! Does not matter whether it is your dream home or another feather in your property portfolio, a property purchase should not be deemed complete till the point of settlement.  I am a buyer’s agent and I know my position in the real estate world (quite proud of it, too) but settlement requires a conveyancer, above and beyond any other professional.