An auction works quite contrarily to a private treaty. Here, you are face to face with a galaxy of competitors. Their goals may vary; someone may be looking for a home to reside and another for an investment and still another for a ‘quick flip’ but they are all out there to buy.
It is crucial to know as much about the auction process as you possibly can. Let’s take a look.
You have property development in mind and you think you can go the whole distance single-handedly. Think again! It is clearly a team work and unless you have professionals to partner you at each stage, you are likely to falter sooner or later. Even if you succeed, the results will be far from positive. And who are these professionals I am talking about? Let us take a look.
Australians are falling woefully short of putting up a decent retirement nest egg. It is a sorry statement on our times that about half the Baby Boomers may have to work well into their 70’s to honour their retirement commitments.
Superannuation may not be enough and anyway we are managing far too low (men only about $85,000 and women $58,000 wherein something like $350,000 is required to eke out a decent post-retirement living). Where does this bring us?
In areas where the property market has not peaked yet, you can still witness something like the traditional buyer’s market. But to compensate for it and manage the equilibrium there are many areas registering a seller’s market, too. The true investing craft lies in wading through such market conditions. These are places where you will be forced to raise your bid even before you know you did.
First time investors haven’t felt too good in recent times. Their contribution to the Australian real estate has shrunk and the foreign investors have all but elbowed them out of the game. The crux question is- whether their sulk is justified or are they themselves responsible for it?
Australians stand to save a whole lot of money (and I mean real cash) if they can be more heedful towards the way they treat their tax returns. Australians cannot shy away from their housing debt and using the tax returns to service their debt can be one brilliant strategy.
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