OK. I really appreciated the information of everyone on the forum last time. Much appreciated!
update: I decided to buy an apartment for my first investment
I have saved up the necessary deposit. Organised finance through a reputable mortgage broker and am pre-approved but now to find the place.............
Two main factors are making me cautious about my decision.
a) The Market: I have been looking for the last couple of months to no avail. The market is crazy. Places are selling the same day that they are listed on the internet, without inspection for generally 10%-20% more than the asking price.
b) The bull craze here: Everyone is spend, spend, spend. Buy, buy, buy. So many persons are getting 100% loans right now and recommend it. Seriously guys on the street are all talking about it like it was nothing. I was always told when your hairdressor says buy then be careful. That is what is going on.
Can anyone please share your comments, wisdom and experience as just hearing others thoughts and stories is very beneficial to me.
- I saw a financial planner (FP) last week who was very impressed with my personal finance plan (savings and expenditure) which I have created in excel. FP recommended managed funds.
* remember that I live in Australia