Debunking Property Investment Myths
Due to the volatility of the property market, there are always plenty of rumours and myths flying around regarding the numerous factors at play when it comes to property investment. Understanding that many of these are nothing more than myths will allow you to get a better idea of the overall housing market and hopefully make the right investment decisions to meet your property goals.
Below are some of the most common property investment myths our experts at Hadleigh Estate Agents are frequently queried about.
There’s No Money in Property Anymore
As long as people need a roof above their heads, there will always be money in property. While it's not as accessible an option for many as it may have been a few years ago, there are still a great number of people who make owning a home one of their goals in life.
It can be said that the market has slowed down meaning that there is probably less money than was present several decades ago. Property is often one of the most reliable and stable investments you can get your hands on. Being financially savvy and making the most of the opportunities available to you will ensure that you make the most of your property investment.
You Need Money to Invest in Property
This is an interesting myth since it is fundamentally true. Where it becomes a myth is in the amount that people believe you actually need to invest in property. There are multiple financial strategies available through which you can maximise your available money or borrow the required sum having met a deposit. Of course, huge stacks of money do help with property investment but it’s a much more affordable option to regular people than you might initially believe.
The government has implemented several additional low-rate mortgage products across the last few years that look to help with property purchases by allowing for the borrowing of large proportions of a property’s value. This could help to make property investment an affordable solution even with only small savings present.
Property Prices Always Rise
As is the case with any investment, property prices don’t always just rise. Overall, if charted across the last few years, there has definitely been an upturn but this doesn’t mean that there always will be. Even during the last few years of growth, there have been periods of stagnation and even times when value dropped. Property investments are best compared to investment plans, financial vehicles that generally turn a profit but may experience turbulence and sudden drops along the way.
Contact Hadleigh Estate Agents for Properties to Buy & Rent
If you’re looking for a property to buy or rent in Birmingham, please get in touch with our property experts at Hadleigh Estate Agents. We are market leaders in the Harborne and Edgbaston areas.
Our friendly, experienced, and qualified team of estate and letting agents like to take the time to understand your needs to find out exactly what you’re looking for in a purchase or rent property.
Get in touch with us on 0121 427 1213 or you can send us an email here.