David Koch's top five lessons from past property booms
Financial commentator and breakfast television host David Kochie says buyers should learn from previous booms if they want to take advantage of a potential property boom now.
He says rising house prices are indicative of a patchy recovery rather than a price bubble.
He says to be careful of short term statistics but says if there is to be a property boom then buyers should be prepared.
“In a nutshell, the residential property market is patchy, it is recovering on the back of low interest rates and specific regions (such as Sydney) are looking strong,” he wrote for News Limited.
“But if the key property indicators continue to turn up and a solid trend is established in your region, it's worth brushing up on the best strategies to profit from a property boom.
He gave News Limited readers his top five lessons learned from past booms.
- Adjust your expectations.
- You can't time the market exactly.
- Don't treat your home like a piggy bank and load up other debt on it.
- Do your own research.
- Get the financing right.
