The costs of needing to buy and sell multiple properties

Selling a property always costs money. You may feel forced to sell your property too soon after it was purchased, before it has had time to grow sufficiently in value. The cost of doing this can be compounded further if you purchased the property at the top of a market cycle, and then sell during a downturn.

Unfortunately, a lot of wealth can be chewed up through selling and purchasing costs over a lifetime due to the lack of a Property Plan. This is grossly underrated in most property commentary and consumer awareness.

Failure to factor in your mid to long term goals at the time of purchase increases the risk that you may need to sell and purchase again in the short to mid-term. This is an especially expensive exercise when you add the cost of the lost opportunity, had you been able to hold the asset.

Property success criteria – holding quality real estate and mortgage strategy

A focused Mortgage Strategy will provide enhanced flexibility and opportunity should your plans or circumstances change down the track – allowing you to maximise your deductible interest and optimise your ability to hold property because your loans are well structured. Having your mortgage strategy in place is vital for success in combination with making each property decision cognisant of your long-term property goals.

David is the Founder and Managing Director of Property Planning Australia, author of ‘How to Succeed with Property to Create your Ideal Lifestyle’, co-author of ‘Property for Life – Using Property to Plan Your Financial Future’, co-host of the ‘Property Planner, Buyer and Professor Podcast’ and a widely-published media commentator. With more than 20 years of experience, David is passionate about educating others to make informed, and ultimately, more lucrative property investment decisions. David established Property Planning Australia in 2004 – with the vision to educate and empower Australians to make successful property, mortgage strategy and money management decisions.  Property Planning Australia’s operations have earned acclaim and national industry awards for its unique fusion of property planning, education, money management, mortgage strategy and risk management. All supported by multi award-winning customer service.