Do you ever ask yourself, “is now a good time to buy property to make a financial profit?” I think that anytime can be a good time. What it depends on is the property. Some possible investments have been neglected, may need many repairs, or simply needed to be sold for one reason or another. That being said anytime can be a good time.
The real estate market moves in cycles meaning that it never stays too high or too low for a long. With a little research you can understand the real estate market in order to predict if now or later is a good time for you. The Real Estate investor that always makes money is the one who makes it a habit of buy and hold. While it is true that their money is tied up it is equally true that a sluggish market or slow economy does not do them any harm. They simply have to hold on to the property and eventually when the upside of the cycle comes around they can sell it off. In the meantime they can continue to make money by renting or leasing such property. “Buy and hold” investors are very patient and they usually have more experience watching the market than short-term investors. Those who choose the latter, are better at predicting the cycles. They know when they can expect peaks and valleys and they can plan their actions accordingly. They are much better at reading the signs and making the right buy or sell decision. Being active in the market for a long time also means that they have a thorough knowledge of what is available where, and they can move in and get working.
The Real Estate market is currently going through a sluggish period all over the world, apart from a few spots like Dubai and some locations in China (King, 2010). The bright side is because some properties are so low it may be the right time to buy! Remember, don’t wait too long if you are looking to buy ownership property instead of investment property then there is no point in looking at the market condition. Just go ahead and buy.