Is Bargain Hunting a Good Idea?
We all love a good bargain, especially when it comes to property investing! The adrenaline rush that comes with negotiating a price that is below the market value and not to mention the bragging rights that come with it. But is this wise? Is bargain hunting a good idea? Because at the end of the day, let’s not lose sight of the main objective. We want to look for an investment grade asset that would add value to our property portfolio and we want to pay a fair price for it. If we do get it at a low price, well, that’s a bonus but do not let these ‘excitements’ that comes from buying a bargain affect your decision-making process as a property investor.
In this July 2016 issue of Your Investment Property Magazine, Empower Wealth’s Research Director, Jeremy Sheppard writes about risks of bargain hunting and the potential for being snared by investors own traps. He will be unpacking three different terms such as buying at a discount, buying a bargain and buying under market value. This includes finding out what exactly is the market value of a property as well as some of the suburbs that appear to be a bargain heaven.
Click on the image to start reading the article.