As always, the property market is a bit of a gamble as so many factors can change the profitability of your business. Brexit and Covid have been the latest bombs to explode onto the UK property market, but legislation and global financial trends will also seriously impact the price if your property. Sometimes it’s possible to feel that you are standing on a ledge not knowing whether to jump after all, who knows what is around the corner.
I remember in the house price crash back in 1990 and the devastating experience many people had. Then again in 2008, the prices dived. It is an overused truism that where there is a boom, a bust must follow but to me that says that you need to seize the opportunity when it arises and not sit back hoping for divine inspiration that will tell you when the moment is right. As all the unfortunates who lost a mint in the last two property crises will tell you, they waited too long to listen to the experts, buried their heads in the sand and hoped everything would continue the way it had been for so long.
Making money from property is a long-term strategy so you need to able to strike at the right time and in the right place. The property market now is buzzing, and we are all probably a bit surprised that the buzz continues after the end of the stamp duty holiday and the pandemic but there have always been national and global factors that have profoundly affected the market. Don’t keep waiting for what you feel is a perfect time to act, there never is a perfect time. So, I would say, listen to the experts, they know what they are talking about and GET CRACKING!