When Buying are we better off paying less or paying more for a property?

Sometimes, less is more – William Shakespeare

We live in an ‘I want more’ society and this can certainly be the case when buying and acquiring property for any given purchaser, whether through looking for a home or an investment.

However when acquiring more in the shape of a bricks and mortar asset when is less more? and when can more be less? Let’s look at an analogy, working less may provide you with more time with your family and more time to spend on things you are passionate about. How then do we apply this to property purchasing to ensure it has a positive affect?

Look to the desired outcome

Paying Less:

Look to pay less when a property may not hit all the marks for being move in ready but supersedes this by being in an excellent location, have significant land value, and provide strong capital growth. These properties can give more challenges for ultimate reward but for less outlay.

Paying More:

Look to pay more when a property has great presence, is in a tightly held area and exudes value. These properties tend to give less stress and more stability.

ABOUT THE KATHY WISE

I’m a Boutique Buyers Advocacy exclusively focused on buying residential, investment, commercial and rural property for buyers committed to purchasing exceptional real estate. Whether off or on the market Kathy Wise is focused on ensuring your property purchase is as informed and stress free as well as, saves time and money.

Photo: Luke Stackpoole