Everyone is different. Where you are in your life right now—your circumstances and commitments—will be different from everybody else. Likewise, your property investment goals may be different, from wanting to secure a comfortable retirement income, to becoming a professional property investor. If you’re to achieve them, they have to be relevant and appropriate to your situation at the moment.
Here are the points to consider when setting out on your property investment journey:
how much funding do you have available or could you acquire? You need to create a balance sheet setting out your assets and liabilities. The resulting equity will determine the level of finance you need, and ultimately how much you can afford to pay for property. The amount of money you can borrow will also be influenced by your previous financial history and credit record. Clearly, the more money you have, the more expensive properties you can obtain, but this may not be the best strategy for you.