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For many years now, I have suspected that I may well suffer from a very modern affliction. In fact, I think it’s so contemporary that no-one – not even drug companies which is highly unusual – have classified it yet. You see, I think I am suffering from OPSA – or Online Property Search Addiction.
Looking back, I think the first signs that I had developed OPSA were about seven years ago which also happened to coincide with a rather major event in my life. It also corresponded with the start of my employment at the REIQ, but I believe that’s just a happy accident rather than a situation that allows me to feed my OPSA and get paid at the same time too, which you have to admit is really a rather fabulous state of affairs to be in.
But the initial stages of OPSA were developed back in early 2007 when I was starting to search for my first home.  As is quite usual for a first-time property hunter, I spent hours trawling online for potential purchases before bothering to actually inspect any in real life.
Back then, though, my budget was very limited and I was also cognisant via working at the REIQ that the Brisbane, actually the majority of the Queensland, market was on cusp of a very serious up-turn. Needless to say I knew that time was of the essence.
Alas, it appears my reading of the market was known by most other buyers as well, because at every open home I turned up too there were queues, yep I said queues, of people waiting for the inspection to begin. Many potential first-homes were sold overnight.  Indeed many were gone before I’d even had a chance to ring the agent.
Given these extreme circumstances, my OPSA grew rapidly as I found myself searching online for more and more properties that might be suitable, let alone still available.
Then a change in circumstances meant my potential budget increased significantly thanks to my brother deciding he wanted in on the first home buyer action as well.
What that meant though was that I was soon exposed to a whole new variety of properties to merrily search through – I must admit my OPSA was very happy about that turn of events indeed.
Within a few weeks, we had finally found our first home but between that time and my next purchase some five years later I must admit my OPSA never really went away.
I would often find myself searching through online listings just for fun – even properties that were far too big or too small and especially those that I could never afford to buy unless I married Bill Gates.
But the reason why today I am admitting so publicly that I have OPSA, after seven long years of kind of hiding it from most people, is that over the last day or two I have noticed that it has reared its head most ferociously and the timing of such a re-emergence is curious to say the very least.
On Tuesday, July 16, my off-the-plan investment property finally settled some 18 months after I signed the contract for its purchase.
I must admit it has been an interesting, sometimes overwhelming, experience and the first I have completed on my own so my stress levels have been very unhelpful especially over the last two or so months.
I have said to all of my friends over recent weeks: “That’s it. I’m not interested in buying another property ever again” but I think I was actually trying to convince myself and not really them. And then, I found myself – almost daze-like – back on <a href="https://www.reiq.com/">reiq.com</a> searching for that elusive cottage, or perhaps even a two-bed apartment overlooking the river and I knew the time had at last arrived to come clean about my affliction.
I’m not too sure how I am supposed to treat OPSA (since it doesn’t actually exist) short of cutting off my access to any type of technology whatsoever and that’s really not an option at all.
No, what I think I’ll do after today’s momentous admission is recognise that OPSA doesn’t necessarily have to be a bad thing.
In fact, I think it allows us to daydream about the future, and to work steadily towards that Great Australian Dream of home ownership – perhaps just multiplied by two or maybe three.
Nicola McDougall is the <a href="https://reiqblog.com/" target="_blank" rel="nofollow">REIQ</a>’s executive manager of corporate affairs.
Image courtesy of Ronin McR and has been digitally altered.
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My name is Nicola, and I am an online property search addict: Nicola McDougall

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What would a city look like if you got to rebuild it from scratch? And how would you incorporate more than 100,000 ideas from the people who matter the most – the stoic individuals who continue to call Christchurch home?
During a holiday visit to my hometown of Christchurch in late April, I sat down with the man charged with rebuilding New Zealand’s second largest city and discovered a city on the cusp of rebirth.
More than two years before, however, I remember standing in the lunch-room of the REIQ’s Brisbane office on 22 February 2011 and watching as the Christchurch Cathedral crumbled on live television right before my very eyes.
Just six weeks after the Queensland floods and Cyclone Yasi, another natural disaster – this time earthquake – had befallen my life and I watched through tears and an almost overwhelming sense of fear for my family and friends as the place I used to call home was almost wiped from the map.
More than two years – and thousands of after-shocks – later, Christchurch continues to be mostly unrecognisable. One in two roads in the entire Canterbury province reportedly needs repairing so patience is a virtue that is an absolute necessity for anyone driving around the region. In fact, orange witches-hats and mesh fences are ubiquitous.
The central city has, for the most part, been reopened but it is an eerie experience to drive through what was once a thriving CBD populated by thousands of people. More than 1,000 buildings are being demolished in the central city and for someone like me, who remembers clearly the way it used to be, that means I often found myself rather discombobulated with no sense of where I was at all. Indeed, sometimes it felt like I was driving on the moon.
But it is not the moon, it is New Zealand’s second largest city and it must rise from the ashes for the sake of the country’s economy, and for the sake of hundreds of thousands of courageous souls who are waiting and watching for their home to be reborn.
Warwick Isaacs is the man whose shoulders this heavy burden now rests but to him it’s not a burden it’s a privilege. He heads up the Christchurch Central Development Unit (CCDU), a government-created unit, charged with rebuilding the city between the four avenues which have long defined the inner-city precinct of Christchurch.
For a man with such a task ahead of him, he is a relaxed, easy-going individual, who was also happy to sit down with an ex-Kiwi from across the ditch to explain the unique opportunity now available to civic leaders, developers and residents alike.
“The devastation by the earthquake has been quite extreme in the central city,” he says as we sit in the CCDU offices located in one of the few commercial buildings to survive the 2011 earthquake.
“If you look at the central city it’s almost like someone has pointed an arrow and said: ‘That’s where we want to hit’ because that’s the impact.
“Between these four avenues there is in excess of 1,000 buildings being demolished and the very heart as you would have seen, the landscape is almost back to Ground Zero.
“What the recovery plan is about is, there were over 100,000 submissions from people in Canterbury and businesses and people from afar as well, that went to the council process – it was called Share an Idea.
“New thinking has come to Christchurch. There are opportunities the earthquakes have given us – it’s been a tragic thing – but there are opportunities to reinvigorate and revitalise, and set the tone for Christchurch as a future city rather than a city that’s still evolving from its past heritage.”
Nicola McDougall is the <a href="https://reiqblog.com/" target="_blank" rel="nofollow">REIQ</a>’s executive manager of corporate affairs.
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What would it take to rebuild a city from scratch? The Christchurch experience: Nicola McDougall

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We’ve long been told that when it comes to selling your home, less is in fact more. That is, your fascination with the colour orange may help you feel all warm and fuzzy every time you open the front door but is probably not everyone’s idea of schmick interior design.
Personally I love orange, and red, and any other bright colour that screams look at me, look at me. I have also, as yet, not attempted to sell said property so the proof may well be in the pudding or hopefully any future would-be buyer will also be a tad colour-blind.
A number of news stories of late, however, appear to show that the tide is turning, and <a target="_blank" href="/property-observer">what is old is actually becoming new and fashionable again</a>.
A movement which appears to me to be in-line with the current fascination of all things 50s, including beatnik fashion, is the increasing popularity of original properties from times gone by – sans renovation. Indeed, it appears the more original the better.
And according to a recent story about a property in <a href="https://www.heraldsun.com.au/news/national/real-estate-agents-reporting-strong-interest-in-homes-with-original-features/story-fnii5v70-1226650491793" target="_blank">Brisbane,</a> demand for retro properties is definitely on the rise.
Jerri Harrison-Taylor, from RE/MAX Executives in Coorparoo, said she had been swamped with phone calls since the latest retro offering – a brick cavity house in Tarragindi – was listed. It sold in a week.
And one of the potential buyers said it was the “awesome” white-and-mint green kitchen that was one its main selling features. I completely agree.
I must admit I have long desired a property with black and white tiled floors and a claw bath and a servant for that matter.
My current abode has fabulous original parquetry floors which, just like the colour orange, make me smile every time I get home from work. Who knew that flooring could make you so damn happy? Or perhaps I am a little odd or just easily pleased.
I’ve always thought that part of the beauty of the Brisbane property market is its abundance of homes from yesteryear, especially within the inner-city precinct. And a new property listing on <a href="https://www.reiq.com/House/for-sale/annerley/2504310.aspx" target="_blank">reiq.com </a>for a home in Annerley certainly ticks all of the boxes of retro-cool. In fact, the kitchen goes even one better than I could possibly imagine and has blue-and-white tiled floors, complete with a very fetching red-trim.
Perhaps this renewed fascination with our architectural history has something to do with the current fast-pace of modern life or maybe it’s recognition of the superb workmanship that was part and parcel of homes of a particular bygone era.
Either way I believe your home should reflect your personality and what makes you smile – regardless of supposedly acceptable notions of contemporary colour palates. I reckon you worry about its saleability much later when, and a very big if, you ever decide to sell.
Nicola McDougall is the <a href="https://reiqblog.com/" target="_blank">REIQ</a>’s executive manager of corporate affairs.
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Your home should reflect your personality: Nicola McDougall

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Some people are good at home renovations, some are not. I am squarely in the latter category. I have never bought a house that needed rescuing, and the thought of all of the elbow grease required to turn a shack into a superstar gives me heart palpitations and night sweats.
Both of the properties I have bought have been nearly new or brand, spanking new. The most involved I’ve ever gotten with interior design is picking the colour scheme for my new apartment, which also was the first time I’d ever said “I’ll go for the beige” in my life.
My first property was only five years old when I bought it and didn’t really need much in the way of a face-lift. It did need new curtains downstairs, though, and for five long years I looked at, and untangled, those vertical blinds and promised myself I would invest in some fabulous new window coverings, perhaps red with big white spots, sometime very soon. When I rented that property out, those vertical blinds were still there and I was secretly glad that I hadn’t let my penchant for rainbow colours turn away hundreds of prospective tenants.
The problem is my aim for 2013 is to buy a small worker’s cottage and, on my budget, that will mean renovations. I trawl the listings on reiq.com and often see the “perfect” cottage, jam-packed with character and within my budget too, but then I see the internal pics and the need for a new kitchen, bathroom, floorboards, roof, entry stairs, garden and letterbox, and I feel completely and utterly defeated before I’ve even really begun. Perhaps I need to marry a builder? Or better yet an architect who used to be a builder.
Either way, when (or a very big if) I eventually buy my little fairy cottage, I will do my utmost not to overcapitalise. To start with I will follow some of these basic REIQ guidelines to prevent just such an eventuality:
<ol>
<li>Overcapitalisation occurs when an owner spends more money on improving a property than the profit those improvements could be expected to bring if the property were sold, which would be bad;</li>
<li>The REIQ recommends research and a simple formula to minimise the risk of overcapitalising, while adding value and valuable living space;</li>
<li>First of all, note the price you paid for the property, add the expected total cost of the renovations, add another 5% for landscaping, and you have the cost of your house and improvements;</li>
<li>Let’s say the total cost is $450,000. Next look at houses in your street and check real estate ads on reiq.com featuring nearby homes;</li>
<li>If there are no homes valued as high as the $450,000 mark, then you are probably overcapitalising. Only proceed with the renovations if you plan to live there for the next eight to 10 years, or if you’re confident your suburb will be the next to shine;</li>
<li>While it’s an overused real estate phrase, always remember that choosing ‘the worst house in the best street’ is clever buying for those wanting to renovate – although I’m not too sure how long my “dream cottage” will remain the worst house for given my long-held reluctance to renovate.</li>
</ol>
Nicola McDougall is executive manager for corporate affairs for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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Six tips to avoid overcapitalising when renovating

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A Queensland developer is currently offering a “try before you buy” option to entice buyers.
The unusual marketing strategy includes the option for buyers to live in the new place for a small fee while their house is on the market – and there is also the option of moving back out if their place doesn’t sell.
While developers generally steer clear of subject-to-sale contracts, you have to give them extra points for uniqueness.
One thing that has always intrigued me is the relatively small amount of time you generally take before you decide to buy a property.
In a hot market, like the good ole days of 2007, you were lucky if you got one viewing and you had to make a decision what price you were going to offer before someone else beat you to the punch.
Even today, in sought-after inner-city areas especially, properties that are priced correctly don’t tend to last too long on the market. In fact, I recently went to the first open home of a property in the inner city to find out that it was already under contract.
When you consider that buying a home and/or an investment property is likely to be the biggest financial investment you will ever make, in many cases you have probably spent less than an hour actually inside the property before you decide to buy it. As a juxtaposition, I spent more than two hours at the weekend looking for a new frock that ended up costing me about 150 bucks and will probably be in my closet for, at best, one season.
My first home, I knew immediately – it was almost love at first sight – that I wanted to buy it, but that was probably because I had been to countless open homes in the months beforehand and knew exactly what I wanted. My second property, well I’ve never actually seen it, I only have some plans from the developer to go from as well as a vivid, and I hope learned, imagination.
The ability to live in a property before you legally own it, in my opinion, would therefore be a very good idea. You could suss out the neighbours (which realistically could be a positive or a negative), work out just how much closet-space you will have available for the aforementioned collection of season-specific frocks, and daydream about how your six-year-old, but very comfortable couch, will look in the lounge room.
Most of us, however, will never get such an opportunity, so that is why it’s so important to make sure you know exactly what you want when searching for your first, or your next, property. On <a href="https://www.reiq.com/" target="_blank">reiq.com</a>, we have a plethora of information to help buyers as well as nearly 100,000 property listings from REIQ accredited agencies – that’s the second highest numer of online Queensland property listings in the country, don’t you know!
So to help in your search, here are some tips to think about and check when you go to your next open for a property that might in a short space of time become your home:
Inside the property
• Check for signs of rising damp, such as rotting carpet or mould on the walls and ceiling; • Check the walls and ceilings for warps, cracks and any obvious damage; • Test all light switches; and • Test the water pressure in hot and cold taps and check to see that water drains well – slow flowing water may indicate blocked drains.
Outside the property
• Inspect fences for stability and any obvious faults; • Large trees around the house may have large root systems that can cause structural problems; • Check that the land’s water run-off is adequate and drains away from the dwelling; • Water staining on the eaves may indicate damaged or blocked gutters; • Look at the roof for any broken tiles or capping; and • If the property has a pool, check the legality of its fencing via the <a href="https://www.hpw.qld.gov.au/construction/BuildingPlumbing/PoolSafety/Pages/PoolSafetyCouncil.aspx" target="_blank">Pool Safety Council</a>. Pools in a community titles scheme (body corporate) are the responsibility of the body corporate.
Nicola McDougall is executive manager for corporate affairs for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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'Try before you buy' property scheme trialed in Queensland

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With the first big “didn’t see that one coming unless you looked out the window” storms of the season hitting Brisbane at the weekend, the timing of the release of two new disaster information tools this week was quite apt, in my opinion.
A new earthquake map and a<a href="https://www.qldreconstruction.org.au/flood-check-map" target="_blank"> new national online flood risk portal</a> were both unveiled by the federal government this week. Developed by Geoscience Australia, both tools will be helpful for communities to understand their disaster risk and for planners involved in the future development of our country.
There is a plethora of information available online these days that buyers can access during the research phase of their property purchase.  In our capital city, for example, you can find out the current and future flight paths of Brisbane Airport on <a href="https://www.reiq.com/Content.aspx?page=Brisbane_flight_paths" target="_blank">reiq.com</a>, and drill down to the flood risk of a specific property through the Brisbane City Council website.
And for each and every buyer, the information that these and other tools provide will mean something different. Some will look at the data and say, well, there is a chance my property might flood in the next 20, 50 or 100 years, but I’m happy to take the chance. Others will not be happy with any flood risk whatsoever (which in Brisbane may leave you with limited options except perhaps living on the top of a 20-storey building) and so will head for the hills.
Some of Brisbane’s most prestigious suburbs are located directly under flights paths for Brisbane Airport, but the majority of residents in these areas are happy to put up with some occasional aircraft noise for the views of the river or their location close to the CBD and entertainment precincts.
All buyers have a list of what they are prepared to put up with and what they are not. Some people are happy to put up with living on a main road if it cuts down on their commuting time or is close to public transport options. Others know their area might be prone to specific weather events but the lushness of the bush or the relative isolation of the location more than makes up for the risk in their mind.
I live on the river in Brisbane’s inner-city suburbs. I didn’t live there last year during the floods, but my building was seemingly about four metres under water. What I have learned from living there is that the Brisbane River – although far from aqua blue – is an almost hypnotic vista to have, and I often find myself staring blankly at the water with very little going on between my ears. It is very peaceful.
I have also learned that being on the river seems to be much windier than in the suburbs. Saturday morning’s storm certainly confirmed that assessment. At about 10.40am, as one of the many storms that rolled over our city hit, it was pitch-black in my apartment. I was too scared to turn on any lights so I sat in the dark and listened as the world outside turned topsy-turvy. The wind was howling, all the windows started to shake (and leak, I was to learn later), and I could see white-tipped waves on the usually-tranquil river. The beautiful gum trees at the front of my building were swaying back and forth so violently they were almost bending at right angles.
Scared the windows were about to crack, I moved to the hallway where I would be safe from any shattering glass, and waited. The whole episode took about 15 minutes, but it was long enough for this New Zealand native to start quivering in her boots (well, sandals, actually). You see, I can deal with earthquakes. I grew up in Christchurch. But the big summer storms that hit Queensland almost every year are a relatively new phenomenon that I am yet to fully master. Earthquakes are probably scarier, on measure, but I guess it just depends on what you are used to.
Once the storm had moved onto its next victim, I looked around my apartment to find no damage except one very wobbly resident – me. Outside, on the riverfront, one of the aforementioned gum trees have snapped in half and landed smack-bang in the middle of the swimming pool. It was a surreal sight – although I couldn’t help but be a little annoyed that if it had landed one metre to the left I would have got a new car.
Nicola McDougall is executive manager for corporate affairs for the <a target="_blank" href="https://www.reiq.com/">Real Estate Institute of Queensland</a>. This article originally appeared on the<a target="_self" href="https://reiqblog.com/"> REIQ blog</a>.
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What the Queensland government's flood and earthquake risk maps will mean for property buyers

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Last week’s cash rate cut caught a few of us here at the REIQ office a little by surprise. The first Tuesday of every month, we generally make a fairly educated assessment about what will happen at the Reserve Bank meeting that day, and I am happy to say that we get it right most of the time. Not so last Tuesday, unfortunately.
I had been sure the Reserve would cut rates, but that morning I changed my mind – something I now bitterly regret, of course. While I certainly felt the wobbly nature of the economy here and overseas warranted a rate reduction, there had been strong economic reasons for a cut in the past and the Reserve had done nothing, so I figured that is what it would do again.
At approximately 2.31pm AEST I discovered that the Reserve’s assessment of the economy had in fact been similar to mine (until I changed my mind, that is) and the cash rate had been lowered by 25 basis points to 3.25% – the lowest it had been since 2009.
But while cash rate cuts may seem like a very good thing, they also signal that the economy is not quite as flash as we would like it to be. Throughout 2011, in my humble opinion, the Reserve left the cash rate far too high for far too long because on the ground it was fairly obvious that things were pretty average. The property market was very flat, the retail sector was flatter, and to top it off we’d had our summer of natural disasters, which affected thousands of Queenslanders as well as the morale of an entire state.
Now with interest rates heading towards where they should have been last year (in my humble opinion), the question is how much lower are they likely to go?  Indeed, survey results released this week indicated that more than two-thirds of first-home buyers were intending to fix their home loan rate over the next 12 months to gain some repayment certainty.
I read somewhere once that when it comes to the game of fixing the interest rate on your home loan there is usually only one winner – and it is unlikely to be you. That said, I fixed a portion of the loan on my first home five years ago. Within 12 months, due to rampant inflation, rates had shot up to more than 9%, so that fixed portion actually saved my bacon.
Unfortunately, a year after that the GFC happened and rates plummeted to historic lows, so that fixed portion soon resembled some type of greedy goblin when I paid my mortgage every month. In hindsight, I think I ended up winning some and losing some.  But with fixed rates now heading towards 5%, I am starting to consider fixing once more but alas remain annoyingly undecided.
To fix or not to fix? That is the question. Whether ’tis nobler in the mind to suffer the slings and arrows of outrageous fortune, or to take arms against a sea of troubles.
See, even Shakespeare didn’t know what to do.
Nicola McDougall is executive manager for corporate affairs for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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You win some and lose some when you fix your mortgage

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Australia is a nation of pet lovers.  It is estimated that 63% of Australian households have some type of pet, with more than 50% of us owning a dog or a cat.
Over many years, Australian and international research has shown that owning pets can help improve a person’s mental and physical health, reduce the effects of stress, help children learn about responsibility, facilitate social interaction between people and build a sense of community.
And according to a recent release by the <a target="_blank" href="https://petnet.com.au/">Petcare Information and Advisory Service (PIAS)</a>, the structural shift to higher-density living has the potential to impact our love of pet ownership and the benefits we derive from having a beloved moggy or ridiculously cute sausage dog called Kransky.
In many countries, according to PIAS, where high-density living has been the norm for a longer period of time, pets have been successfully integrated into city life.  And while it appears more and more landlords and bodies corporate in Australia are open to tenants and owners having pets, we still have a long way to go before we reach the acceptance levels of our compatriots overseas.
I have always been a cat person. I grew up with cats with imaginative names like Sylvester, Panther, Sebastian and Spike.  Our first cat was called McFur, which I must admit is pretty damn cool.
I was pet-less for about 15 years as I wandered around the globe, but about four years ago I inherited a cat a colleague had found living in a drain. The story goes that the previous owners had packed up and quite purposely left the cat behind. I still shake my head about it to this very day.
<img style="margin: 5px; float: left;" src="/images/stories/2012/07/trixie.jpg">
Now this cat lived in a drain for several weeks and was only rescued once it decided to start stealing food from people’s houses. She was obviously very hungry, but also admirably resourceful. The vet nicknamed her “Worms” and she lived there for two months before the last day of her existence was nigh. My colleague, an avowed animal-lover who already had a large enough collection of pets herself, put out a last desperate call for someone to save the cat’s life. For some reason, I answered that plea and within six hours had a very frightened, pitch-black, green-eyed fur-person delivered to my townhouse. Her first toy was a feather duster.
We named her “Trixie” (Trixie McMoo Moo in reality, which is quite embarrassing for me and for her) and she is the most affectionate, clumsy, slightly crazy cat I have ever known. We kept each other company over those years, but like so many people when I decided to move into a new property, there was a “no pets” policy. I thought about sneaking her in but decided against it. The next best option, of course, was to call my mum.
No doubt there is research out there somewhere about the tens of thousands of animals that end up living with mum and dad. Mum was due to retire, had lots of outdoor space for Trixie to roam around and roll in, and best of all, I could still see her whenever I wanted.  I saw her yesterday actually, but I must admit (as cats are wont to do) her affection for me has waned and is now firmly lodged with my mother. But that’s OK because she is happy and healthy where she is. But if I’m completely honest, part of me still pines to have her back living with me – especially now that it’s winter so she could keep me warm under the covers.
Nicola McDougall is media and communications manager for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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And your little dog too: When pets and property are incompatible

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There has been plenty of talk of late about the bottom of the Queensland property market and whether it is here or indeed has already passed. It is almost like a mythical beastie that everyone tries to identify but in reality few actually do. This is because – just like coming face to face with an ogre masquerading as a human – it can be quite a scary proposition. Well, it was the time I thought I caught a glimpse of one.
I have always said everyone has different bottoms (chortles inserted here please). That is what makes the world such an interesting place. When it comes to the property market, some people might wait for a time when they believe prices have bottomed out and when activity is usually also low. Others might wait for prices to start to increase marginally or wait for activity to increase ever-so-slightly.
Whichever timing is the best for you, buying property is usually the biggest financial decision you will make in your lifetime, and there is likely to be a certain amount of stress involved, regardless of when or how often you buy.
In January this year, I took the plunge and bought an off-the-plan investment property. It was in an enviable location close to the city, had strong capital growth and rent potential and, well, the design was funky – I am a woman, after all. At that point in time, I thought the bottom of the market had arrived. From talking to agents it seemed there was a little more confidence in the market, more people were venturing out to open homes, and the remnants of last year’s natural disasters were nearly a calendar year behind us.
I signed on the dotted line within a few days of first seeing the plans and after doing so much extra research I thought that my eyeballs or my brain might fall out on my desk. Thankfully neither of those things happened otherwise it would be very difficult for me to write this column. I acted quickly because – just like my first property purchase – I had a good feeling about the development and it ticked all the boxes when I considered the various investment property criteria.  Was I nervous? Yes. Did I know with 100% certainty that I was buying at the bottom of the market? No, but I was prepared to give it a shot. So were plenty of other buyers I found out, with the development almost selling out within the March quarter.
Five months on from that decision, the diggers have moved in and soon the development will start to take shape. I am a little jealous that I will never live in it, because it does have primo views across the river, but apart from that I am happy with the decision I made. When it comes down to it, it is only you who knows when it is the right time to buy and in the end which bottom you would prefer.
Nicola McDougall is media and communications manager for the <a href="https://www.reiq.com/" target="_blank">Real Estate Institute of Queensland</a>. This article originally appeared on the<a href="https://reiqblog.com/" target="_self"> REIQ blog</a>.
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Nicola McDougall

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