In 1972, the average price of a house in Brisbane was $15k. Who would have thought now the average price is $673k. What’s more, if it costs $2m in twenty years’ time, will we be able to afford it? The solution is simple. Buy now. That is, buy a quality residential property in Brisbane now and pay it off over the next twenty years.
Will that work?
The word inflation invariably pops up when it comes to future housing. Buying a property now is the whole point of not getting left behind. It does not matter whether in 20 yrs the average cost of a house is $2m, or $3m. You have the option then to buy & sell in the same market. So even at the point of retirement, you would prefer to live somewhere else, you can sell it & buy wherever you want.
Why Brisbane?
With over 40 years of research, Steve finds Brisbane to be “Risk Averse”. In his opinion, Brisbane is the one of the safest markets in Australia: It is an area that is not influenced by mining or tourism. The recent Central Highlands downturn has been a great educational experience for many who did not take this into consideration; They simply could not rent out their asset to help pay it off, and equity dissappeared.
Risk analysis for your ‘retirement’ project
There are many relatively intelligent people who live in the immediate region who did not prepare for their future. Some might have taken the “golden handshake”six months ago to find, they could not afford to buy a house, and are now back here looking for a…
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…a job again.
Our workforce is constantly doing a risk analysis on their jobs at hand or workplace procedures, but not on, “how and where is my family going to live after retirement?’
Every Sunday I eat apple pie
One of the techniques to analyse hazard/risk control many may have heard of is the, ‘Every Sunday I Eat Apple Pie.’ This is an easy to remember acronym to prioritise solutions for perceived risk.
Every Elimination of the risk
Sunday Substitution of the risk
I Isolation
Eat Engineering Controls
Apple Administrative Controls
Pie Personal Protective Equipment
What is a solution to enable you to manage your future beyond working life?
A $2m house might not be affordable if you leave it to chance. Take steps now to secure direction for later. Talk with Steve Taylor to understand your options. Manage your risk. Make a plan to at least own one house before you retire.
If you would like help to start your residential property investment portfolio, please schedule a free, no-obligation consultation and let’s discuss your options.
If you prefer to listen here is my radio interview on Emerald 4HI:
At the helm of Steve Taylor & Partners, Steve has been delivering expert advice and product knowledge to clients for over 30 years. We provide individuals, couples and families with the right strategies to create wealth and change their lives with solid bricks and mortar.
DISCLAIMER
All information presented on this website https://stevetaylor.com.au has been provided as general advice only and should not substitute the obtainment of independent professional advice given in consideration of your personal financial circumstances, needs or objectives. While Steve Taylor & Partners Pty Ltd intends to only present up to date and accurate material and information through its website, we accept no liability for loss or damage (including indirect, special or consequential loss or damage to any person) with respect to decisions or actions taken in reliance of such information. We recommend users to exercise their own skill and care. Further, Steve Taylor & Partners Pty Ltd takes no responsibility as to the accuracy of information on third party links made available through our website but are merely provided for the users’ convenience.
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