"My friend said so" is dangerous
Did you know?
"My friend said so" can be dangerous.
Very often, client tells us that they bought their property because their "friends said so" and they have one in the same area". Is this good or bad?
Did you know, what works for your friend may not work for you? You and your friends probably have different investment goals, you have different risk appetite, you have different investment timelines. Or even if both properties are similar, did you know there could be restrictions on one property, but not the other? Did you know there could be a water mains pipe under your property that could restrict what you build on it?
Almost every conveyancer or building inspector will not tell you this. Your friend might not be bothered with this, but you might, if you planned on developing your property in future.
Or your property has an illegal extension which doesn't bother your friend, but might affect your plans and the value of your property in future.
Confusing? Mind boggling?
This is why a good conversation with a buyer's agent who works with you on your property investment journey is important. He/she will find out what your plans are, and help to make sure the property you get will fit into your investment plans.