Hello everyone,
I was rather close to buying my first IP near Frankston (south of Melbourne) - close to the new Eastlink - and I still think the location is quite nice. But with the current subprime / global credit crunch, I'm really considering to chicken out of the whole deal.
I know, the first IP is probably the toughest to decide, but to buy-in now and to wait for a year to see my IP buying built (as it's an off-the plan property) while the world around it tries to cope with the current mess... I think I won't be able to enjoy the ride.
Now - is my 'fear' something normal for a first-IP-buyer, or do also experienced property investors get cold / shaky (chicken) feet during such times ?
Cheers,
Void
I was rather close to buying my first IP near Frankston (south of Melbourne) - close to the new Eastlink - and I still think the location is quite nice. But with the current subprime / global credit crunch, I'm really considering to chicken out of the whole deal.
I know, the first IP is probably the toughest to decide, but to buy-in now and to wait for a year to see my IP buying built (as it's an off-the plan property) while the world around it tries to cope with the current mess... I think I won't be able to enjoy the ride.
Now - is my 'fear' something normal for a first-IP-buyer, or do also experienced property investors get cold / shaky (chicken) feet during such times ?
Cheers,
Void