{"id":12909,"date":"2017-07-30T03:00:09","date_gmt":"2017-07-29T17:00:09","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=12909"},"modified":"2017-07-30T03:00:09","modified_gmt":"2017-07-29T17:00:09","slug":"time-your-buying-around-lifestyle-shannon-davis","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/time-your-buying-around-lifestyle-shannon-davis\/","title":{"rendered":"Time your buying around lifestyle – Shannon Davis"},"content":{"rendered":"

Buyers agent Shannon Davis<\/strong> says that while timing of the market is a difficult thing to do, looking at it as timing from a lifestyle or life-span might be a better idea.
\nTranscript:<\/strong>
\nKevin:<\/b>\u00a0 Many people, when they\u2019re looking at property investment, will agonize over timing: when\u2019s the best time to do it? That\u2019s from a market point of view, but an interesting perspective: maybe you should look at it from your lifestyle point of view. Joining me to talk about that, Shannon Davis, buyer\u2019s agent from Brisbane with Metropole.
\nShannon, are you quite often confronted with this \u2013 people getting confused about trying to time the market as opposed to timing when it\u2019s going to suit them best?
\nShannon:<\/b>\u00a0 Yes, I think so. Probably the number one question that we get asked is \u201cHow\u2019s the market going, and is it a good time to buy?\u201d I think for a couple of reasons, it\u2019s probably the wrong perspective. If you\u2019re just looking to see is it a great time to maximize capital growth and get it absolutely right in its point of timing, you\u2019re probably going to be disappointed.
\nProperty is a long-term hold, and if you want your money back in the first five years, it\u2019s probably not the asset class to be investing in. But also, it\u2019s more important about what your particular circumstances are like.
\nKevin:<\/b>\u00a0 Do you think this comes about because people tend to still think of property as a short-term hold? If you\u2019re going to look at it as a long term, then you will take into account your family situation, your financial situation as opposed to try to get into the property market, make a quick profit, and get out, Shannon.
\nShannon:<\/b>\u00a0 Oh, definitely. I think when people are looking to do those speculative type of things and sell in the short term for a nice quick dollar, that\u2019s probably when I\u2019m least comfortable with the property market. I\u2019m thinking that people are being greedy and therefore, I\u2019m a little bit fearful of those type of circumstances.
\nI think if you have a deposit saved and your circumstances aren\u2019t going to change as far as jobs or pregnancies or retirement, and you can service it, then it\u2019s a good time for you to extend your asset base.
\nKevin:<\/b>\u00a0 How do you counsel someone when they come to you and they say something like \u201cWell, Shannon, I\u2019m just trying to work out when is the best time for me to buy a property and which area should I be buying in because it\u2019s going to give me the best capital growth?\u201d What\u2019s the first thing you say to them?
\nShannon:<\/b>\u00a0 Just caution that hot-spotting mentality. I think it\u2019s not like shares where you can get in and out in a day. I think this property you could be settled with for five to ten years especially if it travels south capital growth wise. There are always black-swan events or X-type factors such as GFC or Asian Financial Crisis or a credit squeeze that we\u2019re not always\u00a0[2:36 inaudible]\u00a0<\/b>and it can happen out of the blue and all of sudden you\u2019re in with a long-term hold into a property that you might not want to be in because you had the wrong mentality at the start.
\nKevin:<\/b>\u00a0 You could be frozen from\u2026 I think you called them black swan events; I\u2019ve never heard them called that before. But you could be paralyzed by that if you\u2019re not careful, couldn\u2019t you, from fear?
\nShannon:\u00a0<\/b>\u00a0Oh, definitely. Then you spend so much time on the sidelines that you\u2019ve missed a lot of capital growth thinking that you\u2019re going to pinch a bargain in the inevitable crash. The Australian property market has never had that much severe contractions before, so it\u2019s probably a false economy to be waiting for that.
\nKevin:<\/b>\u00a0 So, Shannon, are you saying that any time is a good time to buy?
\nShannon:<\/b>\u00a0 No, not necessarily, Kevin. I think when property comes away from its fundamentals, then you\u2019re probably heading into a dangerous territory. By that, I mean that yield is very important and as the capital growth skyrockets up, you start to get some yields that are probably not sustainable for the investor.
\nIf they\u2019ve had such good period of capital growth and yields starting to show 2% or low 3%, I think that\u2019s an area that to watch out for, because you\u2019re going to need a bigger deposit, you\u2019re going to need to pick up the gap between the tenant and the taxman and yourself more, and any interest rate rise will further complicate that.
\nI think they are the times where I\u2019m not looking to extend a portfolio when market has had such great capital growth previously.
\nKevin:<\/b>\u00a0 How often are you reviewing your own personal portfolio and how often do you think someone should review theirs, Shannon? Does it vary?
\nShannon:\u00a0<\/b>\u00a0I think if you had an auction outside your house every day for 30 days, you\u2019d get some widely different prices there, so it\u2019s not like a share market where you want to check the paper every day, but I think it needs to be regular.
\nFor myself and my own personal portfolio, I spend five days a year, every year in the same month just reviewing my portfolio, looking at LVRs, looking at my buffer for contingency, and just seeing what capital growth is up in there and what improvements need to be made and look to make decisions based on that.
\nKevin:<\/b>\u00a0 When you take those five days out, are you counseled by someone? Do you do this on your own?
\nShannon:<\/b>\u00a0 I get some appraisals and sometimes even bank evaluations if I\u2019m really serious about extending my portfolio and look to see which properties are starting to bring maybe a diminishing return.
\nBy that, I mean if you compare it to the median in the area, it might have been a while since you\u2019ve done a renovation or a refurbishment and you\u2019re starting to see that your rents may be dropping or vacancies being longer, or perhaps tenants and the references of the tenants aren\u2019t as good as you like. That\u2019s when it\u2019s an area that it might need some improvement offered, just to get that property back up to scratch.
\nKevin:<\/b>\u00a0 Good talking to you. Shannon Davis from Metropole. He\u2019s a buyer\u2019s agent in Brisbane. Shannon, thanks for your time.
\nShannon:<\/b>\u00a0 No worries, Kevin. Any time.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Buyers agent Shannon Davis says that while timing of the market is a difficult thing to do, looking at it as timing from a lifestyle or life-span might be a better idea. Transcript: Kevin:\u00a0 Many people, when they\u2019re looking at property investment, will agonize over…<\/p>\n","protected":false},"author":176692471,"featured_media":14338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,32,10,11,13,36,22,25,27],"tags":[101],"class_list":["post-12909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-in-brisbane","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-research-topic","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nTime your buying around lifestyle - Shannon Davis - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/time-your-buying-around-lifestyle-shannon-davis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Time your buying around lifestyle - Shannon Davis - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Buyers agent Shannon Davis says that while timing of the market is a difficult thing to do, looking at it as timing from a lifestyle or life-span might be a better idea. 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