Property investment always has an element of risk to it. There are many things that can affect a property investment project and some of these are within your control and others are not. In 2019 there was a great deal of uncertainty in the UK property investment market. House prices fell in certain areas and Brexit was a constant worry.
But despite all of the uncertainty, the UK property investment market is still very solid and if you approach it right then there are many opportunities available to you. If you do not share this view then you have let all of the uncertainty shape your mindset and you have probably missed out on a number of good deals.
What lies ahead for UK Property Investors?
So we are in a new decade and many property investors are considering what the next 10 years has in store for them. Since the Brexit referendum we have witnessed the behaviour of property investor’s change quite dramatically. This is understandable to a degree but we believe that a lot of this is due to irrational fear.
Nobody wants to lose money – we get that. But irrational fear around the property market can paralyse you and result in you taking no action to fine good opportunities. Irrational fear and investing are not a good mix and you can really miss out on profitable opportunities if you don’t tackle this fear.
Understanding the Market
Irrational fear often stems from a lack of knowledge. There are always going to be a number of factors that affect the state of the UK property market. Most of these have always been around and in the last few years there has been Brexit to contend with as well.
If you want to be successful in property investment you must know everything you can about the market and the things that affect it. We have said this time and time again. When you really understand the market you can be a lot more confident about investment decisions because you are getting the facts and avoiding the hype.
Don’t Believe everything that you Read
If you look at the UK property investment news a lot you will see a lot of doom and gloom there. So called “experts” predicting that buy to let is dead or dying, house prices are falling, rental prices are falling and so on.
What you always need to bear in mind is that this is just opinion. Opinion can certainly be wrong and often is. In the same batch of property investment news stories that say buy to let is dead for example, there are other stories that claim that it is booming and better than ever before.
You must be Fearless
If you have irrational fears about property investing then these are going to seriously hold you back. You certainly need to calculate risk. This is something that we would always recommend. But not considering most investment opportunities due to paralyzing fear is not the way to go.
Make a commitment to develop your knowledge of the UK property market in 2020. More knowledge is fundamental to beating irrational fear. Ask yourself the right questions to determine your best property investment strategy such as:
- What is the limit of your investment?
- What is your ideal investment time frame?
- What property investment strategy do you prefer?
- How much risk are you prepared to take?
You need to be fearless with property investing from now on. So become a lot more knowledgeable and know what you want for the future.