Unless you’re a child waiting for Christmas (or anything for that matter) time slips by so quickly. Making the most of the time in which we have – productively at work and enjoyably at play – should be a priority for us all. If you’ve reached that point where it seems there’s no time for anything, let it be a reminder to stop, take check and make sure you’re tracking to where you want to be. Whether that’s professionally, financially or personally, there’s no point running the rat race if you don’t know what you’re running toward.
There’s a lot of talk about future-proofing our lives and for many landlords, the property or properties they hold play an important part in their future.
Are you content with the diversity or opportunity it provides or is there room for movement somewhere in the near future?
Whether you own one investment property or ten, it’s always important to make sure the investment is working to benefit you.
If you could go back five, ten, fifteen years, what would you do differently?
Chances are there are at least a handful of things you’d tweak, but there’s no point dwelling on should-haves. No one has a crystal ball.
Where hindsight is beneficial is in considering how decisions we make now will influence our future self. If you still have ownership of your first property purchase (investment or otherwise) and it was some time ago, it’s likely the property’s value has increased considerably. What could that mean twenty years from now for property purchased today?
While it’s been said we’ve passed the peak housing prices, there are still many parts of the country holding steady, with prices well above where they were five years ago. Home ownership rates are down, with the rate for ownership sitting at 67% (2021 Census), but what does this mean for investors? Your property is a highly valued commodity and it will continue to be so for years to come.
Without sounding selfish, what can you do now to help your future self? Are your current circumstances building the life you want to enjoy? Whatever significance your portfolio plays in your future, consider how your decisions now can help your future self.