With so much uncertainty in the world today, do you wonder whether you should invest more in property during COVID-19… or wait it out?
The coronavirus pandemic has clearly led to many people reflecting on their personal and financial situations and circumstances and making decisions about what is the best way forward. For some this will be growth, expansion, and increased risk but also potentially increased value. For others it may be contraction, perhaps even exiting the property market as security and safety become the guiding principles in their lives.
Whilst property experts have re-evaluated short-term forecasts for the market, long term projections for the property market remain healthy.
Whatever your circumstances it is essential to understand that property maintenance & investment is not a short- term prospect:
- Homeowners who neglect property maintenance will be shock in in the medium to long term (for five to ten years). The cost of putting back your property in good condition will be huge, than to put some little effort now.
- People who enter the market expecting enormous returns in three to five years are in for a shock. All property investment needs to be conducted in the medium to long term for five to ten years minimum but generally longer.
How can you manage this during the COVID-19 lockdown?
There are various ways in which you can take precautionary steps in order to prevent problems that could otherwise have a negative effect on the condition of your home or property investment portfolio.
Carrying out simple checks and using a few preventative procedures and products can make a big impact when it comes to the risk of issues arising in your property.
So, whether you lease or own your space, have a broad portfolio, or a single asset, as a property owner, the attention you give to your assets, and its facilities, is more crucial now than ever.