Is investing your New Year’s resolution?

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Source: Your Investment Property

By Phil McCarroll

It may be somewhat cliché, but the New Year period can serve as the perfect motivator for those looking to start their property investment journey.

While giving up smoking, taking up exercising or travelling more might seem like the more typical New Year’s resolutions, there’s no reason investing in real estate should be neglected when it comes for setting goals for the coming year.

But like a lot of promises people make to themselves as the fireworks are set off, grand plans of property ownership often come to nought as the year goes on.

“Having a New Year’s resolution to start investing is a great thing, but buying a property is a major step and like other resolutions people often lose the energy and motivation after a week or so,” Michael Beresford, director investment services with OpenCorp said.

“The absolute first thing people should do if they’re thinking about investing is sit down and come up with an action plan that sets out what they need to do to get to the point where they are ready to buy their first property,” Beresford said.

While an action plan may vary from individual to individual, Beresford said there are two vital points that should not be left off.

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