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The actual cost of a Property

Many people fail to realise the importance of seeing the bigger picture when it comes to property. 

 In the real estate market, people tend to keep buying the properties because of the belief: “there has to be a roof over our head”. The reason people do this apparently not because of their need for property, but more because of their belief system. The most popular belief system that has been traditionally adopted throughout generations is we need to buy a house as our home. Owning a home probably in the top 3 of the bucket list for many people.

We would have to agree that “roof over our head” is important. House can be defined as an environment for family living, fulfils various functions like effective use of resources, protection, social and emotional bondage among family members, cultural influence in way of living, religious mindset and social status. 

(Source: http://ecoursesonline.iasri.res.in/mod/page/view.php?id=121484#:~:text=House%20as%20environment%20for%20family,religious%20mindset%20and%20social%20status ). 

The truth about living in a house is we do not necessarily need to purchase or own it. We could rent it and it serves the same purpose which is the place of living. The issue with the housing market is rooted in the same value.

https://www.theguardian.com/australia-news/2021/may/11/australias-housing-crisis-its-one-of-the-most-unaffordable-in-the-world-so-how-is-the-coalition-going-to-fix-it

https://www.theguardian.com/commentisfree/2021/may/12/the-budgets-affordability-measures-wont-lower-australias-house-prices-they-werent-designed-to

https://www.abc.net.au/news/2021-02-27/policy-ideas-to-solve-national-housing-crisis-australia/13185064

https://www.afr.com/property/residential/the-affordability-problem-s-back-and-harder-to-tackle-20210309-p5798v

The main issue about the housing market is not the affordability, but the people’s mindset. The majority of people desire the mansions, big free-standing houses, only 10 min drive to Sydney CBD, latest finishes in appliances, Torrens title and keep increasing in value where their ability to produce high-income work to serve the loan is highly doubted. At the end of the day, these people who could not afford to buy their “dream house” according to their “own standard”, start condemning other stakeholders for the cause of the Sydney properties’ high price. In particular, they put the blame on the government for not doing enough to help the locals to be able to afford “the so-called decent” home. 

Everyone has a chance to develop their mind. Mark Zuckerberg, Steve Jobs, Elon Musk, Jeff Bezos are some examples of brilliant people who keep producing high income for themselves and the people around them. There is always a price to pay for everything in this life. If we dream to live a higher standard of lifestyle, of course, we need to consider the price and effort it needs. Too many people are busy dreaming about spending $1 million, but never even dare to dream about producing $1 million income. The issue is not about affordability, spending, or lack of capability. It all has to do with mindset. The change of mindset or mindset upgrade needs to happen so that the people could embrace the hardship or process in their property journey and start planning their own financial success. 

Mindset is the only indicator that will change people’s actions. Without mindset upgrade, it’s like a donkey who keep falling on the same holes. Albert Einstein said it perfectly below. 

Upgrade your “old brain” to be developed to a new mindset and put it into action, you will change your life and the lives of the people around you.

 Enjoy the upgrade journey!

If you would like to know more about property journey, please contact us at info@cvig.com.au or contact us at (02) 8386 2977.

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