Are You a Property Addict? Ten Symptoms

If these symptoms sound familiar, you may be a property addict
Photo: Mia Half, Creative Commons

1. You Browse Real Estate Ads for Fun

Property addicts browse property regardless of whether they’re in the market to buy.

Hardened cases browse properties outside their wildest budget or lifestyle dreams.

Boarding houses, homes with granny flats, development opportunities, renovators’ delights, studios – the true property addict is interested in them all.

The vicarious thrill is even greater if a friend or relative is looking for a new home. The property addict is likely to put together long lists of prospects – without being asked to do so.

2. You Pull Over for Property

If a property addict is out and about, and sees a home open for inspection, he or she will pull over and take a look.

If – better still (!) – the property is being auctioned, any other plans will be delayed until the free entertainment has ended and the hammer has fallen.

3. Your Obsession Doesn’t Take Holidays When You Do

Whether travelling overseas, interstate or to a beach retreat, the property addict will invariably find themselves drawn to real estate windows and local newspapers.

4. You Know Your PPOR from your LOC

You spend so much time on internet forums that you know all the acronyms: PPOR (principal place of residence); IP (investment property); PM (property manager); CG (capital gain); NRAS (National Rental Affordability Scheme); LOC (line of credit); LVR (loan to valuation ratio); OTP (off the plan)…

5. You’ve Read One or More Books on Property Investment

Every investment ‘expert’ has their own approach. The property investment addict has read several titles and is familiar the with the ‘big names’, and where their approaches differ in regards to capital gains vs. cash flow, cities vs. regional centres etc.

6. You Buy Property Investment Magazines

Australia’s property addicts support a disproportionate number of glossy property investment magazines filled with inspiring/jealousy-inducing case studies about investors who own staggering portfolios despite modest salaries and dramatic life setbacks.

The magazines often share common themes, quote the same experts and have similar lessons, but the true addict continues to buy them regardless.

7. You Visit Property Forums

Whether as a lurker or an active poster, addicts frequent property investment websites and forums where they can find others who share their obsession.

8. You Daydream about Making Property Your Career

Most property addicts have had passing musings about the prospect of a career in a real estate-related field – some active investors/property addicts who have achieved the Holy Grail (no need to work their day job) act on these impulses.

Popular ideas include real estate blogging, mortgage broking, becoming a developer and working as a buyers’ agent.

9. You Know Your History When it Comes to Houses

Property obsessives can usual identify the era of construction– whether Art Deco, Federation, Edwardian, Victorian or post-war.

10. You’re a Realistic Optimist

Pessimists are seldom property investors – put off by bubble-bursting commentary, fears and analysis paralysis.

Successful investors do their research then buy a property within their means, while using building insurance, landlord insurance and professional property management to keep them from sleepless nights.