![\"pencil](\"https:\/\/propertyupdate.com.au\/wp-content\/themes\/oldpaper\/img\/note.svg\")
<\/picture><\/span>Note: <\/span>While many investors start out with the intention of making it big in real estate, only a handful will ever get past their first investment, and even fewer will create real wealth by climbing to the top of the property ladder.<\/p><\/div><\/div>\n And while learning how to invest in property is vital for all newcomers, understanding the pitfalls to avoid should also be a priority from day one.<\/p>\n As we have seen over the last few years starting with the Covid-induced property boom, followed by a decline, followed by a steep recovery of property prices while supply tightens, not all properties will increase or decrease in value at the same rate.<\/p>\n \r\n Of course, cycles and uncertainty are part and parcel of property investment, which is why careful asset selection is critical.<\/p>\n You also need the right team around you to help make the best investment decisions.<\/p>\n To help<\/a>, I\u2019ve put together a guide for property investment for beginners which includes a step-by-step breakdown to get started in property investment.<\/p>\n Understanding exactly how to invest in property is the key for any rookie or seasoned investor. To build yourself a sound asset base your properties will need to appreciate in value at wealth-building rates (in other words, above-average capital growth). In other words, this is the income you receive from renting out the property.<\/p>\n While you should never invest solely for this reason; a good tax strategy can help you manage your cash flow, decrease your tax obligations and increase your bottom line.<\/p>\n Getting your hands a little dirty (metaphorically speaking) by purchasing a property that needs a bit of cosmetic TLC through renovations or a major facelift through property development, is a great way to manufacture capital growth.<\/p>\n Property investors have learned it's too hard to make money using your own money. In other words, they take on a mortgage, but over time, inflation erodes the value of the mortgage.<\/p>\n For example:<\/p>\n Take a $400,000 mortgage on your $500,000 property today \u2013 in 10 years' time your property could be worth $1 million and you still have a mortgage of $400,000 (assuming interest-only payments) however in 10 years' time your $400,000 won't be worth as much due to inflation.<\/p><\/blockquote>\n When learning how to invest in real estate, it's essential to understand the three stages of building wealth through the property from the get-go, which are:<\/p>\n Now we know that capital growth is the appreciation of your asset and cash flow is the rent you receive, it's important to next decipher which one is best for you.<\/p>\n When it comes to real estate investment, you\u2019ll often hear two somewhat conflicting philosophies being bandied around.<\/p>\n Firstly, there are the \u201ccashflow\u201d followers; they suggest you should invest in property that has the capacity to generate high rental returns to achieve positive cash flow.<\/p>\n In other words, you want rental returns that are higher than your outgoings (including mortgage payments), leaving money in your pocket each month.<\/p>\n Then there\u2019s the \u201ccapital growth\u201d crew.<\/p>\n Their favoured strategy is to invest for capital growth over cash flow.<\/p>\n In other words, you need to buy a property that produces above-average increases in value over the long term.<\/p>\n Note: <\/span>Investment properties in Australia with higher capital growth usually have lower rental returns.<\/p><\/div><\/div>\n In many regional centres and secondary locations, you could achieve a high rental return on your investment property but, in general, you would get poor long-term capital growth.<\/p>\n Having said that, there's no doubt in my mind that if I had to choose between cash flow and capital growth, I would invest in capital growth every time.<\/p>\n It\u2019s just too hard to save your way to wealth, especially on the measly after-tax positive cash flow you can get in today\u2019s property market.<\/p>\n So, the first phase of wealth accumulation is the stage of asset growth.<\/p>\n Tip: <\/span>My advice for budding investors is to understand that wealth from real estate is not derived from income because residential properties are not high-yielding investments.<\/p><\/div><\/div>\n Real wealth is achieved through long-term capital appreciation and the ability to refinance to buy further properties.<\/p>\n If you seek a short-term fix with cash flow-positive properties, you\u2019ll struggle to grow a future cash machine from your property \u2013 it\u2019s just that simple.<\/p>\n But here\u2019s the trick\u2026<\/p>\n You can\u2019t turn a cash flow-positive property into a high-growth property, because of its geographical location.<\/p>\n But it\u2019s all about knowing how to invest in property that can achieve both high returns (cash flow) and capital growth by renovating or developing your high-growth properties.<\/p>\n This will bring you higher rent and extra depreciation allowances, which convert high-growth, relatively low cash flow properties into high-growth, strong cash flow properties.<\/p>\n This means you can get the best of both worlds.<\/p>\n Put simply\u2026 cash flow keeps you in the game while capital growth gets you out of the rat race.<\/p>\n While timing the market should never be a key focus of any property investor, it is certainly helpful to understand that the property market moves in cycles.<\/p>\n Following the herd and buying when everyone else is on the property bandwagon doesn\u2019t always work.<\/p>\n That\u2019s often when the market is near its peak.<\/p>\n On the other hand, you have a better chance of grabbing a good deal in a buyer\u2019s market, when the property is out of favour.<\/p>\n As the infamous Warren Buffet once said:<\/p>\n Be fearful when others are greedy and be greedy when others are fearful.<\/p><\/blockquote>\n I personally have a strong view on investors trying to \u201ctime the market\u201d, especially if they\u2019re an established investor.<\/p>\n If you\u2019re into real estate for the long haul (and that\u2019s really the only way to play the property game) then time-in-the-market (owning a property that will outperform the averages in the long term) will trump timing-the-market (making a one-off capital gain, but then often missing out on strong, long term growth because you\u2019ve bought in the wrong location).<\/p>\n Note: <\/span>Time in the market is what delivers the most capital growth.<\/p><\/div><\/div>\n As you can see from the graphic below, if your $500,000 investment property increases in value by 7% per annum, it will be worth almost $1.4 million in 15 years\u2019 time, but almost half of this capital growth will occur in the last five years.<\/p>\n This means the sooner you start your real estate investment journey, the better, as time and compounding will work longer for you.<\/p>\n <\/p>\n There are several types of real estate investment that you can choose from as an investor.<\/p>\n One of the most popular is the freestanding house, which serves as a great home for tenants looking to raise a family.<\/p>\n A moderate-sized pet-friendly family home with a fenced backyard in the right suburb often commands a high price in the rental market and delivers consistent capital growth because this type of property is in strong demand by owner-occupiers pushing up the value of similar properties around you.<\/p>\n However, our changing demographics mean more families are trading their backyard for a balcony, so if you want to target singles, couples, students, young professionals, and retirees, you could invest in a unit or apartment that best suits their busy lifestyles.<\/p>\n The location is of utmost importance in these properties, as tenants prefer a place that is close to their university, workplace or where they social activities take place, and is easily accessible to public transport.<\/p>\n While some people invest in a holiday home, in my mind these make poor investments as they are in seasonal demand and may remain untenanted for long periods of time, and their values fluctuate considerably depending upon the general economic cycle.<\/p>\n You see...when times are tough no one really wants to (or can afford to) buy a holiday home.<\/p>\n There are also:<\/p>\n Understanding the demographic market for each type of investment property is the key to knowing how to invest effectively.<\/p>\n As an investor, it\u2019s important to understand who your target market is and also that location does most of the heavy lifting for your real estate investment success.<\/p>\n Note: <\/span>Around 80% of your property\u2019s performance will be due to buying in the right location, and the balance will be due to owning the right property, an \u201cinvestment grade\u201d property that suits the fundamental demographic in that location.<\/p><\/div><\/div>\n That\u2019s why I suggest the following advice to help you learn how to choose the right property that will outperform the general market.<\/p>\n Once you have a good grasp of the above strategy, you need to follow the 6-stranded strategic approach below to choose the right property to buy.<\/p>\n This approach helps minimise my risks and maximise my upside.<\/p>\n That\u2019s because each strand represents a way of making money from property and combining all 6 is a powerful way of putting the odds in my favour.<\/p>\n If one strand lets me down, I have 4 or 5 others supporting my property\u2019s performance.<\/p>\n When you look at it this way, property investment strategy takes a lot of time, effort, research, and something most investors never attain \u2013 perspective.<\/p>\n Tip: <\/span>This is invaluable in knowing how to invest in real estate - you can gain a lot of knowledge through research but it takes many years to develop the perspective to understand what makes an investment-grade property. By the way\u2026 this is not a buyer\u2019s agent, even though a buyer's agent will be involved eventually to purchase the property.<\/p>\n In fact, in today's challenging environment, it is more important than ever to have more than just a property strategist\u2014a team of advisors who take a holistic approach to your wealth\u2026 and that's what we specialise in at Metropole.<\/p>\n We take a macro view of your needs and will build you a customised, personalised Strategic Property Plan, and then we will help you implement this strategy by coordinating the various consultants including a buyer\u2019s agent.<\/p>\n Here are some common questions we, at Metropole, come across when it comes to choosing a property investment.<\/p>\n Which is best, a house or an apartment?<\/strong><\/p><\/blockquote>\n Over the last few years, houses have outperformed apartments, so many are wondering are apartments still a good investment:<\/p>\n But these are big picture \u201coverall\u201d stats \u2013 some apartments, especially family-friendly low-rise apartments in lifestyle neighbourhoods have still performed well, while high-rise CBD apartments have performed very poorly with significant vacancies and falling values with few buyers interested in these.<\/p>\n If you can afford a house in a good location, then that's probably the way to go.<\/p>\n But if your budget doesn\u2019t allow you to buy a house in the right location, I'd rather own a \"family-friendly\" apartment in a good suburb than a house in the outer suburbs.<\/p>\n I\u2019ve already explained that around 80% of your investment\u2019s performance will be due to its location and about 20% due to owning the right property in that location.<\/p>\n For many investors, apartments or villa units offer an affordable entry point into the property market.<\/p>\n Which is best, an old or a new property?<\/p><\/blockquote>\n Just like the houses vs apartments<\/a> debate, old and new properties each have their own benefits. So let\u2019s take a look at the benefits of old versus new.<\/p>\n Note: <\/span>Investing is really a game of finance so, when it comes to good property investment advice, a sound financial strategy is just as important as a sound investment property strategy.<\/p><\/div><\/div>\n Without a well-rounded understanding of how to maximise your borrowing power, use equity to buy your investment, build your portfolio and maintain a financial buffer to see you through the difficult times that we all ultimately face, you\u2019re setting yourself up to fail financially.<\/p>\n This will often mean taking an interest-only loan<\/a> for your properties, because rather than paying the principal back each month (lowering your debt); the extra cash flow could be used to service a bigger debt and support a larger property portfolio.<\/p>\n The next step to get started in property investment in Australia is to have a clear understanding of the pros and cons of why to do it.<\/p>\n Understanding WHY property investing is a safe and proven method for growing your wealth can help make the best financial decisions during the property investment process.<\/p>\n The pros include:<\/p>\n But, of course, property investments are not all rainbows and lollipops, there are some cons associated with investing in real estate, such as:<\/p>\n Once you understand the pros and cons, the next step is to become aware of the risks and learn how to minimise them.<\/p>\n The property market moves in cycles<\/a>, and at times, there are external factors that cause a market-wide slowdown or downturn. Liquidity is the ease with which you gain access to the money you have within an investment.<\/p>\n Note: <\/span>One disadvantage of real estate investments is the lack of liquidity compared to other types of investments. Your situation may change abruptly due to a change in life circumstances, but you may be stuck with your property for several months or years, depending on the local market cycle and your financial situation\/requirements.<\/p><\/div><\/div>\n Having said that, the lack of liquidity is one of the reasons the housing market is less volatile than the sharemarket.<\/p>\n A rise in interest rates will affect variable-rate mortgages, meaning the cost of your debt can increase as interest rates climb, putting a strain on your cash flow. Most properties are not \u201cinvestment grade\u201d and if you didn\u2019t do enough due diligence and buy the wrong property in the wrong area at the wrong time, you could face years of slow or no growth or worse, no income due to a high vacancy in the area.<\/p>\n If your tenant leaves, you could face a cash flow squeeze for a short while, and if you lose your job, you may be unable to top up your rent to meet your mortgage repayments.<\/p>\n Foreign buyers who are investing in property in Australia are also subjecting themselves to currency risk, which is dependent on the movement of the Australian dollar.<\/p>\n There are also sovereign or legislative risks in the property market, as any unfavourable government action can result in investment losses.<\/p>\n A good example of this is the possibility of changing negative gearing rules - which seems to come into discussion each year around budget time \u2013 a move that would substantially increase investor confidence.<\/p>\n As you can see, any investment property strategy<\/a> involves some level of risk.<\/p>\n So, strategic investors must learn how to minimise these risks.<\/p>\n One way of minimising their risk is to have a financial buffer in place (such as having fun in an offset account) for any unexpected investment expenses.<\/p>\n This will allow you to keep their properties well maintained and cope with any unexpected maintenance or vacancies.<\/p>\n All property investors should also consider taking out income protection and life insurance as well as landlord\u2019s insurance to protect their interests.<\/p>\n Of course, this recommendation is based on the fact that one of the most important factors in an investor's ability to keep growing their property portfolio is their ability to service their loans and use their income to supplement the rental shortfall in the early years.<\/p>\n Note: <\/span>Without an income, you may not be able to hold on to your properties.<\/p><\/div><\/div>\n Similarly, if you die, you would need to consider how your spouse would be able to continue holding the investment properties.<\/p>\n Tip: <\/span>I suggest you make sure they have insurance to sufficiently cover mortgage repayments if the worst should happen.<\/p><\/div><\/div>\n I'd also recommend that you seek advice from an accountant before purchasing an investment real estate to ensure you buy it in the most tax-effective manner.<\/p>\n Once you\u2019ve bought your investment property you\u2019ll need to arrange an investment property depreciation schedule<\/a> to ensure you claim the most in deductions.<\/p>\n And no matter your age, it\u2019s wise to consider estate planning because, while we never like to talk about it, it's essential to plan to look after your family after you\u2019re gone.<\/p>\n This means you should see a solicitor and prepare a will, choose executors, and organise a power of attorney.<\/p>\n Finally, it\u2019s essential to treat your investments like a business and regularly review your portfolio with your property strategist to track its performance, ensure you have the right loans and best interest rates, and assess when you\u2019re ready for your next acquisition.<\/p>\n The penultimate piece of the puzzle when it comes to learning about how to invest in property is understanding the expenses that come with being a landlord.<\/p>\n Of course, you might be able to tick off all of the above steps, and you may understand what it takes to pick the right property for the best price, but do you understand the financial commitment once it finally becomes yours?<\/p>\n This is where many beginner investors get caught out.<\/p>\n Obviously, topping the list of the most common property expenses for investors is loan repayments, the amount of which varies depending on the borrowed amount, loan type, loan term, and loan service fees.<\/p>\n And, as you continue to hold and maintain your investment property, you may also need to pay for land tax and council rates, which vary by government area.<\/p>\n For apartments and townhouses, there are also body corporate fees paid quarterly to assist in their upkeep.<\/p>\n Building and landlord insurance are a must in limiting the financial impact of unforeseen circumstances, like sudden damage costs and tenant-related liabilities.<\/p>\n Other fees to take into account include property management fees, advertising for new tenants, and repair and maintenance costs.<\/p>\n One of the most difficult aspects of property management is anticipating the costs of maintenance and repairs. Furthermore, sometimes these costs are not tax-deductible.<\/p>\n Repairing an item \u2013 such as a cupboard door \u2013 is tax-deductible.<\/p>\n However, improving the same item \u2013 such as replacing all cupboard doors with a newer, more modern style \u2013 is considered a renovation, which is not immediately deductible.<\/p>\n Tip: <\/span>To create a budget for repairs and maintenance, it\u2019s a good idea to estimate how much it might take to replace the \u2018big ticket\u2019 items throughout the property, such as dishwashers, hot water systems, and carpets.<\/p><\/div><\/div>\n Determine their current age and life expectancy.<\/p>\n Based on those figures, calculate the remaining life expectancy of the item.<\/p>\n Rank all the items in order of increasing estimated remaining life expectancy, and plan accordingly for these anticipated expenses in the next five years.<\/p>\n One of the biggest reasons why investment property remains popular in Australia is the whole raft of tax benefits available. Things like claiming legitimate business expenses of running your investment business as well as negative gearing, which allows investors to offset any shortfall between the rent that you collect from your property and the expenses that you pay for it against your other income.<\/p>\n However, if you sell a property at a profit, you\u2019ll need to pay capital gains, but even this has adjustments, as you can currently benefit from a 50% discount on capital gains for a property that you\u2019ve held for longer than 12 months.<\/p>\n Renting out your property allows you to earn an income from your investment, but you really need to employ a proficient property manager so that your investment property is well-maintained and continuously tenanted.<\/p>\n Your property manager is responsible for a number of things, such as advertising your property, receiving enquiries during the leasing process, and screening and selecting tenants. They also help to make sure that your property is maintained, with repairs and updates performed as needed.<\/p>\n Most importantly, as your property manager is responsible for collecting rent, they follow a clear process in accordance with the law.<\/p>\n Aside from the initial fees that you need to pay when buying an investment real estate, you also have ongoing costs like council and water rates, insurance, body corporate fees, land tax, property management fees, and maintenance and repair costs.<\/p>\n These expenses are usually tax-deductible.<\/p>\n When it comes to insurance, you must not only take out building insurance, but you should also consider landlord insurance because this will protect you if a tenant damages the property or leaves without paying rent.<\/p>\n Repair and maintenance costs should also be factored into your budget.<\/p>\n Should you manage your property yourself to save money?<\/p><\/blockquote>\n Sure, you can eliminate property management costs if you choose to manage your investment property yourself, but in my mind, this is a sure way to disaster.<\/p>\n \r\n\r\n\r\n They can also advertise your property astutely to avoid long vacancies.<\/p>\n When it comes to tenants, property managers can screen them and manage all aspects of the landlord-tenant relationship.<\/p>\n They also often have connections with contractors, suppliers, and maintenance workers, if ever you need one.<\/p>\n Property managers are also knowledgeable about housing regulations and property laws<\/a>, so you can be sure that your properties are always complying with them.<\/p>\n While this isn\u2019t technically a property investment for beginners \u2018step\u2019, this step-by-step list wouldn\u2019t be complete without it. Here are 10 of the most common property investment mistakes beginners make, and some tips on how you can overcome them in order to win big with real estate.<\/p>\n When buying a home, about 90% of your purchasing decision will be based on emotion and only 10% on logic. When it comes to investing, however, letting your heart rule your buying decision is a common trap that must be avoided at all costs.<\/p>\n Allowing your emotions to cloud your judgement means you are more likely to over-capitalise on your purchase rather than negotiate the best possible price and outcome for your investment goals.<\/p>\n Beginning property investors should always buy the property based on analytical research.<\/p>\n What are the local demographics? Will this lead to the capital gains and returns you require?<\/p>\n Is it the best location to attract quality tenants? That\u2019s tenants who can afford to pay you increasing rent over the years rather than those who are only a week away from being broke.<\/p>\n Will it appeal to the owner-occupier market that sustains property prices in the long term?<\/p>\n By answering questions like this, rather than buying a house because you loved the curtains or thought it would make a good holiday retreat, you\u2019re thinking based on financial gain rather than personal feelings.<\/p>\n And at the end of the day, investing is all about economics, demographics, and finance and not emotions.<\/p>\n It\u2019s an old adage but very true: \u201cFailing to plan is a plan to fail.\u201d<\/p>\n The key aim of most beginning property investors is to build a lucrative property portfolio.<\/a><\/p>\n One that will one day give them financial freedom and choices in life.<\/p>\n However, doing so without a plan of attack is like setting out on a road trip without a map\u2026you\u2019ll inevitably take a wrong turn and end up lost!<\/p>\n You see...attaining wealth doesn\u2019t just happen, it\u2019s the result of a well-executed plan.<\/p>\n In reality, planning is bringing the future into the present so you can do something about it now!<\/p>\n Successful wealth creation through real estate requires you to set goals, determine where you want to end up, and then devise a cohesive plan to get there.<\/p>\n You need to focus on both the short and long term and ensure your investment decisions gel with your overall strategy.<\/p>\n Work out what you want to achieve with regard to income \u2013 are you chasing short-term yields or long-term capital growth - and how you can best manage your cash flow as a smart investor.<\/p>\n What type of property do you need to buy in order to meet your income goals?<\/p>\n With a carefully thought-through outline of your investment journey, you will end up exactly where you want to be.<\/p>\n So plan your action and then activate your plan.<\/p>\n Two of the most common traits of budding real estate investors who never make it beyond their first property (or sometimes never even make it to their first!), are either acting too impulsively or being overly cautious and never acting at all. They think they have to have it all yesterday.<\/p>\n They attend one webinar or buy into the first crazy scheme they\u2019re sold without thinking it through, and when it doesn\u2019t make them rich overnight, they lose heart and throw in the towel, saying property just isn\u2019t for them.<\/p>\n The second group is procrastinators, who are their own worst enemies.<\/p>\n![\"Getting](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2024\/04\/getting_started_in_property_investment-800x457.webp\")
<\/p>\nStep 1: Learn how to take money through property investment<\/span><\/h2>\n
\nYou can profit from real estate in one of five ways, and if you get the combination right, you\u2019ll make money from bricks and mortar.<\/p>\nCapital growth<\/h3>\n
\nThis will come from strong demand from owner-occupiers (who push up property values) and tenants (who help you pay your mortgage).<\/p>\nCash flow<\/h3>\n
Tax benefits<\/h3>\n
Accelerated growth<\/h3>\n
Inflation<\/h3>\n
\nInstead, they have learned to use other people's money to leverage and gear.<\/p>\nStep 2: Understand the property investment phases and strategies<\/span><\/h2>\n
\n
Step 3: Capital growth or cash flow \u2013 know the difference and which is better.<\/span><\/h2>\n
<\/picture><\/span>![\"bulb](\"https:\/\/propertyupdate.com.au\/wp-content\/themes\/oldpaper\/img\/bulb.svg\")
<\/picture><\/span>Step 4: Understand property market cycles<\/span><\/h2>\n
<\/picture><\/span>![\"Compounding\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2017\/06\/Compounding.png\")
<\/a><\/p>\nStep 5: Learn how to choose the right property to buy<\/span><\/h2>\n
\n
<\/picture><\/span>\n
\nIn general, they\u2019re the more affluent or gentrifying inner- and middle-ring suburbs of our big capital cities, so I check the census statistics to find suburbs where wage growth is above average.<\/li>\n\n
<\/picture><\/span>
\nThat's why I recommend employing a property strategist<\/a> like the wealth specialists at Metropole<\/a> as your guide.<\/p><\/div><\/div>\n\n
\nLet\u2019s face it, when it comes to buying big-ticket items we all love new, shiny things, but without a doubt, for the majority of investors, established properties will always offer far better capital growth potential than a new build for a whole number of reasons.<\/p>\n\n
<\/picture><\/span>Step 6: Understand the pros and cons<\/span><\/h2>\n
\n
\n
Step 7: Know the risks and how to minimise them<\/span><\/h2>\n
1. Market risk<\/h3>\n
\nInvestors who focus on a long investment time horizon weather these storms as capital city markets eventually correct and recover.<\/p>\n2. Liquidity risk<\/h3>\n
<\/picture><\/span>3. Interest rate risk<\/h3>\n
\nHowever, it is likely that we are now at the peak of the interest rate cycle and interest rates will eventually start to fall.<\/p>\n4. Buying the wrong property<\/h3>\n
5. Cash flow crunch<\/h3>\n
6. Currency risk<\/h3>\n
7. Legislative risks<\/h3>\n
<\/picture><\/span><\/picture><\/span>Step 8: Understand the common expenses real estate investors must pay<\/span><\/h2>\n
![\"Common](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2024\/04\/common_expenses_property_investors_must_pay-800x457.webp\")
<\/p>\nSo, how much should you budget for repairs and maintenance?<\/h3>\n
\nThey can occur at any time, plus the expenses vary greatly depending on the age of the building, the nature of the repair, and any insurance policies in place.<\/p>\n<\/picture><\/span>![\"Repairs](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2024\/04\/repairs_and_maintenance_of_investment_property-800x457.webp\")
<\/p>\nWhat about the tax breaks?<\/h3>\n
\nNow, my advice is that you shouldn\u2019t invest solely for tax benefits, but they\u2019re a nice little bonus that makes keeping your property easier.<\/p>\nProperty management also comes with a fee<\/h3>\n
Step 9: Understand how NOT to invest in property<\/span><\/h2>\n
\nWhile the above points will help set you on the right path, teach you what to look for and how to pick the right property, understanding what NOT to do is equally important.<\/p>\n1. Listening to your heart over Head<\/h3>\n
\nThis is understandable, as your home is where you\u2019ll raise a family - it\u2019s your sanctuary.<\/p>\n2. Failing to plan<\/h3>\n
3. Diving in or dithering<\/h3>\n
\nThe first is being in too much of a hurry.<\/p>\n