Property investing is one of the most powerful wealth-building tools available to Australians — but only when decisions are made for the right reasons.

In a recent discussion, Richard Crabb, principal of the Aspire Property Advisor Network, highlighted what he sees time and time again as the number one mistake holding property investors back: buying with emotion instead of strategy.

It’s a mistake that can quietly cost investors tens — sometimes hundreds — of thousands of dollars over the long term.

At IFP Advisory, we see this play out regularly, which is why Richard’s insights are worth paying attention to.

Why emotion and property investing don’t mix

Most people don’t realise they’re buying emotionally — because it doesn’t feel irrational at the time.

Common emotional drivers include:

• Wanting to buy in a suburb you grew up in

• Choosing an area you’d happily live in yourself

• Feeling “safe” buying close to home

• Falling in love with a property rather than analysing its performance

As Richard explains, none of these factors have anything to do with whether a property will perform well as an investment.

The result? Investors often:

• Overpay

• Buy in locations with poor long-term growth

• Accept lower rental yields

• Miss better opportunities elsewhere

Property investing is a business decision — and emotional decision-making can undermine even the best intentions.

Investment property is not about lifestyle

One of Richard’s strongest messages is this:

“Your investment property doesn’t need to suit your lifestyle — it needs to suit your strategy.”

Many investors blur the line between a home and an investment. A home is about comfort, schools, cafes and convenience. An investment, on the other hand, is about:

• Population growth

• Employment hubs

• Infrastructure spending

• Rental demand

• Supply and demand fundamentals

A property can look fantastic and still be a poor investment.

Conversely, some of the strongest-performing investment locations aren’t places most people would choose to live — but they make excellent financial sense on paper.

The hidden cost of emotional buying

Emotional buying rarely causes immediate pain — which is why it’s so dangerous.

The real cost shows up over time:

• Slower capital growth compared to the broader market

• Missed compounding opportunities

• Reduced borrowing capacity due to poor cash flow

• Delayed portfolio growth

By the time investors realise the mistake, years may have passed — and the opportunity cost can be substantial.

Strategy first, property second

Richard emphasises the importance of starting with strategy, not property.

Before buying anything, investors should be clear on:

• What they want the property to achieve

• Whether the priority is growth, income, or a balance of both

• How the property fits into a broader portfolio plan

• How it supports future borrowing and long-term goals

Only once this is defined should location and property type be considered.

This is where many investors go wrong — they fall in love with a property first and try to justify it after.

The value of objective advice

One of the most practical takeaways from Richard’s discussion is the importance of independent, objective advice.

When you’re emotionally attached to a decision, it’s very hard to assess risk clearly. Experienced advisors help remove emotion from the process by:

• Analysing data instead of sentiment

• Stress-testing assumptions

• Ensuring finance, tax and structure align

• Keeping decisions aligned to long-term goals

As an accredited property advisor within the Aspire Property Advisor Network, IFP Advisory applies this disciplined, evidence-based approach to property investing.

Key takeaways for property investors

If you’re considering your first investment — or your next one — these are the key lessons to remember:

• Property investing is a financial decision, not a lifestyle choice

• Emotional attachment can quietly erode returns

• Strong investments are built on fundamentals, not familiarity

• A clear strategy should always come before a purchase

• Independent advice helps keep decisions rational and aligned

Final thoughts

Emotion is natural — but in property investing, it needs to be managed carefully.

As Richard Crabb highlights, the most successful investors are not those who buy what feels right, but those who buy what performs well over time.

At IFP Advisory, our role is to help clients make confident, informed property decisions — grounded in strategy, structure and long-term outcomes, not emotion.

If you’d like support reviewing your property strategy or upcoming purchase, we’re here to help.

Thinking about your next property decision?

If you’re considering your first investment property — or reviewing your next purchase — having a clear, objective strategy matters.

At IFP Advisory, we work with clients to:

• Clarify their property investment goals

• Remove emotion from decision-making

• Ensure finance, tax and structure are aligned

• Assess opportunities through a long-term, evidence-based lens

As an accredited property advisor within the Aspire Property Advisor Network, our role isn’t to sell property — it’s to help you make confident, informed decisions that support your broader financial position.

If you’d like to sense-check your strategy or talk through an upcoming purchase, we’re happy to have a conversation.

Sometimes, a single objective discussion can save years of costly mistakes.

For further insights on property investment, avoiding common pitfalls and staying informed about market conditions. reach out to John Tsoulos or Frank Pennisi at IFP Advisory on (08) 8423 6176. Your investment success depends on making informed, strategic decisions.

IFP Advisory is an Accredited ASPIRE Property Advisor Network advisor and all professionals are Qualified Property Investment Advisors (QPIA). Property investing is about purchasing a property that aligns with your goals and investment strategy. You should never be sold an investment. Know your numbers! If you invest wisely and strategically, the Australian residential property market can be a rewarding venture.