When is it necessary to pay a premium for property?

We’re now entering the heart of Melbourne’s Spring property market – when buyer competition is usually at its most fierce.

This upward shift can often wrong foot buyers, who fail to meet the market and resist paying a necessary premium for quality properties.

What often unfolds can be a painful, but an all too common scenario.

The market races away. High-quality properties, once within their price range, move out of reach – leaving them on the sidelines or having to settle for something lesser.

No one wants to pay a premium for property, but sometimes it's an imperative.  

Jarrod looks at the What, Why, When and How when considering whether you should pay a premium for a property.