5 Reasons Why You Should Invest in Real Estate in the Your 20's
We all have the dream of owning a home at some point in our life. Way back in our parents generation, more than half their lives went through in saving enough money to buy a plot. Building a home on that plot was another big investment for them. They usually built their houses in phases, the foundation first, then the walls and finally the roof. Typically the building of a house lasted close to 2 - 3 years! Skip to Gen- next, young professionals who are accustomed to ready-made products and quick money. Let me give you 5 very practical reasons on why you should start off investing in property right from the word go i.e the moment you kick-start your careers.
1.) Drive to earn good money is at the peak
When you start of your career, everything looks good, you are filled with energy and ideas and you will be rewarded accordingly with a good salary as well. Point being the mental make-up is always positive in this phase and buying a property wouldn't be a mental hindrance.
2.)Daily Expenses are relatively Low in the 20's
If you are still living with your parents,what do you typically spend on? Movies, outings with friends, clothes etc right? What do you do with the extra money? Simply let it gain minimal interest in a bank? Not a smart idea.Investing in a home would also gather a long term appreciation prospect as well as an asset which can be used as a collateral for any future need of liquidity that may arise.
3.) Owning a Home Before Getting Married boosts Ego
Tell me I am wrong! Imagine owning your own house before you are married. Staying and starting your married life afresh if you want to. Not many people have such a luxury at such a young age. You will be paying your EMI monthly, then again its better than paying rent! Right?
4.)You always have something to fall back on
You get adventurous with a business venture and unfortunately it goes kaput. What do you do when you are nearly broke? Well if you have a home, you can always liquidate your asset and try to re-start your career again. Another wise decision would've been taken.
5.)Can retire Early if you are Tired
Guess by what age would you have gotten rid of the dreaded EMI for your house? Well if you buy a house when you are 25, I reckon you would've been done by 40 years max. Our dad's generation bought a house when they were 45+! Now that will put some thoughts in perspective! You are free from a big burden at a relatively young age and you can do a lot more with your life. World Tour maybe!These were a few very valid points I thought of and wanted to share with you. Please let me know if there are any more or if you don't agree with the above as well. Either ways with Valid opinions, we are both winners!