REASONS TO INVEST IN REAL ESTATE AT A YOUNG AGE
Many successful global figures have cashed in millions from real estate investments at a young age. They were fully aware of the need to make an early long-term investment in order to enhance their financial security. Take Kenneth Edet for instance, who made his first million from real estate by the age of 22. He started a real estate investment by buying a single-family apartment. After building his portfolio, He acquired more properties and started earning rental income.
Investing in real estate at a young age has a lot of advantages. These include:
RENTAL INCOME AND TIME BENEFIT
Investing in real estate at an early age will help you earn extra finances through rental income. Renting your property is also a great way to build up your savings for making your other dreams come true, such as traveling the world or pursuing higher studies.
As a young person, your most precious financial asset is time. Real estate investments require time to research, plan, and manage. With plenty of this in the bank, there’s nothing to stop you from finding, securing and reaping the most benefits from your real estate investments.
FASTER APPRECIATION RATES
When you invest in a property at a young age, you will have a longer time to witness the appreciation of its value. Longer the time of investment, greater will be the value of your property. Generally, property appreciation rates depend on a variety of factors such as location, inflation, market demand and overall economic conditions of the country. A residential property in one of the burgeoning localities of the city usually witnesses an annual appreciation of 10–20% over a long period of time.
EARN RENTAL INCOME LIKE MR. ROLAND OKOYE
BETTER ACCESSIBILITY TO LOANS
Youngsters in late 20s and early 30s have a higher scope for loan eligibility as they have lesser financial obligations and more years of active professional life. Unless you’re blessed with a handsome inheritance, you need finances to buy real estate. One of the biggest advantages as a millennial is that you will have around 30+ years to pay off loans, making you readily eligible for longer loan repayment periods at lower rates of interest. This is primarily because as a millennial, you have greater scope in terms of income growth as compared to other demographics of the society.
If you do your homework right, you can find investment properties with great payment plans. Many developers allow you to put in 10 to 30% as a down payment, and work out the rest over the course of a few years.
Hence, it is ideal to make your real estate dreams a reality at a young age as you can complete the loan repayment by the end of your professional life.
SMART SPENDING AND HUGE SAVINGS
The moment you invest in real estate, you lock in your money, or at least a good part of it. That way, you steer clear of unnecessary expenditures. If you find your bank balance dwindling faster than you can keep track of, you might want to consider getting smart about your spending. Think of a real estate investment as a fixed savings account. Especially if you’ve taken out a loan, you’ll have to think twice before spending your wealth.
Millennial homebuyers can enjoy the twin benefits of spending smartly along with ensuring an abundance of savings for the future.
RAINY DAYS: THE BEST DAYS FOR HOUSE HUNTING
EARLY RETIREMENT
You may be nowhere close to retirement just yet, but it’s never too early to start planning for your future. Real estate investment at a young age is ideal as it offers more financial security than other forms of investment like mutual funds or gold. If you invest in real estate at an early age, you’re left with a good 30 to 40 years till retirement. That gives you time to overcome your initial payment, make money on top of it, continue to secure steady cash flow, and see amazing rates of appreciation. And also, taking into account the uncertainties of life, it is always advisable to have an emergency fund to withstand instances of loss of a job or ill health. Investing early in real estate can help in sheltering yourselves from these unpredictable situations, apart from making your retirement more secure and happier.
The chances of reaping huge financial benefits at an early age is high when you make a wise real estate investment. However, millennials must take into consideration various factors such as location, the reputation of the builder, social infrastructure and important amenities.
If you are planning to invest in real estate without going through the stress of looking for property and getting into the wrong hands, contact Middlechase Property Limited and take advantage of the real estate opportunities that have attractive returns, capital appreciation, with readily available financing options and relatively low cost of real estate ownership.
To know more about Middlechase Property Limited, click on the link below: Middlechase Property Limited or call 08186577504.
