It’s never too early to invest in Real Estate
Most of us may feel twenties is too early to make serious investment plans. Most would be out of college and a year or two into the job. The new found freedom of money usually pushes youngsters towards partying, travelling and spending on expensive things. This is definitely not uncommon or unfair except that making some smart investments in real estate at this age is really beneficial and profitable in the long run. Imagine retiring comfortably with a decent passive income at 50. Yes, it is possible only if you begin making your investments into real estate early on. Here are a few tips to help you succeed.
Firstly, gain market knowledge. Read or speak to people in the industry to learn about those emerging areas with potential for growth. Learn about development plans, upcoming infrastructure projects and connectivity to schools, hospitals, malls etc. Learn about the promoters, their offering, their track record, legal status and more… all so critical to ensure you make a wise investment. Learn from those who have invested and succeeded. Take their advice on how to factor, assess and accommodate these investments.
Next, look long term. This is so crucial considering it is real estate. Give it a decade to two-decade window. That’s how much time it takes for a town or community to develop and deliver returns.
Importantly, get to a savings habit very early. Put aside some money periodically even if you don’t have a permanent job. Consider taking a loan once you have a permanent job and identify the best loan for you in terms of terms, flexibility, pre-closure etc.
Focus on maintaining a good credit history. Pay your credit card bills in time and ensure you have enough cash when you issue a check to someone. This will be crucial to supporting your plans in the future.
Last but not the least, explore all opportunities to get some income from your property. If you are investing on an apartment explore the possibility of renting it for some passive income. If you have land, explore the possibility of leasing it – for a small farm, or a resort, or a training course or something. Don’t wait for too long because the time is right. The prices are near-fair and there are a range of properties available to suit your budget and location. The crucial part is to do it now! Just begin and ensure a safe future as you grow.
Apranje Estates, one of Bangalore’s fastest growing names in real estate has a range of plots of various dimensions in areas including Chikkaballapura, Devanahalli and Nandi Hills, all locations with tremendous growth potential. Do choose a plot that fits your budget best and enter the club of early investors. Rest assured of attractive returns over time…
This content was originally published here.