Investing in property is a great decision that will reap enormous financial benefits for many years to come. Unfortunately, most people delay the decision to invest in property until they are well into their 40s or 50s. However, in reality, one of the secrets to success in real estate is to begin early. So if you’re reading this in your 20s, then consider yourself very lucky because you have a golden opportunity to secure your financial freedom early in life, thereby avoiding painful regrets down the line. Here are the top five reasons why you should begin the journey to property investment today:
- Fewer financial obligations
The facts speak for themselves in this case. As a young person entering the job market, you have much fewer obligations than someone who is in their mid-30s who has a family with children. This means that your 20s might be only time in your life when a relatively high percentage of your income can be made available for property investment. So take advantage of this by channeling your disposable income towards real estate.
- Building has never been so easy!
It’s no secret that the property market has seen an enormous shift in recent years. No longer are people focusing on buying existing homes, but rather, building your own home has become the preferred method for new investors. By getting an amazing home builder such as Q Coast homes, you’ll soon realize that building a home is very easy and affordable! In addition, building your first investment home will mean that you’ll be able to fetch a much higher rent as all the appliances and features are brand new.
- Extra source of income
This is perhaps one of the greatest advantages of investing in property in your 20s. Many things can happen over the course of your life, from job loss to health complications and a myriad of other challenges that can threaten your financial security. For this reason, property investment will provide a regular supplementary income that will help you stay afloat even when times are tough.
- Boosts credit ratings
From student loans to bad debt, there are many things that can affect your credit rating. If you are in a position to take a home building loan at an affordable rate, then this will greatly boost your credit rating. Staying consistent with your payments while in your early 20s will put you at a great advantage when borrowing money for other projects in future.
- Cultivates a saving culture
Let’s be honest, we’ve all made decisions that we regret. And financial mistakes often bear the worst consequences. Investing in a home before the age of 30 will help in cultivating an amazing culture of financial discipline. This trait will be an invaluable asset to you in the coming years when you’ll need to save for other major projects like your children’s education, retirement and vacations.