Some people state that making it rich is a topic of luck, but based on past market data, and the knowledge of lots of other people who have made it, there are certain important key factors that you have to view if you want to succeed in real estate investments.
1) Start Early - For a longer investment Time Horizon
There are many gains to begin early as you would be able to take advantage of the longer period to invest in properties. This is peculiarly so since most homebuyers would take a loan to finance the purchase of the condo. The younger you are, the longer the loan period you can secure, so leading to a lower monthly instalment. On top of that, your commitments and obligations are lower.
Potential real estate buyers should jump now and think the following factors
- Your ability to pay the flat;
- The bank willingness to extend a loan to you and;
- Your long term view on possessing on to the flat
2) "Don't wait to save enough for your Dream Home - That never really happen"
Many of us handily and often put off the decisiveness to buy in a home because we want to save adequate to get dream unit, which usually mount with a great initial capital. That never genuinely takes place.
When you have a condo, your flat will keep pace with the market (regardless of whether it is becoming down or up) and if you realise (and you make make sure you have the ability to hold out during the down market and increasing interest rates, you will likely be able to make a capital gain and accumulate up assets that can be re-invested in better properties that come with greater potential in the long term.
Therefore, it really pays to invest early as soon as possible and DON"T wait till you have saved sufficient for your dream home which may NEVER happen place in the first place.
3) "Plan Ahead, Prioritise - Your Lifestyle determines how rich you will get"
Lifestyle is a CHOICE! It is up to you to decide what you want. Nobody should, or can, force you to invest in real estate if you are not ready. UnfortunatelyAlasUnluckily, when we are young, not many of us will realise the benefit of investing in properties. We often fail to plant ahead and more often than not, we squander away our precious savings in partying and other luxuries.
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