Continuing on the topic of Investing, the biggest investment that anyone will make in their life is on Real Estate. I had always that I was too late to buy a home. It is never so. However one has to decide if he is going to buy a home or not , and if so, Identify the City/Town that you want to buy.
There are two reasons why Investing in Real estate may be lucrative :
1)Rent Avoidance : In urban areas, As the home rent is always bound upward its wiser to buy a house. However, the flip side is the Cost. People with a limit on their budget have to compromise on the locality or size of the home. In my opinion,its still a worthwhile option to buy an home, if you are able to afford
2)Investment : The next best alternative is to buy a property in your hometown or a Tier II city. You may get a better sized home at a better locality at an affordable price. The flip side is you may not earn high enough on rent. This is again a good option given the fact that you can leverage this Property once it appreciates for a better one
If you are not in any position at this point to pursue both of the options above, Start pooling your money in an Investment systematically, that would be become a fund for paying the Owner contribution for getting an home loan. This way you would not lose out in the race for House Purchase.
There are two reasons why Investing in Real estate may be lucrative :
1)Rent Avoidance : In urban areas, As the home rent is always bound upward its wiser to buy a house. However, the flip side is the Cost. People with a limit on their budget have to compromise on the locality or size of the home. In my opinion,its still a worthwhile option to buy an home, if you are able to afford
2)Investment : The next best alternative is to buy a property in your hometown or a Tier II city. You may get a better sized home at a better locality at an affordable price. The flip side is you may not earn high enough on rent. This is again a good option given the fact that you can leverage this Property once it appreciates for a better one
If you are not in any position at this point to pursue both of the options above, Start pooling your money in an Investment systematically, that would be become a fund for paying the Owner contribution for getting an home loan. This way you would not lose out in the race for House Purchase.
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