Entering your early 30’s marks the start of a turning point in your life. At this point, you begin to worry about what’s in store for your future, and how you’re going to assure that your life is marked by the balance of stability and growth. In this stage, people usually think of ways to ensure that that particular balance is achieved, and the idea of investing on a worthwhile product becomes real and tangible.
Basically, people invest in order to accumulate wealth. It sometimes has its own risks, but the rewards when you study and strategize your investments can be enormous. Right now, one of the most promising investments that people lean on apart from stocks are properties. By investing on the right property, you’ll have a great deal of money for future necessities like education, retirement, medical needs, recreation, and saving up for the future of your family. Here are a couple of reasons why you should buy your own property as early as your 30’s.
1. The long term returns beat the short term issues.
Due to the massive problems brought about by the housing bubble, people have become more wary of buying properties because the housing market can become unstable. In order to deal with that issue, people rented houses, apartments, and condominium units to save money. According to them, shelling out a couple of hundred dollars per month is more efficient than buying a whole property. If you buy properties, you become tied to that investment forever, and if the issues in the housing market materialize again, it could be a very huge problem for you.
However, even though that was a legitimate claim at that time, the current state of the housing market in the US has become stable, predictable, and manageable. Now is the right time to invest. Achieve it by buying a property that might cost a lot of money in the short run, but can sustain you and your family in the long run, once you have fully paid for it.
2. You can profit from your properties by flipping and renting them out.
Apart from holding the job that you currently have, buying a property and flipping or renting them out gives you an additional source of a positive cash flow. Again, it may be expensive at the beginning, but through the years, the investment will slowly come back to you through the form of monthly rents or up to 50% capital gains once you flip and sell those properties successfully. You only need patience, creativity, and a little bit of capital in order to begin.
Buying properties are worthy investments
Whether you are buying a property for profit or for stability, it is an assurance that the returns will more often than not be worth the risks of the short term sacrifices. It has been proven that if you are going to compare renting and buying houses, buying your own property will be more cost-efficient in the long run. Once you own the property, you can either keep it, flip it, or rent it out. Either way, through positive cash flow or through not needing to pay the rising rent prices every month, you are going to get your money’s worth.
In order to succeed in this business, you only need to look for the right property to invest on. You can do this by communicating with an experienced commercial real estate agent who will be able to explain the pros and cons of every property, and how to maximize your utility for your new investment.
Written by the experts at Columbia Real Estate, the most knowledgeable agents for residential real estate in Columbia, MO.