As someone who’s in his mid-20s, the notion of buying a home or investing in real estate seemed far fetched. To me, and young people in general, the thought of making such a substantial investment feels like it should be considered when you are well into your 30s or so; the 20s are there to take it easy and enjoy life. But the more I thought about it the more I realized why now is the perfect time to invest in real estate. While my train of thought might not align with everyone else’s, the following reasons for investing in real estate should make a strong case for it.
The first reason to invest in real estate that comes to everyone’s mind (including mine) is solidifying the future. But… what exactly is solidifying the future? The entire phrase seems vague and wrapped in mystery. It is a phrase that our older generation always talks about. Essentially, it means having a place of your own and not worrying about where to live as you grow older. That is, in fact, one of the most compelling reasons for investing in real estate when you put some thought into it.
‘You are never too early to start’ is a common saying in the world we live in. While the saying is usually associated with children’s’ skill learning, it’s also suitable when talking about investing in real estate. We usually have more economic freedom in our 20s and, not to mention, fewer dependencies. This allows us to make opportune financial decisions like deciding to invest in real estate. It also leaves young professionals more time to save up and repay any taken loan, which, to be honest, is necessary to make such a hefty purchase. But fret not as the corporate world today allows young professionals the opportunity to climb the ladder of success quickly.
If you are going to invest in something, why not invest in something that is less prone to value fluctuations. You’ll never hear the value of a real estate drastically go up or down in a short time. It is usually a lengthy journey, and even the quickest change can take a year or so. This gives you more time to forecast the demand and price of your property and come to a decision. All in all, real estate is a stable investment that young professionals can get behind.
Another reason to invest in real estate, that seemed the most compelling to me, is that the value only seems to go up. I know that’s not always the case, but when is the last time you heard the price of a property go down? Even if the value goes down, it is only for a few years before it bounces back stronger than before. The reason behind this is simple; it is a limited resource, which only ever goes up. This is one of the biggest reasons to invest in land. Young professionals can also expect the same result when investing in residential and commercial spaces. That means the resale value will be better.
Saves Money in the Long Run
In terms of investing in an apartment, your own place will save you a lot of money in the long run. If you are lucky enough to live with your parents or guardians and not worry about rent, good for you. But if you are responsible for your own lodging, you need to pay rent. Even with the added interest of the home loan, the cost of buying an apartment will be less than that of paying for rent the entire time; as rent and cost of living in Dhaka continues to rise.
So, why should you, me, and all young professionals invest in real estate or buy an apartment?? To have peace of mind and make a sound investment for the future. Young professionals tend to have more luxury and opportunity than others. As the saying goes, strike while the iron is hot.