Buying a property is not a piece of cake, especially if you are in your twenty’s. Generally. when it comes to the matters of property investment, the decision is always left in the hands of the elders.
But what if you are ready to take the next big leap right in your twenty’s? Amongst a hoard of information, tips and tricks available both online and offline, how exactly is one supposed to find the correct way out?
This is why, we at RealtyMonk have decided to bring to you the most important things to keep in mind if and when you are willing to buy a house in your twenty’s.
Most of us move out of our homes during the twenty’s. This switch gives a fair idea of the different lifestyles and an insight into the quality of life that a place supports vis a vis amenity like education, health care and work-culture. Thus, before investing in a property it is mandatory to zero out on a location where you would want to live for the rest of your life.
There cannot be any limit set on the expenditure of a property. Thus, it is smart to calculate your earnings and your savings and fix a budget that you can stick to. While making a budget, it is also important to take note that it shouldn’t put you in a scene of debt. Never buy a home that you cannot afford.
Make it a point to increase your savings to the optimum level. Look up for different investment policies and engage your money in market that gives you a good return. Financial investments not only give good returns, but also goes a long way in tax saving. It is also advisable to find a second source of income and save at-least 40% of your income.
To cut down on your expenditure and increase the savings, there has to be significant changes incorporated in your daily lifestyle. Things like getting a roommate, going for house parties, shopping during sale and taking public transport for commutation contribute a lot in the saving process. Cut down on indulgences that wont matter five years down the line.
Read extensively about aspects like current property rates, hot locations to invest in, legal aspects to look into while buying a property, cost saving effective ways, home décor, feng shui etc. Only through thorough research you will get a decent picture of buying a property.
Apply for a sum that won’t push you into debt. Invest the sum wisely and clear all payments in the due time diligently.
Above all, have confidence and don’t panic. Investing in a property can be easily executed as planned if guided by professionals. Look out for help around. We are an Online Property Management System that takes care of all your property needs, sans any brokerage. Currently, we have a clientele base of over 5000 people, and strive to grow bigger and better in the near future.