Want to get really rich? Invest early in residential real estate

Written by Mukesh Goyal, Partner, Auric Group

Real estate is currently considered one of the most profitable investment avenues. Those who choose to invest in real estate can also expect to see their money grow as the world becomes more cosmopolitan and businesses expand.

People usually invest in real estate later in life after they have amassed a substantial amount of money to invest. Buying a home is a dream shared by every young man and woman. Many people work their whole lives to buy their first home while others do it early in their careers. Most young working professionals do not plan to be owners.

However, times are changing and millennials are looking to invest in real estate before the age of 30. Therefore, if done correctly, real estate can be a great vehicle for wealth creation if individuals take the time to educate themselves about the process. and the best methods of profit maximization. According to experts, there are many advantages for young people who decide to invest in real estate.

Here are some advantages that one can enjoy by investing early in their age and enjoying a truly rich life.

Acquisition of assets

Buying a home at a young age will provide you with a reliable and valuable asset. You can be sure that even if nothing else works, you have something to lean on. If you buy land in your twenties, its value will increase and your return on investment will increase after 10 to 15 years.

Fiscal advantages

When you make a good living, tax breaks and savings are a top priority. Buying a property early in your career can save you a significant amount of tax. A home loan offers the buyer many tax advantages.

Rent savings

If you decide to buy a house early in your career, you can save a lot of money on rent. When you buy a house, you can get a home loan and use the money that would have been spent on rent in the form of monthly equivalent payments (EMI). Therefore, if your income range and other factors are adequate, investing in real estate early in your career is a wise move.

You can retire earlier!

If you start investing early, you will reap the benefits quickly. This allows you to retire early and travel the world, read books, or tick off items on your to-do list. If you invest at age 50, you will have about ten years to achieve your goals. However, if you start investing when you are 20, you can earn money and retire at 40 or 50 and have a happy retirement.

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