The article below was written by Joan Mae Barredo for Avida Living Magazine Issue 02|2015. It is something worth sharing and worth knowing, it may serve as an epiphany for that discerning person who'd like to plan ahead.
photo source: http://kellycaldwell.ca/
Now is the perfect time to jump-start your property investment road map.
Yes, you are young. You are meant to live life to the fullest because of course, you only live once.
You party like never before, shop till you drop, and enjoy your pay and your independent life. That is why financial planning and investments probably never crossed your mind. You think that these are problems best dealt with when you're older. But not all. So think again. Ask yourself: Where should my monthly income really go?
While partying and shopping make you feel like you are enjoying your hard-earned money, they don't necessarily mean you're doing well financially. Do not be alarmed though. All you have to do is have a gradual mental shift on how you view your money. The key is thinking long term- where you're going to live with your own family during your 30's, 40's 50's, or simply when you get old.
With these reasons, you may want to start thinking about investing in real estate while you're still, yes, in your 20's:
YOU GOT TIME
Technically speaking, this means compounding interest- an interest which also earns an interest. In other words, the money that you invest, say when you were 23 will generate more income compared to the money that you invest when you turn 43.
Another thing to take note of is that when you invest young, you also have the time to explore. This may mean committing a mistake and of course, learning from it. When time is on your side, you have plenty of opportunities to study the real estate industry and choose which property players meet your personality and in the long run, learn which ones to trust.
YOU CAN HAVE AN EXTRA INCOME SOURCE OF INCOME
Investing in real estate properties can actually provide you an extra source of income, especially if you're still far from earning a six-digit paycheck. With your technological knowhow, you can easily study market trends and demand. Your first investment can be a studio-type unit in high-rise condominium located at a commercial complex, which you can rent out to your professionals working in nearby companies. With this, you'll have another steady source of income which can cover your property's insurance, tax and maintenance.
After some years, you may opt to sell the property at a higher value and buy another once, which this time around can be a two-story house in a serene subdivision.
YOUR LIFESTYLE WILL CHANGE- FOR THE BETTER
Setting your mind into something of value will pave the way for you to slowly change your financial behavior. You'll start saving, putting money aside for your property investment and realigning your monthly budget- from day-to-day expenses to your rest-and-relaxation allowance. This change will help you become thrifty and teach you how to prioritize your expenditures, which essentially makes you financially disciplined.
If you feel you are ready about planning to head on to this better change, please do not hesitate to explore our many projects. Find exactly what you are looking for. Choose with confidence. Our property selections meet the full range of criteria and needs, a product range spoken of in superlatives. We are Avida- affordable living at its best!
ABOUT ME:
I am an accredited In-house Property Specialist for Avida Land. We are an Ayala Land company. Trust only a reliable property consultant. Get in touch with me today for Avida residential development inquiries.
Mobile #: 0915.898.3220
Email: cathleenannm@gmail.com
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