Want to buy that property you have your eyes on since a long time?
You have been deferring it due to various reasons including other important objectives prior to it, thinking of settling down, market sentiment or even the fact that your gut feel says that it’s not the right way to go!
Whatever, the case maybe you are not on the buying mode as they say.
So let us fix the perspective of buying in today’s scenario. We present to you the upside of being a buyer given the market conditions at present.
Few Points to consider while buying a property:
Keeping the above factors in mind and considering the fact that you think you have other priorities; let’s think from the perspective of delaying buying a property.
So you have it all planned up. However, as you progress up in the ladder of life as well as work there are added responsibilities that are ready to take priority in life.
Your life gets busier and you do not have the time and energy to invest in looking out for such a need. You get married and have a family to look after. Further you have kids who need to grow up and need your time, money and effort. Their education, higher ambitions and marriage plans need to fall into place.
As a result you keep pushing and delaying. End result you end up paying rent that is a sunk cost which never comes back. Or you are staying with parents/ parental house that have retired and have their own stuff and house falls short.
You realize that you have lost precious time in thinking that you will save and deferring the need to take a loan so that you can use the money you earn for other important needs. Planning for a house or the office for your own business took the backseat.
Keeping in view one needs to plan and align the need of getting your property at the right time.
To cut a long story short backed by your own place in this uncertain environment is the first thing one should plan for. This is very essential as personal security is of utmost importance.
Have a roof over your head; one can lead a life full of serenity. Once this need is taken care of one can plan for other big things.
Many important decisions of planning a family, that dream vacation, the car you are longing for can easily be done.
One can easily save to make a down payment and avail a loan and peacefully own their own place over EMIs that are relatively easier and friendly than earlier.
Investing in property versus other assets is beneficial as it appreciates, other assets have a useful life and are subject to depreciation and lose value over their amortized life. This is amongst the biggest advantages of this kind of investment.
Also, the earlier you do the more disciplined you are. It helps one ascertain and plan first for one’s own space that is solely yours and the sense o belongingness that it gives.
Investing wisely and being thoughtful of all above considerations draws us to the conclusion that one should make the effort to build their own nest without further ado.