Buying Property to Last Until Retirement

Author
YNM Real Estate
Date
19 December 2021
Category
News

Investing in a property can be a wise option for many, but have you thought about property investment to create a retirement fund? We delve deeper into why property is the smart investment move to make today!

For a sound retirement plan, you should consider investment properties, however, do not try to overburden your finances. If you decide to invest in a property, it is key to consider these quintessential factors.

  • Decide if you want to buy a house or unit/apartment/condo. Both have their own advantages and disadvantages, work with your real estate agent to figure out what will be the best investment decision for you.
  • Will you be renting out the unit or house on a long or short term (holiday) rental agreement? Ideally, you need to monetise the property, to its max potential.
  • Choose a location wisely. Go for established suburbs, go for neighbourhoods where the demand is greater than supply, opt for places that have low vacancy rates and where flipping homes or being a part of body corporate will be much easier. Talk to your real estate agent on areas you are familiar with, but also ask them for input into good investment areas.
  • Finally, buy what you can afford, be diligent with your choices and make an informed selection, hire a reliable property manager and above all stay sincerely dedicated to your investment property to make money till you retire and thereafter.

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