With the way the cost of living is rising these days, individuals are looking for other ways to earn. The salary made on a traditional 9 to 5 might be enough to purchase the necessities of life but rarely will it allow you to enjoy the little luxuries. From businesses to stocks, people have funnelled their hard earned money into hundreds of different ventures only to find their finite funds trickling down into loss.
The lack of stability in the fluctuating industries that are stocks and businesses aren’t ideal if you want to make sure that your investment will make a profit.
Today, it seems the best option for those who want to see their money grow and thrive is investing in property.
There are countless benefits to investing your hard earned cash into structures rather than stocks, and here are the top 3 reasons why you should jump in on the property investment bandwagon.
Greater Level of Control
By definition, making an investment is the process of putting out money now to earn more out of it later. The thing about investing in ventures that are unstable is that there’s very little you can do to guide your endeavour towards making a profit. That said, it might not actually be an investment at all because there is no guarantee that you will earn at the end of it.
Take running a business, for example, there are close to a hundred factors that will come into play once you open your doors; such as competition, dead season, advertising, branding, and so much more.
By investing in real estate, however, you get to control your investment and steer it where you want it to go. You choose your tenants, your rate, your repairs.
Likelihood of Appreciation
The thing about real estate is that the probability lies in increased value. If and when this happens, you have the option to either let the equity sit, to refinance the property, or to sell it for the increased value.
What’s nice is that no matter what happens, if and when that value appreciates, you will reap the benefits of the investment.
Tax Write-Offs
When you own a property, there are potential tax deductions that you are able to investigate. There’s a lot of explanation that goes into this, so the best advice is to seek the assistance of a professional accountant to help you through these financial waters.
