By 2021, It is predicted that a large proportion of home buyers and real estate will include Millennials. Why not get a head start in the financial game in life early? It might be daunting to get into real estate young but and may seem challenging, but it is definitely not impossible! Here are a few reasons why you should invest in real estate young.
One thing about millennials is that they tend to have a more flexible personal life. They aren’t tied down with children or elderly parents. Investing in real estate takes time to acquire the knowledge required. It takes a lot of surveying and paperwork to purchase a home. This is why millennials have the added advantage of leisure.
Beyond the idle hours, millennials tend to have flexible budgets. They don’t have expenses like a child’s school fees or a spouse to support. This means they can put a bigger percentage of their pay checks towards real estate investments.
Millennials tend to be more open to the idea “House-hacking”. House-hacking ins when you rent out a spare bedroom or acquire a housemate for the purpose of covering the mortgage or having financial flexibility. What might seem unconventional for the older generation might simply be what’s right for the younger generation.
When you start investing young, you get the benefits early. You have the option to retire early, take that cruise ship around the world. Investing early gives you the satisfaction of retiring for a comfortable living. If you invest by the age of 25, you have at least another 25 years before you hit your retirement age.
Learning the art of real estate investments will take time and research. However, with the right decisions, you can be set for a very comfortable life!
