5 Reasons why people should invest in property
If you are young and you are thinking of buying a home, consider turning your 1st home into an Accrue property. While many people wait until after they have purchased their 1st or 2nd home to start investing in real estate, you start earlier than you think.
Let us look at the following 5 reasons:
· You are young - Being young is simply amazing. Building credit and saving money are not impossible and they are part of what you need to qualify for a mortgage loan. Your present lifestyle may actually permit you to cut costs in a way that may be impossible in later life when you have greater obligations.
· Delivers financial freedom - Having financial freedom means freedom in all fields of your life. Instead of depending on others you are relying on yourself to fulfil your needs.
· You will have another source of income - If you are buying a property that you plan on renting, you will profit off your investment soon. Then you can reinvest that profit in your property or use it for another purpose.
· Hedges against a reduction in purchasing power – A basic reason to invest is to save you against inflation. If your properties earn above the inflation rate then you can be assured that you will have the finance you need throughout your life.
· Reduces your tax – Some will argue that it is a bad thing to reduce tax but investing in property help to reduce the tax. Your money is earning interest rather much of it is returning to you to use.
Heading towards the investment procedure may prove to be a good idea.