“With 356 million 10-24-year-olds, India has the world’s largest youth population despite having a smaller population than China”, says a latest UN report.
The current generation known as tech-savvy individuals with unique skills and fresh ideas. Whether it’s tweeting, texting, chatting, instagramming or sending snapchats, they can juggle many responsibilities at once. Youth of India is enthusiastically learning and attaining mastery in different field. But real estate investment is something which is not on their list.
Real estate is a growing market. Because of the shortage of land, the demand is increasing. One can only experience it if they go house hunting in a city like Mumbai. A shortage in supply means a growth in price, and so long as this shortage persists, the market shall not slow down.
Yet, the youth today stays away from real estate thinking that investing in this field is not their cup of tea.
Investing in your twenties and thirties is not only possible, but beneficial. Here are some of the reasons why:
Investing in real estate at a young age is a cherry on the cake. Young investors have an edge over others on account of their age. In other words, a young investor has more time in hand as compared to a middle-aged investor or who has lesser time to go for retirement.
Real estate investment is more beneficial at a young age, than any other investments. The reason is clear: TIME.
As you age, you don’t get much free time – in fact, the older you get, more obligations seem to compile. As you age, there are multiple family responsibilities that needs to be prioritize. But the youth can afford to lock in their investments in real estate as they have fewer obligations.
Adding to the benefit, by the sheer luxury of time that youth has on hand, it leaves a lot of scope for distributing investments over a long period of time, ultimately leading to a substantial increase in the net amount invested. At a simpler level, starting young means your money has that more time to grow and hence, higher returns.
You can’t afford to wait.
Loan is always an option to start an investment in an age where there is less financial solidity. Home loan one of the cheapest loan to get for an investment. This home loan market is highly competitive and this means you can find different types of beneficial features. Once a person reaches 35 and above, the bank may reject the home loan or narrow the period of repayment. Young borrowers, again, have the advantage of a longer tenure, due to which the pressure of EMI payments are balanced.
20 years back, investing in real estate was not as easy as it is now. All thanks to the advancement of technology and the ease of accessing internet. This is the generation who has an in and out knowledge of the internet. How it works generally, how would it work for you, and how would you make it work – it’s an open platform. This is an advantage, because internet is a world of knowledge, if you use it correctly. You’ve got different platforms and websites on the internet to get the right kind of guidance. Jump into the forums and ask question, get into a conversation, understand the case studies and make your decisions accordingly. Your parent’s didn’t have this wealth of knowledge and community.