Some of our greatest life lessons come from the experiences of our parents themselves and a majority of us may have heard them lamenting how they had started investing late. But, still, most of us refrain from investing sooner and worry if ‘20s is the right time to invest in those flats in Bangalore. Real estate is a great source of investment if you take the time to do some research and educate yourself about real estate investing. There may be naysayers who may try to discourage you from investing saying that it requires a large down payment, maintenance charges and that buying a home is not for everyone, etc. But numbers do not lie! A whopping 80% of the world’s millionaires own real estate. Additionally, moving to a new home every few years can be pretty stressful. According to the Holmes-Rahe Stress Scale, moving to a new residence is one of the most stressful events that one can experience. House-hunting and renting a new place every few years is bound to take its toll on you mentally and physically. Having your own home will save you from all this stress.
Also, it’s no secret that flats in Bangalore have seen a continual rise in the rental value especially if it is a property in Electronic City. You do have the option to relocate to lower-cost neighbourhoods but then as we have discussed before, moving around is a lot of work. Renting a place comes with its own set of limitations. Your landlord may restrict you from keeping pets, having guests around or even simply hang a frame on the wall. Buying your own place saves you from all these hindrances and lets you live the life that you want. Apart from these factors, the most important reason why you should invest in that flats in electronic city in your twenties is real-estate appreciates over time. If you notice, a lot of successful landlords don’t work as they are financially free and go for early retirement. This is because they can always fall back on their rental incomes. Some of you may feel discouraged from investing in a home because of the high- interest rates. But, then this is short-term thinking. If you can get a well-priced home when the interest rate is low that is great however you cannot make your decision solely based on interest rates. Instead, what you can do is focus on an underpriced home. You can refinance your mortgage when better rates become available but you only get one shot at getting the right price.
To conclude, buying apartments in Bangalore in your twenties is a great idea if you have your finances in order and have thought about the likelihood of relocating in the near future. By investing in your twenties, you’d be debt-free by the time you hit fifty but beware; real-estate investment is not a get-rich scheme. The sooner you start the easier and better it will be for you in the future.