If you’re looking to invest for your future — five, 10, or 40 years off — then now is as good a time as ever to invest in real estate.
There’s no denying that there are multiple processes you need to go through before you can finally become the owner of your own house. For many first time home buyers these processes can often seem stressful, which might make them put off their decision to buy a house. However, the real estate sector has gone through a great deal of changes to make the process for home-buyers simpler than ever before.
Will Rogers once said, “Don’t wait to buy real estate. Buy real estate and wait.”
If you’re waiting for the perfect time to invest in real estate, then wait no longer. Here are four top reasons why you need to invest in real estate at the soonest.
- Property rates are appreciating: Real estate is quite possibly one of the safest investments you can ever make because it’s almost guaranteed to increase in value over time. With cities expanding and companies setting up their offices in the outskirts, new localities are coming under the spotlight. Places like Abijo GRA, Lekki are quickly becoming investment hotspots. As a buyer, this is the perfect time for you to stake your claim on a piece of property in these areas. The prices are comparatively low now, but in a few years, they will have increased significantly. This is why home-buyers should seriously consider investing in places like this. While a property in these places might not cost you much now, it will become very expensive if postponed for a few years.
- Rental prices are increasing: The ever-rising costs make buying a home an impending expense. If you are living in a rented apartment, you may end up paying rent monthly, an amount that may be a lot more than the amount you would have been paying as monthly instalments to acquire the house. What’s your take? Will you rather expend a greater chunk of your monthly income on rent and allow the chance of owning your home slip by perpetually?
- Hedge against inflations: Nigeria’s inflation rate jumped to 16.82% in April 2022, highest in 8 months. This should tell you that you need to plan for the future. Investing in real estate for the long term has over time proven to be a good strategy to hedge against inflation. The long term capital gains derived from real estate investment means that an investor would always be better off holding property than most other investment vehicles.
- It’s best to invest in real estate when you’re young: Being young actually works in your favour when you’re investing in real estate. Younger home buyers get preference when they apply for a home loan because they have a lot more working years in front of them to be able to pay off their loan. You also get to pay a much lower EMI (Equated Monthly Installment) on your home loan the younger you are. When you’re young, your career is on an upward trajectory. This means that investing in real estate when you’re young leaves you room to make even more investments the older you get. So if you’re in your twenties and have a steady income, there’s no reason why you shouldn’t invest in real estate.
If you’re looking at finally investing in a home of your own, then visit The Amari. Our superior quality of construction and excellent prime locations make our properties the perfect choice for first-time home buyers.
