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Real Estate is one of the most debated topics whenever it comes to investing your hard earned money. Regardless the risks, Real Estate often proves to be very fruitful as a long term investment. Many people invest as an experiment with no intentions of earning huge profits. The hike in the value of the properties with passage of time and the huge wealth that can be generated out of it are the reasons people get tempted to invest in Real Estate.
Although you don’t need much expertise to become an investor, there are some points that make Real Estate investment worth a shot:
1. It is Not as Tough as it Sounds:
Becoming an investor in Real Estate doesn’t require much prerequisite skills as most people would believe. Investing in property is much simpler compared to playing the stock market, which requires a lot of knowledge and research about the complexities of trading and related fields. Investing in Real Estate, however, can be as simple as going online and start searching for properties. While generally most real estate will go up in value overtime, you do have to do some minimal research on the neighbourhood and city to ensure nothing drastic will affect the value. If you're looking to invest significant amounts, it is highly recommended to seek the services of a professional consultant such as the Altus Group to ensure your investment is sound.
2. Flexibility in Budgets:
Real Estate investments are very flexible in monetary terms. People can choose from a wide range of properties depending on their budget. If you can’t find a suitable property, try looking in the middle-ring suburbs or cheaper places that can offer you an entry point in your budget. The property value increases with the growth of communities and so does your profit on ultimately selling it.
3. Deduction on Taxes:
Once you have invested in Real Estate, you can claim numerous deductions on your tax return such as the paid amount on the loan as interest, insurance, building depreciation, et cetera. There can be some extra tax savers in case you own an income property as the interest on mortgage payments for an income property is tax deductible. Always look out for savings wherever possible.
4. Stability of Investment:
There are more risks associated with investments in stocks or bond, no matter how tempting they seem because of the exceptional wealth opportunities they offer. The risks arise from the constant fluctuations in the market. Real Estate, however, will shield you from much of the market volatility and will keep giving returns even in times when the economy takes a hit.
5. Freedom of Choice:
This is probably one of the reasons why lots of people put their money in Real Estate. You can always choose from a variety of options whether it be a residential, commercial, single, or multifamily property. The choice is yours, and who else knows better what you need than yourself? Doing a little research often pays off with great deals that can prove to be very beneficial as long term investments.
Real Estate indeed is a smart investment if you know how to handle monetary affairs. The flexibility provides the much needed freedom that allows the investors to choose from a variety of options according to their requirements.