No matter who you are, you will have been given the advice from your parents to invest in your future. Many of us are given this advice at an age when we think retirements is too far down the road and is not something that we should be worrying about now. The years creep by and before you know it, you are retired and you are finding it difficult to meet ends meet. This is a story that we hear again and again and we will continue to hear it until we all start to prepare properly for our older years. Nobody wants to have to check their wallet before they decide on a purchase. Retirement should be about relaxing and enjoying the spoils of the last 35 years of hard work.
Just relying on your state pension is a foolish mistake that many make and while it is great to have something like that to fall back on, you should be looking at much bigger fish. Investment in property is the way to protect yourself and the time to do it is now. If you look at the property market in Australia over the last 25 years, you will see that it has grown. Sure, there may have been some falls and lulls, but overall, it was a wise decision to invest in property. For those of you who say they wouldn’t know where to start when it comes to property investment, there are numerous companies out there like the WIT Group who are more than happy to show you how to get on to the property ladder in Australia and stay there until your retirement.
There are numerous advantages for investing in property and it remains the best and safest way to invest your hard earned money. Unlike the stock exchange, it just doesn’t change overnight. Let’s look at just some of those advantages.
- When you invest in property, you have full control over the whole investment. You decide what type of property you want to invest in, you decide what method of financing you want to use to buy it, and you decide how much to want to charge for rent for the same property and who lives in your investment property. It is also up to you when you wish to sell your property. You don’t have this kind of flexibility with many other investments.
- Buying a property provides great cash flow and your property will definitely give you a return on investment that you can re-invest in more property. Rent will be coming in every month to cover the mortgage if you have decided to go that way and you use that to pay the mortgage off and invest the difference. The wonderful thing is that you still have your property and it is growing in value every day that you have it.
Property investment means fewer risks, tax benefits and deductions, and all the time, you are hedging against inflation. You need to start your real estate investing today and invest in your long term future.