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Is Investing In Real Estate At A Young Age A Good Decision?
Is Investing In Real Estate At A Young Age A Good Decision? |
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Real estate is often described as one of the safest investment options. Read on to find out if it is ideal for youngsters to invest in real estate |
The generation before millennials invested in real estate, not only for the returns that the asset generated, but also for safety and security reasons. Besides, it was one of the few bankable options available. However, despite several investment avenues that are available today, several youngsters aspire to buy property at a young age.
Even using the simple economic rule of demand and supply tells us how precious land is. The finite land resource will only get dearer as the population increases. Real estate is considered one of the safest and low-risk investments. Even if the prices dip a bit due to global factors, like recession or pandemic, the prices will surely bounce back in the long run. Unlike gold, equity, or other instruments, real estate is an asset, which you can use or rent out, and still generate long-term profits.
Additionally, real estate also helps you diversify and balance your investment portfolio.
Talking about finances, most opt for a home loan to buy a home. With age on their side, a young gun has the option of longer tenure with lower EMI, thus reducing their financial burden. As one grows old and climbs up the corporate ladder, the income also increases, thereby allowing them to make pre-payments or increase their EMI amount and manage their loan better.
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Affordable Housing
Affordable Housing Gets Major Boost
As many as 80 lakh homes are expected to come up by 2023
Finance Minister Nirmala Sitharaman on February 1 announced the accomplishment of 80 lakh homes under the Pradhan Mantri Awas Yojana (PMAY) and allocation of Rs 48,000 crore under PMAY urban and rural.
These announcements are expected to help boost the affordable housing market. The center plans to work with the states to reduce the time required for land and construction-related approvals. The focus will also be on the modernization of building bye-laws and town planning schemes
Announcements such as 48,000 crores for PMAY, 80 lakh homes under PMAY, single-window environmental approvals, better coordination between the Centre and states for approval processes, and uniform registration of deeds will help boost the affordable housing market.
The Housing for All by 2022 initiative was launched by the Modi government within 5 months of the forward workplace. It’s all about making a certain home for each Indian by 2022. As per statistics created accessible by the Ministry of Housing and Urban. A total of 6,368 houses in Light House comes area unit being created involving a project price of Rs 790.57 crore, the ministry said.