If you are planning to own your first home you must also think of it as investment property. You don’t have to wait till you buy another home to invest in real estate. You don’t have to worry too much because you can rent out the home you are going to buy. It will help you to pay of the mortgages. You can also leverage your credit score, not so perfect lifestyle and other financial limitations with this investment. All you have to be is smart and shrewd in real estate investment.
You shouldn’t follow a typical timeline to start investing for the first time, you must invest only when you know that you are ready and you should look for the best Property in Delhi for Sale to invest. Here are reasons to invest in real estate at young age:
As young and independent person you can live by your own rules, buy whatever you want, live wherever you want and travel to anywhere. But living a life in a crappy apartment for rest of your life can’t happen also. You should be saving some money and build your credit score too, so that you get qualify for a loan. As you are young your current lifestyle can cut some cost to invest in some real estate which if you wait for future and when you get old may become a liability.
When you buy a property that you can rent out, that’s the profit you start to get from your investment when you find some tenants. You can either reinvest that money on Property in Delhi for Sale or use to pay off other financial matters like debts, bills etc.
Even if you don’t have a great credit score you can get a FHA loan to be a homeowner. But with FHA loan you have to live in the property that you are purchasing. You can buy a property with more rental units, so you can stay in one and also rent other units.