Buy Another House before Retirement for Better Returns
Property can be a great source of income for your retired life or in case you lose your job, as many people have in last couple of years. There is no doubt that property is a great help if the investment is made at the right time.
Those who invest in realty should have a longer period in perspective as the benefits only accrue over a long term. One should not expect miracles in a short span. It wouldn’t make any sense for a 60-year-old to invest in a property to earn rental income, as real rate of return would not be profitable. Experts say that if possible, you should buy another house before retirement . Those who are not covered by a pension must buy another property before retirement as it will give them social security at a later stage of their life. This they can let out and earn a good amount through rent. Naturally, those who invest in property cannot be losers.
Ace golfer Jeev Milkha Singh recently said in an interview that he keeps on adding to the list of his properties every year without fail.He says that he invests a good amount of money he earns as a sportsperson,in realty. His contention is that investments on immovable property would fetch him the best returns once he quits playing golf.
As salaries have gone up over the years,there has been a paradigm shift in the attitude of people in terms of investing in realty. If investors settled for one property earlier, the later generations have been investing in multiple properties. Now, people are investing in realty with clear-cut thinking that their investment in property would be their source of income in the post-retirement life.
With higher disposable incomes and more loan options, this thinking is being adopted by a larger number of families. Realtors caution prospective buyers of properties that they should invest very carefully. They must invest in only those projects which are handled by those realtors with a proven track record.
Economic Times
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