Buying a house is a major aspiration for most families. Enticed with the idea of owning a house and seeing their assets rapidly appreciate in value, countless Indians have invested a large part of their savings in real estate. Many cities and suburbs have seen a veritable real estate boom in the last decade. However, boom very often creates a bubble which ultimately impacts investment returns. Over the past few years, we have seen a slowdown in the real estate sector. High interest rates and oversupply situations prevailing in many real estate markets have been attributed to the slowdown. Real estate investment calls for substantial commitment of funds both one time and on an ongoing basis, if you are taking a home loan to finance your property purchase. Real estate is a very complex investment and there are a number of factors involved which many investors casually ignore. For us a house is an emotional purchase, but we should not forget the financial consequences related to it because it has a very long lasting impact on our finances. There are six common mistakes that people make in real estate.
Conclusion
Many investors are today stuck with real estate investments that are either illiquid or cannot be put to any productive use. As a result they are either facing financial stress or are compromising on other equally important financial goals like life insurance, health insurance, retirement planning etc. Real estate is one of the most important components of our asset portfolio. However, it can easily also be a liability and source of stress for us. If you plan your investment carefully and avoid the mistakes we discussed in this blog, you will be stress free and be able to achieve all your financial goals.
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