I was planning to invest in a property a few weeks back, but I wanted to know if it was a good time or not. To learn about that, I got in touch with a real estate agent and asked him, when should you buy an investment property. He told me the right time to invest is mostly based on the condition of the market, which is beyond our control. Instead, we should focus on factors on which we have some control.
When is the Right Time to Buy an Investment Property?
The agent told me that there are three factors we should consider when investing. These factors are income, debt and gearing.
Income: He said that the best time to invest should be during the peak earning years. This is when we have an idea about how much our income can appreciate in the next few years.
Debt: The next important factor is to reduce your debt as much as possible. The lower your debt is, the easier it will be for you to purchase a house.
Burrowing: The agent said that we should invest in properties where we can easily meet the repayment, even if the interest goes up. He also asked me to factor in this expense when I plan to invest.
And that’s all. This is what the agent had told me when I asked him about the right investment time. I hope this helps.
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Authors Of The Question
When Should You Buy an Investment Property?
Lucky
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2024-11-22T09:19:40+00:00 2024-11-22T09:19:41+00:00Comment
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