A human has an average life span of 65-70 years. Initially, the first 20 to 24 years are spent on pursuing his studies and in the remaining years human usually mug them up in the hurdles of life and end up running in the race called life and managing their whole life in this short period. Along with such long list of responsibilities if one has another duty of buying his own residential property, his life gets so much over-burdened that usually a person forget that he has a life to live. So, in such troublesome situation buying own house is also essential as you are giving up a lot of amount as rent. Paying rent for lifetime is such a scary thought that people at first buys a residential property and commits the first big mistake of their life.
Are You Making A Big Mistake? Think Over It. . . .
Ever given a thought about the consequences that you will have to face whenever you will first invest your money in a house? No! But, now you must be surrounded with questions like, “Buying own house is good and I am telling you to think about the consequences? What a lie!” Well, this is not a lie and even you would wonder when you will know the fact behind it. With this, I do not mean that you should never buy a residential property but I only want you not to invest in a commercial property initially. Well, some of you must have heard of saying ‘‘Pehle Dukaan Fir Makaan’’!!
To tell you the reason, I would ask you a question first and that is how much fixed income do you have? Ummm! Not much. Right? Exactly, that’s when you will need to rethink before investing in any property. So, with not buying a residential property you can multiply the monthly income and not let it remain fixed. Now, if given a choice of buying a shop and house to buy, most of you will consider a house. But, that is not the way to start with. For people, who are businessman and have enough money to invest in numerous properties, it does not matter that what should they buy first but this content can be fruitful for them as well.
Stop Assuming How and Read More To Know!
If you invest in a residential property it does not have a fixed amount, the better locality you go for the more expensive the property is going to be. And, if you compare it with buying a shop, the shop can be really cost effective in that matter. In addition to the rapid growth of property rates, the first point that arises is you are never going to get disappointed with your investing decision. But, that is something to be seen on the later part the first thing you should see is the current status. And, to make you aware of the benefits we have got some points for you.
- Suppose your monthly income is Rs. 50,000 and your monthly expenses are Rs. 35,000. Well, that’s not much and with this you can easily save Rs.15,000 per month. And, doing this for a whole year can make Rs. 1,80,000. And, that is actually a good amount to start with.
- Doing this for next 5 years can make an exact amount of Rs. 9,00,000. This much amount may not be enough for buying a house but may be good for investing in a commercial property.
- With investing this much amount in a shop, first will make you an owner of a fixed asset and also you can start with a monthly income with this also. The easiest and quick is to put it on rent. But, if not on rent you can set up your own business or even if you do not want to quit your business you can just start a business and handover the responsibilities to a hired person and attain the benefits by just sitting back at home or enjoying your regular work.
- After this fixed income, don’t stop saving. But now you will dual ways of savings income and you can save more amount in a lesser period.
- Now, if you think that the amount that you have been receiving is enough for your lifetime then you can loan a house and pay the EMI’s with the rent and now use the full income with a lavish lifestyle or you can invest once again in a commercial property to make your income thrice.
- With this you will have enough money to live a great life with lots of money and also will have a regular income even when you retire from your job.
Have You Hopped Your Previous Idea? That’s Great, Go Ahead!
Hence, we can say that investing in a property is never a bad idea but it can give endless returns dual ways. First is that the property rates are increasing rapidly so you would end up getting 10 times the amount you invested after a few years. Following is that it gives you a regular income and make you live a lavish lifestyle over a few years.
Always give it a second thought if you are planning to invest in a residential property first over the commercial one!