News & Articles 8 Reasons to Buy Your House When You Are Still Young
8 Reasons to Buy Your House When You Are Still Young
15 Jun 2016
1. It will always be expensive
It doesn’t matter at what age one buys a house, it will still be a big investment. It is wiser to buy a house when you have a larger number of working years.
2. Your burdens are lesser
When you are in your 20s and 30s, most probably you do not have much financial burdens, as compared to someone who’s older. Therefore, why not start paying off your house when you have less burden and most money to spend?
3. Do not waste your 20s
You might think it’s a better decision to buy a house in your 30s, when you earned more and the price of house has gone down. Truth it, the price of houses will never go down, and when you are in your 30s, most probably you aren’t just feeding yourself, but your elderly parents and a family of your own.
4. The value of money is falling
Your best bet in fighting inflation and the fall of currency is through the purchase of a house. In many years to come, the money you have now might worth little, but the value of your house will only grow but not fall.
5. A house is not a good long term investment
Do not try to pay for two houses in hopes of selling off one house to earn some extra money. Interest rates are high, unless you paid for the house with cash, it is not advisable to purchase two houses for investment, since getting someone to buy it off immediately is almost not possible.
6. Have realistic expectation
Don’t expect a good house with a good location to be cheap. The only way is to purchase better houses as your savings grow.
7. Now is the best time to invest in a house
As time goes by and land gets lesser and lesser, the deposits and interest rates will rise. By that time, many who could have afforded a house now will face the problem people living in Hong Kong now are facing, that is houses, even small apartments, are too expensive.
8. It is easier to buy a house when you are younger
Once a person has reached a certain age, with certain amount of liabilities, debts and responsibilities, the bank might not approve the housing loan or sets a shorter time for payment. When that happens, purchasing a house becomes much more difficult.
(中文版请看这里: http://goo.gl/4WmupQ)
It doesn’t matter at what age one buys a house, it will still be a big investment. It is wiser to buy a house when you have a larger number of working years.
2. Your burdens are lesser
When you are in your 20s and 30s, most probably you do not have much financial burdens, as compared to someone who’s older. Therefore, why not start paying off your house when you have less burden and most money to spend?
3. Do not waste your 20s
You might think it’s a better decision to buy a house in your 30s, when you earned more and the price of house has gone down. Truth it, the price of houses will never go down, and when you are in your 30s, most probably you aren’t just feeding yourself, but your elderly parents and a family of your own.
4. The value of money is falling
Your best bet in fighting inflation and the fall of currency is through the purchase of a house. In many years to come, the money you have now might worth little, but the value of your house will only grow but not fall.
5. A house is not a good long term investment
Do not try to pay for two houses in hopes of selling off one house to earn some extra money. Interest rates are high, unless you paid for the house with cash, it is not advisable to purchase two houses for investment, since getting someone to buy it off immediately is almost not possible.
6. Have realistic expectation
Don’t expect a good house with a good location to be cheap. The only way is to purchase better houses as your savings grow.
7. Now is the best time to invest in a house
As time goes by and land gets lesser and lesser, the deposits and interest rates will rise. By that time, many who could have afforded a house now will face the problem people living in Hong Kong now are facing, that is houses, even small apartments, are too expensive.
8. It is easier to buy a house when you are younger
Once a person has reached a certain age, with certain amount of liabilities, debts and responsibilities, the bank might not approve the housing loan or sets a shorter time for payment. When that happens, purchasing a house becomes much more difficult.
(中文版请看这里: http://goo.gl/4WmupQ)
Source: DurianProperty.com