Why Is Today’s Youth Deciding to Buy a Home?
Home buying is a significant investment. It is said, “The right time to buy a home is always 10 years ago”. The earlier you invest; the higher will be the return on investment. While earlier people invested in real estate at the age of 40 or 50, the trend is changing now. The millennials don’t want the renter generation tag. They plan to leap in this direction in their 20s. As soon as they become financially independent, they start planning to buy a home.
Read on to know some of the prominent reasons why the youth today is returning to property investment.
The Advantage of Time: When you buy a home at a young age, you have time towards your side. You can research and explore different properties and settle for the best one. Even if you are not convinced about your decision, you can look up to this property as an investment, sell it a few years down the line and buy another property.
Get Home Loans Easily: At a young age, if you have the money saved for the down payment, you can easily avail of a home loan. Most banks will readily offer a home loan to a young investor. Besides, you have the advantage of availing a 20 or 30-year home loan too. So, you can opt for an EMI of lesser amount and pay it comfortably over 30 years.
Improve your Financial Management Skills: Investing in a property at a young age makes you a sound financial planner. You learn the art of managing your money better. Whether you live in the house that you buy or give it on rent, you need to pay the EMI and manage the rental payment. With income from more than one source, sensible planning can make a world of difference.
Market your Property: Investing in an era of digital marketing gives you the option of promoting your property well. You can use different social media platforms for marketing your property and earning a stable and better rental income.
Retire Early: When you buy a home at an early age, you can make a financial asset for yourself. Also, you can repay the home loan on time and have a retirement corpus in place. This gives you the scope to retire early or multiply your wealth.
Enabling the youth to invest in a property, the government’s Housing for All by 2022 scheme has given a boost to affordable housing. There are more and more budget properties coming up in every city and helping the youth to invest. According to a report by the CREDAI Youth Wing and CBRE, a majority of the millennials aim for a home that can provide the quality of life, with the perfect house location and size.
If you are looking for such flats in Nagpur, then you should explore Vrindavan township in Wardha. There are compact 1 and 2 BHK row houses, apartments and double duplex, which are worth exploring for investment and living purpose. You can check out their different configuration options on https://vrindavan.co/project.php, you can also explore their huge range of amenities on https://vrindavan.co/amenities.php. They have a swimming pool, temple, clubhouse, tennis and basketball court, gardens and much more. Besides, the location is also a definite advantage. Metro station, airport, schools, hospital and colleges are all in proximity. So, visiting Vrindavan will be worth it. Located in Jamtha, you can know more details about this project online and then plan a site visit.