The beautiful thing about investing in Real Estate; it is diverse, secure and enticing all at the same time! One may wish to embrace the country life, raise horses, plant an organic garden, while someone else is smitten with a bustling flat in Manhattan close to theatre, top shopping and restaurants.
To each their own, pride of ownership is individual! I was always told early on, get the most reasonably priced property in an appreciating area. In the end, Real Estate is one of the best vehicles for long term wealth accumulation. With the population exceeding the supply of homes, this trend is likely to continue. Home ownership is key.
The earlier one saves a sufficient down payment, has analyzed individual preferences (school, neighborhood, shopping, access, safety), learns the many facets about home ownership, understands market valuation, gets over the fear of ownership and “invests’ in a piece of the earth, the sooner annual growth of an appreciating asset be realized. Location is everything. In a growing metropolis, prices are increasing however to some being off the grid may be sweet because of less traffic and congestion.
One must acknowledge growth of an asset valuation is duly affected by choice of neighborhoods; a vital consideration made prior to purchase, not after. Therefore, it is essential to be clear, be focused and know all your options. Receiving coaching and mentoring from a passionate present tenacious professional who has your interests first and foremost is advised especially when valuation and contract negotiation skills are key attributes of successful negotiation and completion of a transaction. It comes down to staying focused on individual, goals, needs, area preferences coupled with thorough inspections, risks, costs of improvements and financial accounting analysis.
Leave all emotions out the door, be grounded and secure.