The on-going pandemic has not only shaken mankind, but can also have a long-lasting impact that may take us decades to overcome. The global economy may face a drastic collapse, and as much as we want to look out for each other, we also have to find ourselves the best means to survive whatever the future may hold. We might have had plans on making some investment decisions before things got so dark. If by any chance it was a real estate investment decision that we put on hold because of the uncertain situation of the world, we may want to put that thought back on track, here is why!
There is a personal checklist that we need to take care of before thinking of making a real estate investment, because regardless of great opportunities, the times are uncertain. We should not have a bad experience with our investment simply because we failed to meet the criteria. Our current income stream and job security should be one of the first concerns. If we are uncertain whether we are going to wake up without a job tomorrow or not, maybe we should take a step back with our investment plan. But even then, if we have enough savings that we are confident would cover the costs related to our investment, then we should go ahead!
Yes, the current situation may not seem to be the best of times to make a happy investment decision, but it is a crucial one nonetheless. And believe it or not, the situation favors it greatly. Firstly, with the market facing a tough time, a lot of developers are offering real estate at a good negotiable price. Most of the upcoming projects too are being offered at an attractive price which could prove to be a great bargain! On top of that, the pandemic is undoubtedly bringing out the strengths of the leading developers, so it really shows which ones have the credibility and capacity to provide what they have promised. We now can choose from a very limited pool of sellers who are surviving such a difficult time in our economy with grace.
So let’s choose from the best of the best!
Just like the sun goes up every day, so does the value of real estate! This is one industry that hardly takes a blow, unlike the stock market which we could probably be tempted to invest in. Like I have said before, right now great pieces of properties are being offered at an attractive price, so we can make an investment with a favorable input, yet reap the benefits at a higher rate as real estate promises great Return of Investment. Now or tomorrow, people are always going to need a home to live in, so if we are planning to put our property up for rent, a sensible investment now could help us with that!
Moreover, in real estate, cash flow matters greatly. Whether we are living in it, or putting it up for rent, our real estate investment should pour in some cash flow, in one way or other. The post-pandemic scenario showcases an inflation, during which the price rate of everything will go up. This will happen to cope up with the current economic loss, the decrease in supply of goods and the eventual scarcity that may follow. As unpleasant as everything being expensive sounds, the scenario will be much pleasant for us if we make an investment now. A fraction of money will bring in a cash flow higher than a property potentially could in normal conditions.
Not only that, even if we decide to sell your property later, it would mean that we bought it at a greatly negotiated price but can sell it at a higher price! How does that sound?
To summarize, if our current financial condition is favorable, this could be the investment of a lifetime. A real estate property that meets our requirements will not only support us in the upcoming days, but, as mentioned, will help us meet our goals, both short term and long term. And the cherry on top is the current pool of sellers in the country, that is limited yet of fine quality, ensuring that our investment is in secure hands. So let’s put our glasses on and storm the market to pick the best, of course from the safety of our homes!