Why is Buying a Home Everyone's Dream?
In the world of investment opportunities, we must never stop knowing that there is a segment that only thinks about one thing: buying the home of your dreams. Estate agents are evident on this issue, and that is why they know how to navigate a wide range of opportunities for "first-time investors."
Many reasons drive us to think about the reasons that lead to having a home of our own. And there is one clear: ensuring a sustainable financial future in time and healthy. Buying a property is essential to build the base of our heritage. This means that while we pay our mortgage, we are gradually increasing the property's price and our equity.
Contrary to what many believe, young people, dream of buying their first property. How do they do that? Those who are over 30 know that saving is necessary to fulfill their dreams. This premise and a good job are two foundation stones to achieve the goal.
This segment is made up of millennials: young people between the ages of 20 and 35 who have a lot of energy and live with other expectations. They will live longer; they will have a more significant job projection; they are less conservative. These characteristics are essential to complement your financial growth with the purchase or construction of your first home.
The savings model is clear: a small portion of the income is used for private pleasure (a trip, for example) and a more significant part for a home's dream. This saving will be complemented with a mortgage loan, which the bank will grant based on the interested parties' income.
The important thing is that young people can propose a real estate investment projection that is achievable. The property markets have offers for all tastes, with prices for all budgets. It is worth noting that young people have a significant advantage: they handle information like nobody else. In most cases, they use digital platforms that help them make the best choice. Online websites dedicated to real estate are essential, especially if they have tools such as a 360 ° view of the environments of the house or apartment that you want to buy.
It is also good to remember that young people marry or form a couple at an older age compared to what happened 50 years ago. Currently, the average age of marriage for Europeans is around 32. And this is not a minor figure. Families that delay their constitution delay having children and extending the savings period since the expenses are more diminutive.
For now, it is good to consider the following concepts when thinking about the purchase or construction of the first home:
• Eliminate unnecessary expenses: there are many expenses that we incur per month of things we do not need.
• Implement the 50/30/20 rule: this strategy allows you to manage your income intelligently. 50% allocate it to fixed expenses, 30% for the month's variable costs, and 20% to save it, yes or yes.
• Rent in a cheap place: if the medium-term plans to acquire your first property, an intelligent decision in the previous years is to rent a property that is not expensive and has the necessary comforts to live well.
• Savings plans: incorporate into our cost center a savings plan that allows us to set aside money to invest in the future. This can be done through retirement insurance, for example.