Reasons why you should consider investing in real estate right now
The pandemic caused by the coronavirus pushed various economies around the world into a decline and even into a period of recession. The devastating effects of this novel virus are enough for so many countries, including emerging and developing ones to slow down and prepare to start all over again. Many had to find new ways to make money or get used to a new set up where the movement is very limited.
Because of the whole new situation, suddenly, the opportunities have been greatly reduced. Face to face interactions are not allowed without face coverings, which could be a hassle at times. Everything is done online nowadays and this will go on for a long time. You may be one of those who feel that now is a good time to time to be an entrepreneur. The first thing on your mind must have something to do with e-commerce. Besides, it’s the fastest and incredibly profitable. But you may want to consider investing in something bigger. Let’s say, a property.
You might be thinking, is it a good idea to actually invest in a residential property right now when the pandemic doesn’t seem to be ending anytime soon? While yes, it makes sense to be wary because we are living in a very confusing and strange time, investing in property is a smart thing to do right now.
Here are some good reasons why you should consider it.
IT IS A SAFE CHOICE
Compared to other forms of investment, real estate is actually more stable especially if you think long-term. Stocks, for instance, are highly dependent on the present economic condition. Now that most economies are struggling because of the pandemic, you can’t actually say that investing is a good idea at the moment. On the other hand, because of the nature of the residential and commercial real estate, even if the overall value depreciates, it is still a physical asset that you can use.
THERE IS DEMAND
Surprise, surprise! Even amid a pandemic, there is a strong demand for new homes. MBAV CEO Rebecca Casson has just announced that there is a surge in demand for new builds due to the rising interest among city workers to live in regional areas, particularly in regional Victoria after having experienced working from home. We have mentioned before that the government puts a premium on the building and construction industry for its contribution to the economic recovery. Victorian regional builders were praised for keeping the economy afloat.
With the rise in demand for property especially after the effects of the HomeBuilder Grant, the real estate industry is very much alive.
IT IS AN INVESTMENT THAT PEOPLE NEED
Everyone needs a place to stay. A residential property is something that anyone could use. If you invest in a property for you to live in and suddenly decide that you don’t want to live in it anymore or are moving to a different place, you can obviously have it rented out to someone else. Housing is a basic need, so if it’s not you who’s going to use it, someone else will.
Most millionaires believe that the best investment today is still real estate. If you’re in it for the long haul, investing in real estate is a great idea because it can generate income year-round. What’s really important is to know what you are doing and all the fees associated with it. With the right investment, it will continue to appreciate you will have your money’s worth.