Are you in your 20s and want to invest in properties?
Looking back, I am grateful that I started early. There are at least 10 reasons why you should do so:
1. You build a habit of saving, and a nest egg for the future. The formula is: start early, invest right and retire early.
2. You have more drive and energy for property-related activities, including house hunting, renovation, repair, etc.
3. More time and better patience to deal with agents, lawyers, tenants, contractors, etc.
4. More courage and less concerns (namely young kids, old parents, existing mortgages, job insecurities, etc.)
5. “That confidence in making decisions comes not from always being right, but from not fearing to be wrong.”
6. Look at what you have in savings, you can’t lose much …
7. In case it goes south, you can still work 20 to 30 years to get over any bad investment.
8. As a single, you need to wait till 35 to buy a HDB resale flat. (Anyway, who can tell whether anyone will marry me by 35?)
9. What better way to use the money (and get a higher return) in your CPF ordinary account?
10. You can borrow mortgages with a longer payback period (tenure = 70 minus your age), meaning lower monthly payment and better rental return.
So, are you ready to take the plunge?
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