Like pretty much everything out there, the real estate industry is no stranger to conspiracy theories and myths. At best, these myths are pesky. At worst, they can ruin your chances at snagging great investment opportunities, maybe even cause you to lose money down the line. To ensure you don’t fall into the real estate myths trap, here are some prevailing myths debunked.
“It’s just too risky!”
To which we say, what isn’t? No matter what you’re investing in, there will always be a certain amount of risk involved. The advantage you get out of investing in real estate is that it’s less riskier than certain other investment options. Think stocks, gold and bonds, which are more volatile than the real estate market.
“Location, location, location!”
While location is key, there are definitely other factors to consider, such as the market and timing.
“I’m far too young to invest in real estate!”
When you’re young, you have more working years in front of you and that much more time to pay off your home loan. Not to mention since you’re concerned with building up your savings at this age, the hole that an investment in real estate might burn in your pocket will soon be covered up. Also, never forget that homes are a long term investment and it’s value will only appreciate wiith time.
“The market’s just too volatile right now!”
When is the market ever stable? If your career, income and savings are all on track, then that house you’ve been eyeing? Go for it! And an added advantage to buying when the market is down is that rates will be low too. When the market picks up, the rates will too and you’ll have made a profit.
“I don’t have the time to be a full time landlord!”
What if we told you didn’t have to? With technology at your aid, the most time consuming parts of being a landlord can be done digitally, be it rent collection, handling maintenance or even finding and screening tenants. Being a landlord totally isn’t a full time job anymore. So if you do think this is your time to invest in a home, make sure you check out some of the Models properties.