Often when we think about buying our first property, we picture a house in the suburb area, a husband, a wife, two kids, and a Golden Retriever! 🐶
𝐇𝐨𝐰𝐞𝐯𝐞𝐫, 𝐰𝐞 𝐝𝐨𝐧’𝐭 𝐥𝐢𝐯𝐞 𝐢𝐧 𝟏𝟗𝟖𝟎 𝐚𝐧𝐲𝐦𝐨𝐫𝐞. Although the above picture is great and I certainly love the Golden Retriever, for millennials nowadays, that picture is not a standard dream for everyone! 😎
But because of that, 𝐚 𝐥𝐨𝐭 𝐨𝐟 𝐲𝐨𝐮𝐧𝐠 𝐩𝐞𝐨𝐩𝐥𝐞 𝐦𝐢𝐬𝐬 𝐨𝐮𝐭 𝐨𝐧 𝐛𝐮𝐲𝐢𝐧𝐠 𝐚 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐛𝐞𝐜𝐚𝐮𝐬𝐞 𝐭𝐡𝐞𝐲 𝐭𝐡𝐢𝐧𝐤 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐭𝐡𝐞𝐲 𝐬𝐡𝐨𝐮𝐥𝐝 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫 𝐚𝐟𝐭𝐞𝐫 𝐭𝐡𝐞𝐲 𝐡𝐚𝐯𝐞 𝐚 𝐟𝐚𝐦𝐢𝐥𝐲. 👪
On the contrary, there are many different ways to own your first property, and the fact is that being single without kids will give you great advantages. 🌷
𝐓𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐨𝐩𝐭𝐢𝐨𝐧 𝐢𝐬 𝐛𝐮𝐲𝐢𝐧𝐠 𝐚 𝐩𝐫𝐞-𝐜𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐜𝐨𝐧𝐝𝐨.
Instead of having a large sum of down payment, you can pay a little bit up front, and a large amount later.
You will also develop the habit of saving because now you’re the owner of this pre-construction. 😁
You could even own it with your best friends, partners, or your parents.
The most significant risk of pre-construction is that the deal falls through, and you don’t have the property to live.
But you get your money back, and you’re still living with your parents, in the dorms or renting with friends, it’s less risky than being a family of 4 and not able to have a place to live and miss out on buying the property at the ideal neighborhood for the kids. 😱
𝐀𝐧𝐨𝐭𝐡𝐞𝐫 𝐠𝐫𝐞𝐚𝐭 𝐰𝐚𝐲 𝐢𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐚 𝐝𝐮𝐩𝐥𝐞𝐱 𝐨𝐫 𝐭𝐫𝐢𝐩𝐥𝐞𝐱 𝐨𝐮𝐭𝐬𝐢𝐝𝐞 𝐭𝐡𝐞 𝐜𝐢𝐭𝐲. Yes, you will have to commune, but it’s great if you’re not in the 9-5 job yet.
You learn to be a landlord, you pay down your mortgage sooner with the help of rents from the tenants, and you might become a professional investor and start this journey. 🤩
𝐓𝐡𝐞 𝐦𝐨𝐬𝐭 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐚𝐬𝐩𝐞𝐜𝐭 𝐨𝐟 𝐡𝐨𝐦𝐞𝐨𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐢𝐬 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐰𝐚𝐧𝐭 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐦𝐚𝐤𝐞𝐬 𝐲𝐨𝐮 𝐡𝐚𝐩𝐩𝐲! 😃
Any excellent property can become a nightmare if you don’t know what you’re getting yourself into. 🙀
𝐃𝐨 𝐲𝐨𝐮 𝐨𝐰𝐧 𝐚 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲? 𝗪𝐡𝐲 𝐚𝐧𝐝 𝐰𝐡𝐲 𝐧𝐨𝐭?