Mastering Property Investment: Start with Your Own Home

Mastering Property Investment: Start with Your Own Home

Suddenly becoming a millionaire by investing in property?

Becoming a millionaire suddenly when we invest in a property is as fake as every other investment type promising such potential. Buy a property and get huge cashback? This is profitable only for the one offering such a deal yeah. The risks are fully borne by the one who signed on the dotted line with the bank. So, please do not believe anyone telling you this even if that someone is super famous… However the following sentence is real. Most millionaires become a millionaire because of property.

Here’s one real example

Just look to Melbourne, Australia for example. Median property price is already over AUD1 million. Generally, anyone owning a property worth AUD1 million is already a millionaire, technically. They could still be paying the home loan but once they have fully paid for it, they automatically become a millionaire. By then the price could be even higher. Yes, this is why people say property can make the owner become a millionaire. We just do not expect this to happen SUDDENLY right after we have invested into one.

Why do I say we can start from buying our own home first?

There are endless reasons, actually. However, maybe we look at the 4 of the following. All are from my own experience. In fact this is one reason why I have a lot more flexibility (plus financial preparedness) in determining what I do for my career versus having to keep working even if I hate my boss for example. This is a very good flexibility to have yeah. Many can complain but not many can just say goodbye to their job because they are afraid they could not find the next one or does not have enough funds to last till then.

#1 Higher Due-Diligence.

If I buy for my own stay, it has to be something I like. Something which meets all my expectations. The layout design, the number of rooms, the kitchen, the area / neighbourhood, the overall development, the facilities and even all the amenities which I want are nearby. If one particular unit could pass such a thorough due-diligence from me, I can safely say that it will pass through any property market slowdown (ion it should happen) and it will do well.

#2 Save on renting, maybe earn from renting too

If we buy our own property and we like to reduce the monthly mortgage, it is possible to also rent out some of the rooms too. Else, if we are renting, then we are the one who’s helping others to pay a smaller monthly mortgage; making them richer too. This is usually very possible because the property we buy as our own will definitely be something loved by others too.

#3 Starting investment journey.

There is no such thing as a perfect property yeah. Only a perfect property at that particular point in time. There are already many who bought a place, stayed in them for a couple of years and then upgraded into a bigger place once their salaries rose in tandem with their career growth. This is also my own experience too. I am currently staying in my 5th home. 1st home was an apartment, 2nd was a bigger condo, 3rd was a condo in Kelana Jaya, 4th was a bigger condo and today I stay in a SuperlInk home in Gamuda Gardens.

#4 When we buy a home, we do not buy other things.

Most of us are usually working professionals. If we did not buy a home, chances are the money we did not use will now be used to buy some other things. Itchy fingers when we have extra money in our wallet. Always true. We feel rich at the beginning of the month and yet we could survive with very little money towards the end of the month. We are amazing, don’t you think? Haha.

Own Home First or Investment Property First?

I have stated my own perspective very clearly. Buying our own home first is better than to start with an investment property. No right, no wrong. Everyone can be successful if they do enough due diligence. Plus they have a free place to stay since their parents have a huge home and wanted their children to stay with them as well. For some of us having this luxury of staying with parents, then buying the first property for investment is a logical step too. To do that successfully, do read kopiandproperty.com for more tips and experience.

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