For most of us, a comfortable life is pretty much an issue of some importance, ranging to down right critical for some others. I will be discussing how property as part of wealth growth is critical to this overall process.
Regardless of where you are on this line, the fact is that we all need to make sure that we are able to support ourselves through our life times. I know that the traditional model is to go out and work for around forty years, then retire, and hope your savings and the government pension will look after you.
Needless to say, this is proving to be a very unreliable way to go about things!
Property as Part of Wealth Growth
It is important to note that over the years, property as part of wealth growth has proven itself to be one of the single most reliable investments. People all need to live somewhere and in some cases, receiving the rent is a great way t benefit from renters.
I know that there is the opposite side of the equation where some people want to rent, because that way, they may be able to live in more desirable and expensive area, compared to the affordability issues of actually buying in a given area.
Either way is OK, and up to you and your budget.
However, if you are in a position to, it is also a great idea to buy property, either rent it out or wait for capital appreciation, or both, and build your wealth over time.
Naturally, it is essential to get professional advice in this area, but overall, understanding these principles will assist you to achieve a greater wealth over time, when you act on the knowledge you have gained.
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