Many of us have certain stereotype when it comes to Millennials, those who were born between the years 1982 and 2000. You can always hear that they are spoiled, lazy, irresponsible, social media addicts, etc. But is it actually shows the real picture?
In many countries Millennials constitutes the majority of country’s population. For instance, in USA Millennials are the largest age group who are hardworking, goal oriented who are getting good job and gaining financial stability very quickly. They are the ones who changing the world trends drastically.
Millennials are very smart and careful when it comes to big investment. These kind of people like deals and can easily invest in something they really believe in. According to the latest research conducted by Bank of America 1 in 6 Millennials have savings of $100,000 and ready to invest. In 2017, Millennials made up the largest group of homebuyers (34%) and of all Millennials property investors, 66% were first-timers. It makes a lot of sense that they are becoming more and more interested in real estate investments as 85% of Millennials find it one of the best investment opportunities.
Consider real estate investment now.
What are the main benefits for Millennials if they invest in real estate now? Check our 5 top benefits if you are planning real estate investment.
Every investor, when they only start this game, face ups and downs. If you failed in your first investment you will recover faster comparing to older investors. Main concern for older investors will be whether it affects their retirement or not, when Millennials can learn fast from their mistake and try again.
- Less responsibility
Every door is open for young people. This expression as well as possible describes variety of opportunities for younger generation. And real estate investment opens enormous amount of them. Millennials are active and like to do things fast. Real estate investment may not be considered as a risk as majority of them don’t have family, they are not tied down to a certain location or have countless expenses. All these factors allow them to make the right investment decision.
- Decision making
Older investors tent to take time when it comes to real estate investments. They take into consideration all pros and cons, do proper market research and check different options, when Millennials are way faster. They know already what they want and they are not afraid to make the final decision.
- Long term investments
Real estate can make you rich – this is out of question, even though it is not a quick process. To reach the maximum return on your investments, you’ll need time. Nothing happens overnight. You’ll enjoy your investment over a longer period of time by getting into it early.
- Financial freedom
By investing in real estate when you are young can protect your family from job loss or financial instability. Even if you lose your job, you’ll have money coming in from your real estate investment. Eventually, your real estate will continue making money for you even when you’re not working.
There is no doubt that Millennials are entering into their peak investing years, and their actions should be taken into consideration. Numerous opportunities are available for them, taking into consideration current Dubai real estate market situation, multiple projects with easy payment plans. All this makes investing easier and more accessible.