Is investing all your money in property wise?
It is believed that one can never go poor in their lifetime by investing in property assets as the value will never depreciate. This is echoed by philosopher John Stuart Mill’s quote, ‘landlords get rich in their sleep’,
However, the time has put such a belief to test. Due to the uncertain economic climate, this may not be true after all, especially when there is no guarantee to job security and lesser disposable income to invest mainly due to lavish lifestyle nowadays.
Landlords Get Rich In Their Sleep
While some may agree, that properties are valuable assets that appreciate over time, there are some who will disagree. According to Robert Kiyosaki, businessman, and author, ‘property is a liability’; a long-time commitment. Is it wise to invest in property assets hoping to amass wealth from it? The answer would be, its wiser to be cautious and not let greed or impulse lead to hasty investment.
WHEN IS THE RIGHT TIME
According to Sr Adzman Shah Mohd Ariffin, Chief Executive Officer and Chief Real Estate Consultant of ExaStrata Solutions, the success of one’s investment in real estate boils down to the assessment of fundamental issues such as affordability, financial standing, suitability and external factors such as location, surrounding area and deep knowledge of the property itself.
“Anytime is a right time to invest but a sound fundamental knowledge of the property will determine whether it will yield an income or not.
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