The irony of human existence is, as we grow older, our energy is dwindled, we no longer have strength for things we once considered trivial, and this includes our daily job.
It would be unwise to work hard in the early years yet have to do strenuous jobs after retirement to keep up with finance and general wellbeing.
This is where your retirement fund comes in handy.
You should relax and let the investments of your youth take care of you.
There are tons of investment options to choose from, but real estate triumph over most of them for several reasons:
-Real estate is tangible and it offers higher returns with less volatility.
-If strategically chosen, its value will continue to increase for as long as you’d have it.
– It has a hedge against inflation and numerous tax benefits.e
The advantages of real estate are broad and can never be overemphasised. With the right information, great strategy and careful choice, it can be the most comfortable and reliable investment option.
Here are 3 ways you can enjoy a wealthy retirement through real estate.
- Direct Ownership
In Nigeria, a house is the most valuable asset a man can have. Asides the peace that comes with having a roof over your head and not worrying about where the next year’s rent is coming from, the house can be sold to serve as a leverage towards unexpected risks.
An alternative is to buy and hold the property for a while till its value has increased and then sell. Also, it could be rented out on occasions, for short periods, before you regain complete ownership. Whichever angle, property ownership is examined from, the risk is almost non-existent.
- House Flipping
The concept of house flipping is that you buy a house below value, renovate or remodel it, increase its value and sell it for a profit. Flipping, though risky, can be a highly profitable venture if done with the right property in an ideal location with good profit potentials. Carefully analyse the costs and potential after-value before buying a property to flip. It is advisable to go for properties with minimal renovation needs.
- Partnership
This strategy brings the forces of two or more people together and leverage it for greater income. You simply find investors with similar interests, pool resources, expertise and funds together and invest in properties. These properties are then developed and managed till they are ready to be leased or sold off for profit, after this, the profit is shared, and partnership dissolved. This option allows you to diversify your portfolio and work with as little capital as you can afford.
Conclusively, real estate offers unbeatable opportunities to enjoy a wealthy and comfortable retirement with little to no risk.
It is important to do your homework and analyse which option best suits your goals and capabilities before setting on any of these strategies.
Kindly consult a professional real estate advisor if the need be.
