Solid Property Investment Ideas Every Millennial Should Consider
Right now across the entire world, millennials are currently the generation calling the shots. Those older than them are getting too old to be too involved, those younger than them are still trying to get a handle on what life is all about and how to navigate through it.
As a member of the generation in charge, a millennial should have a solid grasp of what real estate is all about and how to benefit immensely from it.
Real estate refers to the industry concerned with property and the land surrounding it. As the population increases so does the demand for land and property. This makes investing in real estate an extremely lucrative and wise decision.
Below are some property investment ideas every millennial should consider:
Investing in condos is definitely not a bad idea in the real estate industry right now. A Condo (full name is Condominium) is a building unit in a building complex which is owned by an individual. Unlike normal apartment units which can only be rented out, an individual can own and manage one or several condos.
A good investor with an eye for real estate would know that this is one of the best periods for one to purchase condos. This is because there is a rising demand for condos due to the fact several people are beginning to prefer housing options such as the Tamarindo condos due to the fact that they are usually owned by single individuals and not a corporation thus giving the tenants and the landlords a personalized one on one relationship. This rise in demand for condos therefore makes it lucrative for one to be able to get and hold on to, because as the demand increases so would the profit you would make if you invest into one on time.
A penthouse is a term usually used to describe a luxurious apartment which is located at the top floor of the building. These days however, a penthouse does not necessarily need to be exactly on the top floor to qualify to be a penthouse, it can be on any of the higher floors. As long as it is luxurious and is on a floor high enough to provide the apartment with a view, it qualifies to be called a penthouse.
Investing in the building or purchasing of one or more penthouse units is definitely a wise real estate decision given the fact that the demand for luxurious homes such as penthouses are increasing as more and more people are getting financially buoyant enough to afford it.
A warehouse is a building which is built or modified for the purpose of storing goods for a certain period of time. These goods can range from agricultural products like rice, beans, wheat, millet and so on to industrial materials such as cement, iron rods, roofing sheets and so on. The length of time goods remain in a warehouse depends majorly on the type of goods they are and also the group of people supplying them. Goods like foodstuff that are easily perishable are usually not stored for nearly as long as industrial goods and machinery can be stored. Also manufacturers, wholesalers and retailers might hold on to goods for longer than suppliers as their clearance depends on the demand for those goods.
Investing in warehouses is a very smart investment decision because though they are relatively cheaper to build and maintain, the demand for warehouses, especially those in strategic locations keep on increasing and thus anyone who is able to own a warehouse early enough will make up his investment multiple times in rent or outright sale.
An Office building or complex refers to a building or group of buildings which have been structured into several units and these units are designed to be used as offices. An office is a building or unit of a building which has been designed or dedicated to be a place where the managerial or operational activities of an organization (be it business, non profit, academic or religious) are handled. Without offices, it would be downright impossible for an organization to keep its affairs organized and a disorganized organization is one step away from collapsing. As a result of this, as more organizations are being founded, there is an ever increasing demand for offices. This coupled with the fact that offices are relatively easy to build and maintain make office buildings a wise investment choice for millennials.
In all honesty, there is no better time than now for a millennial interested in investing in real estate to invest in it. So many profitable investment opportunities, even more than the ones described in this article, abound right now in the world of real estate. If you are smart and brave enough, you should jump right in.
JR Dominguez is the technology, finance and music editor for MiLLENNiAL. When he's not writing, you can find him day-trading stocks, playing video games, or composing commercial scores.