Invest in real estate while you’re young, with the dawn of the twenty-first century, India’s real estate industry saw a shift in the average age of homebuyers, which fell from 45-50 to 25-30 years. People used to invest in real estate while they were in their late 40s or after they married.

However, due to the abundance of convenient financing solutions and high disposable income, the situation has totally changed today.

If you’re between the ages of 25 and 30, and you’re looking for a home, here are some questions to consider:

• Is buying land for the sake of saving or for the purpose of staying?
• Are you financially qualified to make a real estate investment?

Let’s take a closer look at these issues:

Is buying land for the sake of saving or for the purpose of staying?

Investing in real estate is usually the most financially significant option for any household. There may be a number of reasons why you want to buy a home:

• Life goal
• Investment purpose
• Social pressure – Marriage, Peer pressure
• Mitigating rental stress

Whatever the situation might be, please don’t make any hasty decisions. Frequently, we discover that an esteemed architect has begun a lucrative scheme, or that there are fewer apartments available in a property that you find irresistible. However, it assists in making good choices, and a fair amount of homework will assist in making a better decision. Making an investment only when you are thoroughly prepared, with ample funds and the required amount of knowledge.

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Do your investments seem to be in fine shape for a real estate purchase in the near future?

Consider how safe your salary is and how secure your career is until closing every real estate contract. Purchasing a home at a young age is an expensive and long-term purchase. Many financial instruments, SIPs, or schemes will help you plan for unexpected costs in life, such as medical bills, tuition, vacations, events, and other expenses that may be paid when your EMIs are being deducted from your paycheck. This is also unavoidable.

Examine how much money you have left after deducting taxes, obligations, and EMIs, and so determine when and when you will spend it – Even a tiny amount of investment will help you get into the habit of saving and staying safe.

What is the real state of your budget and savings?

Down payments will eat up a significant portion of your existing savings. If you have enough cash on hand to make a one-time payment? Is it true that if you spend a small sum at the beginning, the debt will accrue at a higher interest rate?

Do the math; it might be helpful to contact a friend or a real estate agent and sit with them for a half-hour doing some number crunching. Educate yourself so that you can make data-driven decisions.

The advantages of investing in real estate at a young age are as follows:

Tax Advantages: Tax breaks on home loan repayment are available under section 80C of the Internal Revenue Code. The biggest advantage of owning a home when you are young is that you can assert tax benefits if you have applied for a home loan. Under Section 80C of the Income Tax Act, an individual can deduct up to Rs 1.5 lakh in tax per year for principal repayment of a home loan.

Safest Investment: Investing your hard-earned money in real estate is a good investment option if done correctly. If you purchase an under-construction property or a property in a developing city, you would have a better chance of earning a decent return in the future, which will help you fund your child’s education, have retirement security, and finance other property transactions.

What are the main factors that have contributed to the rise of young home buyers in India?

High Earnings: Employee wages have risen dramatically over the past few years, especially in the private sector. The disparity between working professionals’ salaries in India and developing countries has narrowed in recent years as a result of the expanded availability of disposable income in the hands of young professionals, resulting in the rise of young home buyers.

Simple Financing: Another important element in the rise of young home buyers in India is the introduction of home loans. Many major banks and housing finance firms lend to young people based on their creditworthiness.

New Mindset: There has been a big shift in the way young people thought. Young homebuyers put a premium on financial and emotional stability, and they are less likely to make choices that require compromise. This is encouraging news for the economy and the real estate market. Better homes are being built for the buyers & overall quality of construction from well-known construction companies has been going upwards due to changing customer mindset. Even some of the offerings of interiors & amenities have improved in housing projects.

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