Tuesday, November 30, 2010

Getting Married Soon : Should I Buy a Property Now?

This question was asked by my 25 year old friend who is planning to wed next year. I have been involved in properties for the last 5 years and making some small passive income from it, I naturally said yes. But I have to remind her that if she is planning to buy for her own stay, then it won't be considered as an asset. I think I have no problem saying your own home is not an asset to her generation. Imagine if I have that kind of thinking 10 years ago! I would have started investing with my first salary money! But first, she needs to answer a couple of questions:
  1. What is the lifestyle that she envision for herself 10 years from now, kids (if any) and all. Still working or wanted to start a business?
  2. What is her long-term goal with this property? Own stay or for rental or sell for profit?

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