Real estate investments are more beneficial than many other investments. They are a great way to grow and prosper over time. Investing in real estate can ensure a complementary source of income.
Why does real estate remain, year after year, such a great investment? If you still are not sure that real estate is a beneficial investment, here are 5 good reasons to go for it:
1- Opt for a Safe Investment
Real estate is a safe investment because it is a tangible asset that will last through the years. Similarly, real estate usually increases in value. The chances of depreciation are very low, and a property will decrease in value only in exceptional circumstances.
This investment only requires dedication and time to devote to the project.
2- Meet a Need
Housing is an essential need for everyone, just like food and clothing. Thus, the demand in real estate will always exist.
Still, there are a few elements to keep in mind about rental properties. Not every property meets a need; hence you should consider urban development, the economy, market trends, etc.
3- Control Your Investment
When you invest in real estate, you can influence certain determining factors of your investment. You set the price that you are willing to pay for the property, you choose where it is, the price of rent, and the person who will manage your property (yourself or a property manager), etc.
Having control over your investments is very important, and real estate offers this flexibility.
4- Enjoy Tax Returns
When you own an income property, you can sign up for some tax reduction programs. If you meet certain criteria of the Canada Revenue Agency, the interest on your mortgages can be tax deductible.
Same thing goes for monetary losses related to renovations in your units. No matter if they are for unexpected breakages or to modernize the unit, these expenses can be deducted from your salary, so you pay less tax.
Thus, by meticulously managing your accounting, you can save a few dollars at the end of the year. Therefore, not only do you pay less tax, your properties also increase in value.
5- Ensure Yourself a Stress-Free Retirement
Many people fail to properly plan their retirement. Solely relying on the government’s pension funds or on your employer can lead to unpleasant surprises. Investing in real estate beforehand provides you with an additional source of income and allows you to enjoy this time in your life.
Invest in real estate now, and enjoy it in the future.
Do not wait any longer and take the leap! Real estate is a very beneficial investment.