Top property investment tips for young buyers

As someone who works in the industry, I strongly believe that the younger generation is actively playing a significant role in molding and influencing leadership and the transformation of businesses in various fields. This influence is also evident in the property sector.

Millennials and Gen Z are out there equipped with a vast amount of information that surpasses what their parents had access to in the past. Digital technologies have given them a stronger grip on decision-making, empowering them to play a significant role in the advancement of any industry or field. Additionally, they actively influence and shape its future direction.

Prominent figures in the marketplace are endorsing young individuals as promising investors to keep an eye on.

According to the latest findings from the 2022 Mortgage Seeker study, a significant number of the borrowers were in the age bracket of 24 and below. This serves as solid evidence of how the younger generation plays a crucial part in fostering economic growth.

If you are determined to start investing while you're still young, and eager to grow rapidly instead of waiting for the future, then continue reading. And as you do, don't forget to bear in mind some tried and true business strategies that have proven successful over the years, but now with a modern digital touch.

Embrace With Open Mind

If you have resided in the UAE for a couple of years, your parents might have contemplated acquiring real estate in this region at some stage.

For certain individuals, these strategies may have lost their momentum due to uncertainty or a lack of confidence. If you notice these anxieties casting a shadow over your aspirations to invest at a young age, do not fret.

At present, there is a significant surge in the acquisition of real estate, offering profitable outcomes and convenient installment options that strongly benefit individuals entering the property market for the first time.

As laws have become more varied in recent times, the country has expanded its doors to a diverse array of investment possibilities, thereby boosting foreign trust and optimism.

Begin with a mindset that is flexible towards previous situations, yet willing to consider new circumstances.

After you have reached a decision, make sure to examine the alternatives available to you.

Similar to any popular term, "property" encompasses multiple aspects. There are pre-construction properties, referring to those that are not yet built but can be reserved and provide adaptable payment options.

Moreover, there are choices available for both freehold and leasehold properties, along with secondary residences that are already completed and available for immediate occupancy.

There are numerous options available, but it is crucial to make conscientious choices for a decision that leads to financial gains.

The demands of consumers are always changing, and it is crucial to meet these needs and offer the essential details to inspire them to make a well-informed choice.

Above all, keep in mind that you possess the ability to initiate transformation. For instance, rather than opting for the familiar and predictable, opt to investigate novel types of properties that present fresh encounters and possess a significant underlying idea.

Discover The Ideal Platform

Nearly 20 years ago, when I first arrived in the UAE, my main challenge was locating a suitable and desirable place to live.

In the past, our sole choice was limited to conventional listings. Presently, all sorts of things can be accessed with just a simple click.

This is applicable to various forms of investment, regardless of whether you want to own a property for personal use or generate consistent rental earnings.

You now have easily accessible assistance, without the inequality that was present in the past.

Look for websites or online platforms that provide a customized experience, regardless of whether you are looking to purchase a house or list your own property.

Deciphering Your Finances

When considering any item you want to invest in as a means of building wealth, it is crucial to ensure that your finances are in order.

The likelihood of this danger is particularly elevated when you are commencing early in life. It is essential to consistently seek guidance from a reliable financial consultant or broker.

Connect with professionals who can provide you with reliable advice on pricing, financing options and payment tactics.

Michael Lahyani is the creator and head honcho of Property Finder.

Last updated: August 11, 2023, at 5:00 AM