Should You Wait for Your 50s Before Buying a Home?

News
 - 
12 August 2021
b828cf4c926a1911473a55a7e9b8d6a3708681d3.jpeg

 At the age of 50, we have certain milestones that we want to achieve before we retire. This includes owning a home, raising a family, traveling, starting a business. 

 One of the skills we learn when /adulting/ is prioritizing our tasks and goals. For example, we come across a frequent question: Where does buying a home rank in our priorities list? 

Should we invest in a home while we are young? Or should we take our money to invest in experiences and travel? Is it too late for me to buy a home at 40? These are just a few questions we ask ourselves when we think about the right time to buy a home. 

 

Here’s a short answer: We should buy a home as soon as we can.  

 

Keep on reading as to why you should invest in a home while you’re young: 

 

 

1. Change of priorities

By the age of 50, most people would be working towards their retirement or supporting their children through their last education stretch. 

 

To do so, most would find ways to support their retirement by starting a business or generating passive investments in stocks and trading. Those who are already homeowners are ready to take such a step. However, people who do not have a home at this point would second-guess their moves before proceeding, as this would affect their financial security in buying a home. Therefore, it is wiser to make a secure investment in a home before we venture into risky assets such as a business. 

 

2. More opportunities to save while young

Younger people, if motivated well, have the energy and drive to earn more for their future. In a report by Lamudi in 2020, users aged 25 to 30 make up the largest website demographic, signaling that millennials are getting started on their real estate investments and are purchasing homes. 

 

Apart from working their daily jobs, most millennials have side hustles or personal projects that have the potential to help them support their hobbies and investments. This helps them save for their plans and investments. So, if you’re a millennial reading this, grab the #opportunity to save and earn when you can! 

 

3. Affordable home offers

It’s no secret that real estate prices continue to increase over the years. In 2019, Colliers reported an astonishing 26 percent increase in home prices. 

 

However, the real estate market prices for homes have dropped by 2.5 percent in the first quarter of 2021, according to Colliers, making our current time the optimal time to invest in a home. Wise investors would take advantage of today’s real estate climate to make investments that would pick up in value in the coming years.  

 

By 2022, properties are expected to increase in value again as most areas of the country open. 

 

Bottom line:

You should invest in a home while you’re young or as soon as you’re able. 

 

If you’re looking for a home for your family or for business opportunities, real estate developer Empire East offers a great variety of projects located in the key points of the Metro as well as peaceful yet accessible locations neighboring the city. 

 

The developer’s latest project, Empire East Highland City along Felix Avenue, Pasig-Cainta is on a 15 percent discount until August 20 under its Home Opportunity Alert Promo

 

Empire East Highland City is an investor’s next move. With government infrastructure projects booming near its location, the project’s potential as the next city hub is seen as an investment opportunity for most investors. 

 

Aside from its proximity to Ortigas and Rizal business districts, this 22-hectare township development also comes with an 8,000 sq.m. open space called the Highland Park, its very own Highland Mall, the 37-tower Highland Residences, and the member-exclusive sports club called The Chartered Club.

 

You can also cop big discounts on Empire East’s newest condo developments in Mandaluyong (The Paddington Place) and San Juan (Mango Tree Residences)! 

 

Visit www.empire-east.com/promos to know more about the terms. You may also send an email to inquiry@empire-east.com or call 8810-3333.

 

Follow us @empireeast on social media for more tips, updates, and promos! 

 

 

Back To News