Some people argue that staring property investing should be as early as possible and some other say that it is wise to wait until you are mature to make decision and financially steady.
Does age really matter in property investing? Is there expiry date to start investing in property? What happens if you invest in your 50s? Will it really affect the outcome when you think you are too old to invest?
Of course, it is easy to say that you are never too old for anything or that it is better late than never.
However, property business involves different parties which also has their own standard in making decision such as lenders, bank, and the industry itself.
Some people are afraid of being too late to invest and miss the boat of golden period of their property buying career.
How timeframe in property investing works
One important thing when it comes to property investing is to consider where you are financially now. You also need to know where you wish to be financially when you retire later.
Then, you also need to consider the timeframe which exist between now and then. Here is timeframe in property investing:
- Investing in your 30s is good because you still have at least 30 years ahead to build your portfolio. You still have plenty of time to develop the right investment strategy to build your career. When your loan is getting slower, you can transition into the cash flow phase which benefits your income.
- If you think you are too old to start investing in your 40s then you are wrong. You still have 20 years to make promising and profitable decision for your property investment. If you are in 40s now and have been thinking of investing in property then might as well start now.
- When you consider investing in your 50s, you are not completely lost. Ideally, you have some property asset behind you at this age. However, you can still start investing as long as you have clear strategy. You also need to put ‘capital growth’ in your priority list more than anything.
- Investing in your 60s can be challenging and risky. It is not impossible to start investing in this age. However, you may need to speak to professional property strategist because there are many factors to consider if you want your investment to be successful.
- Investing when you are already a retiree is still possible. However, it may need to be done under certain circumstances. However, it will require more effort and convincing situation before a bank agree to give you loan you need for investing in property.
- It is recommended to start investing in property as early as possible because then you have more time to grow. There is more flexibility to make mistake as well. Make sure to speak to professional and experts to get the right guidance of what to do. Applying the right strategy will also determine your success in investing.