Savvy Property Buyers starting Young
Savvy young investors have begun subscribing to the idea that property investment is a long term strategy, and profits are best made by prolonging time in the market.
According to Ben Dempster, president of The Young Investors Club, when investors start at a younger age they can then afford to sit out the market downturns and wait for a price boom before they have to sell.
Dempster, who owns three different investment properties worth an accumulated $1.35 million, claimed that investing early leaves time for a second cycle of growth, which can make all the difference to wealth creation and financial security.
An increasing amount of young people appear to be shunning shares and cash products, and prefer to invest in property. They feel that it’s a more secure option, which will provide steady returns along the way.
Young investors like Tamara Treleaven, who bought a two bedroom apartment in Queensland at 18-years of age, manage to obtain the deposit by using their savings and with assistance from parents.
Ms Treleaven paid $66,000 for her apartment. 11 years later, she is 29 and the property is valued at $289,000.