Please note this is a sponsored guest post.
The answer is YES but how can we when funds are limited?
Young people are now much more focused on business matters, with 82 per cent of young people expressing an interest in launching their own business. While this is a promising statistic when it comes to the future of our young generations, there’s one area that’s still seeing a significant age gap — investing.
Property investment has traditionally been viewed as a venture for older generations. While the average age of buy to let investors is beginning to lower over recent years, falling from 52.3 to 42, there’s definitely room for improvement. Property investment is one of the best ways to grow your income and meet any long or short term goals, making it the perfect venture for ambitious young people hoping to excel in business.
Since buy to let investment is often all about timing, the earlier you purchase an investment property, the better. If you purchase property in an area with predictions for high growth, it’s likely that you will buy it at a lower rate than the price it will be sold at due to capital appreciation. Cities in the UK like Manchester and Liverpool are the most promising when it comes to capital growth, with regeneration projects and a thriving economy making the north-west the UK’s fastest growing region.
Property companies like RW Invest welcome young investors, offering advice and guidance on how to make a successful first investment with one of their many north-west based opportunities. Part of the reason why young people make such great buy to let investors is that they’re able to relate to their tenants more easily. The majority of tenants in the UK tend to be young professionals or students. Since it’s a good idea to get into the mindset of your tenants, young investors are at an advantage because they know what young people want from a rental property, such as a good location and a modern design and furnishings.
When it comes to skillsets, young people are known to possess a bunch of skills that will help them thrive as a property investor. Since the younger generation tends to be a lot more tech savvy than past generations, they’re able to effectively market and promote their buy to let property if need be. This could mean using social media to promote their property portfolio’s, or taking high-quality photographs for their listing. Risk is another factor that comes into play. Compared to older investors who may have a family or other major commitments, the risk that comes with property investing becomes more of an issue. Young people, on the other hand, can afford to take bigger risks as they have more freedom and time to recover if things don’t go as planned.
All in all, if you’re a young person that’s interested in generating attractive returns through property, and you have the money to do so, now is the perfect time to take that jump. Just remember to look for opportunities in high-growth areas, and research everything you should know about before investing in buy to let.
I love concerts, 6am flights, 90s R&B, cancelled plans and wine. My blog Memoirs and Musings is all about documenting my travels infusing my personal experiences (memoirs) and a few musings along the way.