It is never easy to determine when the best time is to invest in real estate. For most people, this will be a highly personal decision. Some young people may make decisions on an emotional basis and may wish to wait until they are older and have a family before they make a commitment. Others may make these decisions purely on a financial basis and wish to purchase property when they are young so that they can pay off their mortgage earlier in life. The real estate industry is in a period of recovery which makes it an excellent time to buy for someone who is looking for an investment. However, whether that person is ready to invest is up to them.
Investing is often about a mindset more than anything else. An investor needs to be psychologically prepared to enter into an investment and to leave their money alone for a long period of time. Warren Buffet himself stated that he never makes an investment that he would not want to hold for at least ten years, and this is a good rule of thumb. Investors that strongly believe they will not need to touch their money for the next ten years may be good candidates for a real estate investment now.
If you’re ready to take the plunge and begin investing in real estate you can consider Brighton Escrow for your escrow transactions.