The idea of achieving financial freedom and not having to blow off a good portion of your hard-earned salary on rent will always be an alluring one. Evidently, more and more people are choosing to follow this path in the UAE, as we witness a rising trend in property purchases, among residents in their 20s, 30s, and 40s, with even newly launched projects being sold out in days.
No doubt, as word-of-mouth spreads that the UAE property market is ripe for investment for the salaried class, so does the eagerness to hop on this trend and reap its benefits. However, as easy as it is to get swept up in this investment-fever, it must be noted that a good amount of research and knowledge must be put in to ensure that your investment brings you the benefits you have heard of.
Developers have noted this increased demand for supply, and, as a result, we are seeing a number of massive residential projects launching in the Dubai, Abu Dhabi, and Sharjah real estate markets. With so many options to choose from, it can be overwhelming to decide on where your investment should go. It is, therefore, important to take a step back, take a deep breath, and realize what your end goal is when investing in property, as these end goals should be one of the primary factors to take into consideration. Are you looking to immediately move into the property that you are purchasing? Are you looking to sell this property soon after its surrounding area has developed? Are you looking to become a landlord and rent out the property you have purchased? All of these questions and more need to be answered on your road to property investment.
Investing in property, whether it is in the form of one large payment, or in a series of installments that can be equal to the amount of rent you are paying right now, can become a stress-inducing process. In my book, Landlording: From Renting to Financial Freedom, I delve into the specifics of such thought processes and explain how to get from one step to the next so that the property you invest in aligns with your goals and will ultimately be a stress-free and profit-generating endeavor.
To learn more about these key points and start your very own journey into the real estate market with Landlording: From Renting to Financial Freedom, e-mail Books@mohanadalwadiya.com