In conversation with Namrata Pande Srivastava, Managing Director Evente Clinic.
What is the best age to invest in real estate?
Namrata: This is a very personal decision, and largely dependent on several variables. An individual’s job or business stability, money to invest, other commitments etc. But based on pure anecdotal evidence, I feel 30-35 is the best time to invest.
Why do you feel so?
Namrata: In my opinion, if one is looking at making a leveraged investment, 30’s is a good time to start. Park some of your money upfront, and take a home loan. At this age, typically most of the people have 30% of their proposed investment with them as savings, which they can pay as down payment. Since one is in their 30s banks are very willing to loosen their purse strings for young adults. They thing that this individual has a long innings of work ahead of them. You can then plan the next ten years or so and pay off your home loan. Also at this stage in life one is not spending much on children or one’s health. It is an ideal time to start.
Any drawbacks in investing earlier? Say in early twenties?
Namrata: There is no drawback ever in investing. With the income swelling even for the young members who have just joined the workforce we are seeing more buyers coming forward to invest early. However, I feel that one should have some stability professionally before they take the plunge. Also a sizeable down payment helps to reduce bulk of the loan and this can happen over years.
What about those looking at buying a property for themselves at a later age?
Namrata: Whatever the stage may be, if one has planned properly for a goal at any point it can be realised. We see several buyers who walk in to Evente Clinic exhibitions and buy properties in their late 50’s and 60’s. This is typically for self-use. They are well planned and manage the buy easily. Buying real estate when one is financially well planned is a good decision irrespective of age.
When should we expect the next exhibition?
Currently we are having a show in Jakarta and Bangladesh in the month of August, and for Singapore the proposed dates are 29th and 30th September.