Over 90% of all millionaires became rich because of property. The best investment on earth is real estate. Owning a home is a keystone of wealth. It provides both financial and emotional security.
You should not wait to buy Bergen County real estate. Instead, you should buy it and wait. A piece of property can appreciate more than tenfold in less than five years. The secret is buying and holding until the prices are right.
Since the Great Depression, the property market has appreciated at a higher rate than the stock market. It is better to own real estate than to own stocks. That is because stocks are very volatile. Since the 1980s, the stock market has crashed a number of times. On the other hand, the property market has never crashed.
For those who want stability in an investment portfolio, the asset of choice is real estate. It should form a good percentage of the portfolio. Property and precious metals will be the perfect hedge for risks caused by volatile assets such as stocks.
Property is highly valuable. That is because land is available in a limited supply. It is hard to create more land. The process of creating an artificial island is very involving and it is expensive.
It is better to own property than to have all the money stored in a fixed bank account. The interest rate earned on such an account is not enough to beat inflation. Therefore, in the long run, the purchasing power of cash at the bank will diminish. On the other hand, the value of property will automatically adjust to the rate of inflation. Thus, real estate is the best store of wealth.
The best property is in a strategic location. The three most important factors to consider when searching for a property are location, location, and location. There is the need for property that is accessible. Such a property is near roads and major highways.
A good property is also near public and private amenities. A house that is near a police station is desirable. That is because no smart thief will want to steal near law enforcement. Schools, hospitals, shopping centers, recreational facilities, and other amenities surround great properties.
There are different types of properties. They include farmland, retail real estate, condominiums, suburban houses, and townhomes among others. Farmland is for agriculture. Most condos are in urban centers.
The Bottom-Line
Real estate is tangible. It is solid and beautiful. It is the best asset that money can buy. A good property will have an impressive return on investment. The property market has created millionaires and billionaires.