Problems have Predictability
...and thus, we can formulate strategies ahead
Phase 01
Young Parents Phase
Young parents often face a unique set of needs and challenges as they navigate the complexities of parenthood. Overwhelmed by the responsibilities of caring for a newborn while also managing their personal lives, relationships, and career aspirations. Financial stability is another significant challenge, dealing with increasing living cost.
Phase 03
"Child-turning-adult" Phase
As children grow into young adults, the challenges as parents evolve and become more complex too. Property-wise, quite often, is about not to "rock the boat". Space should not be an issue now, location should not also as they are big enough to travel on their own. As thing progress, children also get married and start moving out to their own houses
Phase 02
Matured Parents Phase
Mature parents, typically those who are more established in their careers, face distinct needs and challenges as parents while juggling increased responsibilities at work and balance with parenting duties.
When the kids are reaching primary school age, this is also a time when most parents are considering a change of property
Phase 04
Grandparents Phase
Also called the Freedom Phase. Retirement is within reach and you can enjoy what you deserve after working most of your life. "Empty nest" syndrome also starts to kick in and you may not find yourself needing a huge house. Right-sizing or cashing out from your investment are options you have
Do you know?
Do you know that your real estate investing career is not forever, it is of a limited period of time. Most people have about 20-25 years and how far can you go depends on your initial years of decision-making.
Your real estate career starts when you have a stable income, as that’s when you can leverage from the bank, you buy your first property and start a family, as your family needs grow, you may need a change of your house, which then comes your second or third property here, there could be multiple opportunities for you depends on how the market turns out.
By the time you retire, your properties should be fully paid, if you want you can liquidate and right size to a smaller property to enjoy retirement, or enjoy rental income if it is an option for you.
The bottom line here is that what you just read gives a clear perspective - it is to your interest and to your advantage to drive up your asset value as high as possible, make sense?
The key here is how you can do it comfortably and confidently so that you don’t break the bank and are still able to enjoy life and go on the holidays you deserve.
