Those of us who have entered the investment property market later in life may look back on our misspent youth and wonder why we didn’t start earlier. Days of partying and flittering away cash on the latest fashion may have seemed wise at the time but, with hindsight, what do investors say they would do differently if they had their time over again.
Make it a rule to save and start saving early. Creating the habit of regular saving not only creates wealth, it also creates a habit to last a lifetime. You don’t necessarily have to forego a terrific lifestyle to save just a little each month.
Property investment is a long term strategy for future wealth. Investing early gives you a greater chance of reaping the rewards of a growing asset.
Keep your credit record as clean as possible. Sometimes when we are young, it is hard to see the consequences of our actions. A bad debt may impact on future credit decisions.
Time equals experience. The more time you are in the property market, the more you learn from it to positively influence property decisions in the future.
Leaving investing till later in life, you may be surprised at how your mortgage and family responsibilities can limit your ability to invest.
As with most things in life, the more you know on a subject, the more likely you are to succeed. Spend time researching and following advice from seasoned investors and make decisions now that will grow your future wealth.