Avoid that: Financier identifies top real estate investment mistake
What mistake should not be made when investing in real estate (photo: Freepik)
Investing money in real estate is one of the most common forms of investment among Ukrainians. Buying your own home is always a good idea, but to invest your savings wisely, you need to approach property purchase carefully.
Financial expert Natalia Rudevich on Instagram reports on the most common mistake investors make when buying real estate.
Biggest mistake in real estate investment
"A common investment strategy is real estate. It's understandable, historically it has protected money from inflation because usually property prices rise along with it. But such an investment can be as unprofitable as any other," explains Rudevich.
According to her, the most common mistake is when the buyer looks at the apartment, choosing it as if for themselves.
"If you're buying an apartment not to live in but for future sale or rental, 'paint' a portrait of the future buyer. And look through their eyes, considering what's important to them," advises the financial expert.
Portrait of the most common real estate buyer
"Who is buying real estate most often now? It's officials, the IT sector, the agricultural sector, young families, and parents buying for their children," explains Rudevich.
It's also important to consider who will be buying apartments in 3-5 years and make decisions based on that.
What you need to know about investments
Rudevich also emphasizes that earning from investments is a long-term process, and one shouldn't expect quick results.
"The principle of "all at once" is a childish approach to things. In this position, you're not ready to pay for results. Quick money is always a childish position; adults build a system," says the financial expert.
