How to choose the right investment for you
As Warren Buffett once said, “Investing is laying out money now to get more money back in the future.”
Real Estate is one of the most popular investment choices because of its security and reduced risk. However, before being involved in any type of investment, here are factors to consider so as to achieve your long-term goals and dreams.
- Needs and goals
What is your drive to invest? Determining your needs and goals will guide you on the right path of picking an investment. Take your time to consult and think about what you would like to achieve with your investment as this will help you choose a suitable product for you. Once you have clearly defined your needs and goals it is advisable to make an investment plan and stick to it throughout your journey.
Consider the time it will take for your investment to gain returns and how soon you need your money back. Some investments take a longer time to appreciate than others but it is important to note that there will also be varying risks involved. Therefore, find a suitable timeline to leave your investment untouched to benefit from its compounding growth. For example- an investor who bought land 10 – 20 years ago along Mombasa road is today reaping immense benefits from the rapid growth and development of the area.
3. Hands – on / Hands- free
If you are a hands-on type of person and would like to make your own investment decisions, ensure you have the right market knowledge for your product and you clearly understand the related investment risks. The better choice would be to approach an investment company such as The Wealthsmith – who professionally handle real estate projects in Kenya.
Contact us today for affordable real estate investment products.