When setting out financial plans for your future, it makes huge sense to consider options that will allow you to earn passive income - in other words sources of regular personal income that require little effort to maintain them. This naturally becomes even more important as the retirement years loom even closer.
If you're considering the development of a passive income stream, there's one really powerful essential truth you need to be considering.
Whereas mortgage rates can remain fixed for the entire period of a home loan, rentals are subject to increase every year. This means that your monthly costs can remain the same while, over time, your passive income continually goes up.
Remember, too, that mortgage interest rates are still extremely attractive and at the moment they are actually lower than at this time last year!
Also bear in mind that lower vacancy rates, tougher lending standards for potential home owners and a range of other reasons, including workforce mobility, are currently contributing to growing demand for rentals. This means that you have a very healthy potential tenant-base and you can also look forward to receiving excellent monthly rental rates.
It's really no wonder that so many millionaires started by investing in real estate.
If you're keen to get things under way, at Everest Peak Realty we can help you every step of the way to reliable, growing income and a more comfortable lifestyle. Call us today to get the ball rolling.