In celebration of the birth of my new baby niece I have to share with you this thought. Okay, it is a little kooky/controversial but…
Property investing is a little like having a baby.
There, I said it and my sister-in-law who delivered in the hall outside the maternity ward is probably thinking I am a little crazy about now.
So just humour me a little.
The top 5 reasons (Jo believes) property investing is like having a baby….
1. Everyone has an opinion:
E.V.E.R.Y.O.N.E knows how you should calm your baby, or bring on labour, or what school is best or why you should introduce solids early or late…
In the same light, just attend any gathering of grown-ups and mention you are looking to invest in a house/villa/sub-division and you will have 48 different opinions, mostly fear and doom.
2. It is never the right time:
Having a baby is a big step in any relationship. There are many reasons to postpone reducing the household income by half and then adding a cost to the mix. You can postpone investing in property also for many reasons – logical or irrational. Your future self will thank you for starting – over analysis paralysis anyone?
3. It is expensive:
Property can start to bring you a financial ROI from the beginning.
You might need to wait 8 plus years before your little cherub starts to take out the bins or unstack a dishwasher.
Then there is the 300k-lifetime estimate to raise just one child.
Kids can also be very motivating – the more you have, the richer you need to be, having property helps!
4. It hurts:
No matter what exit strategy junior takes….it hurts… if not during (thanks modern medicine) then there will be some post ouch moments.
It is a pain with a reward, so is property investing, but it can be super stressful.
It can cause anguish, uncertainty and dig up a lot of unwanted self-doubt.
Be prepared – you will feel smug joy eventually!
5. You feel euphoric:
Whether you are a Mum or an Aunty or a Godmother or just like babies.
There is something about a baby that makes people smile. Holding your newborn is a huge heart melt for most new Mums regardless of all the other bits.
When you buy a property and it finally settles, you feel great! You get a tenant, you feel great, you renovate it, you feel great, it goes up in value by $280,000 in 2 years…get my point, see I am not mad!