Considering buying a condo in Orange County before you grace your thirtieth year can often seem daunting and unrealistic. Simultaneously trying to progress your career, get your life into some sort of order and jumping aboard the property ladder can be perceived as almost impossible. However, investing in property should become a priority. The property market is incredibly lucrative, and still growing. As a young professional, you will have security and a secure investment growing as time goes by so the earlier you buy, the better your life ahead can be. Although you aren’t usually blessed with a high amount of disposable income in your twenties, you have low expenses and pay more tax.
Why a condo?
Discussing your options with a qualified Orange County real estate agent is highly recommended. They can give you insight into the current market, demonstrate the trends, both existing and predicted, and help you to work out how you can pay for a property that works for your budget. In a great area, condos appreciate very quickly. This is the perfect type of housing to explore when searching for your first property. The safety and security of having a home that you own will allow you to focus more on your professional and personal growth.
As you base yourself in your new home, as a young professional you may start progressing up the career ladder, increasing your current income, and then any partnership you enter into becomes more stable, the overall household income will begin to grow tremendously. As the family grows, you then may look at moving to another home, with the ability to afford it from both the value of your home and the value that has appreciated within your personal and professional life.
What to do with the condo?
When you are ready to buy a new home, the best advice is to not give up your condo. Rental properties are highly lucrative in today’s property market and sought after by many tenants as they are manageable and often come with perks of the complex itself. You can rent out the condo and use savings for the down payment on your new property, that way you will be able to write-off the taxes and use the rent from the condo to offset part of the expenses for the new home and mortgage that comes with it. The first few months of moving into any new property are stressful, but after you have come out of the other side, you will have two properties building up appreciation bit by bit. You will also have another set of income from the rental property which will save you even more money and taxes which can be contributed to family investments or retirement accounts.
It may seem silly to think so far ahead, but a long-term investment like buying a Condo in Orange County will give you very healthy retirement account that keeps on growing so that when it is finally time to finish up your career, you will feel very peaceful in knowing that you do not need to worry about money for the rest of your life.
So following on from when you were looking at buying a condo in Orange County before you hit 30, you can see the lucrative and progressive steps, that both give you the security you need at that moment and the support for other areas of life. It may seem quite a task but as you can see, the progression it can give to you is invaluable. When looking into this option, make sure to weigh up the Orange County CA real estate companies.
Picking the best realtor for buying a condo in Orange County CA
Finding a knowledgeable and experienced agent in Orange County is no mean feat. You want to ensure that the realtor is credible and reputable within the community. They should have the buyer’s best interest at heart, and really tailor their search to what the buyer actually wants. Most importantly, as this is the beginning of what will become a huge investment in your life, they should be analytically minded when it comes to current and future trends in the property market. Having an excellent realtor who can give you advice on the best areas, past trends, current trends, and their belief in its potential for the future should make them stand above the rest.
Gerry Goodman Real Estate Services
Gerry Goodman is an incredible hands-on realtor with over 25 years of experience and knowledge like no other. He has formed great relationships with past and current clients, with a team behind him that is equally as passionate about the property market and supporting customers in finding something that is perfect, and highly valuable. Gerry Goodman uses analytical skills and market data to find a property that meets your asking price and has an impeccable understanding of both the sales and rental market so can help you as you transition to becoming a Landlord. They regularly save their clients lots of money, which makes them trustworthy and integrous. When looking at buying a condo in Orange County, Gerry Goodman Real Estate Services will ensure you are satisfied and get the best deal on the market at that time, all whilst meeting the requirements you have laid out. Making a conscious choice in your twenties to look at things you can do to ease life ahead may be one of the most lucrative decisions of your life.