What’s The Right Investment For You?

Refund-orBetter-Planning-Chispa-MagazineMost of us are aware these days that saving money is not enough. Rather than just saving, we need to make sure that we are also investing pouring money into sources that could double or even triple our incomes. However, you should also understand that investing is complicated. While it is not quite as dangerous as gambling, there is risk involved here. You can never guarantee that your investment is going pay off completely. You can, however, tip the table a little more in your favor by understanding some of the mistakes the people often make with investments and ensuring that you don’t fall into the usual traps. It’s also worth thinking about which type of investments you should be focusing on in the future and at certain points in your life. The type of investment you choose will depend mainly on your current financial position. Let’s get started by thinking about property, the different options for investing and how to make money.

Be A Property Pro
If you want to invest in property, let’s start with the most basic option, and that’s home improvement. You might already own a home. If that’s the case, all you need to do is improve your home so that it becomes more valuable. You may wish to focus on improvements that will add the most value to your home. These are loft and attic conversions, kitchen renovations and bathroom renovations. Any of these changes can at least 25 percent onto the value of your home. But how much will these cost?

Typically, the average home room renovation will cost around ten thousand, and while that is a large expense, it might be worth it. Particularly, if you get double that in profit when you one day sell your home. The benefit of improving your home and using this as an investment possibility is that you will be keeping your money safe. And for the most part, you will be completely in control of the value in your investment.

Granted, you can’t control the property market and whether or not it rises or indeed falls. On the other hand, you will be able to decide when you want to sell based on the shifts in the market. As such, you should always be able to avoid losing the money you invested in your home. It just might take a little time.

The other option is to invest in older properties HDB apartments. Housing development board apartments sell at prices that are often highly affordable for the average investor. If you’re earning a salary thirty and fifty thousand, you should be able to afford this type of investment, and it will serve you well in the future. You can explore the HDB resale price and see if the properties are within your price range. If not, you can always borrow. The trick is making sure you are buying property that you can indeed fix up and once more boost the value. If you’re buying an apartment, this is all about the design work. Make it look modern and ensure that you give it the features modern buyers want. For instance, if you are buying an apartment in a large apartment block soundproofing could ensure that it is a cut above the rest.

Of course, once you have bought the property you then need to decide whether you’re going to sell or rent it out. Selling can be a tad more risky because you’ll only have a limited period to sell the property at the right price. If it hasn’t sold during that time frame, your only option will be to take it off the market and get another real estate team to represent it at a later date. It’s an issue, and it will cost you more money. Since you have already attempted a sale, you could find the price even drops, and at that point, you may discover you are facing a loss. This is particularly true for properties in rural areas.

Investments For Lower Incomes
It’s possible that you want to invest your money, but you don’t have a high income. Well, you’re not alone with this issue. There are lots of people who struggle to make ends meet each month, without pouring money into investments that unfortunately may never pay off. That’s why you should be look towards low-risk high-value investments. That way, you can still invest your money without the risk of losing it all through the years. There are a few options to consider here.

The first would be penny stocks. Penny stocks are great because they are cheap since the companies you will be investing in haven’t fully evolved yet. As such, they are not particularly valuable commodities, but they could be. When you buy penny stocks, you could be investing in the next Google or Microsoft. Have a look online at the most sought after penny stocks this year and see whether you can buy up a few. Remember, it’s best to buy a couple at a hundred each because then you increase your chances of success.

You might even want to speak with a broker in stocks. They can help you choose the right one to invest in and make sure that you don’t stumble looking for the right decision. No matter what type of investment you’re exploring it is often worth speaking to an expert who can advise you through the process. This is the easy way of avoiding losing any money that you decide to put into it.

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Milo Senalle

Milo Senalle

Managing Editor at Chispa Magazine
As one of the managing editors of Chispa Magazine, Milo Senalle is the go-to man for all things technology, ethical, and financial concerns. Providing laughs with his style of writing and problem-solving techniques, Milo is a voice of reason among the girly staff at Chispa. Married with children, living in Atlanta, he works 24/7 on becoming a man of courage and believes honor begins at home.

Milo Senalle

As one of the managing editors of Chispa Magazine, Milo Senalle is the go-to man for all things technology, ethical, and financial concerns. Providing laughs with his style of writing and problem-solving techniques, Milo is a voice of reason among the girly staff at Chispa. Married with children, living in Atlanta, he works 24/7 on becoming a man of courage and believes honor begins at home.