by Melih Alsaç
Life consists of various stages shaped by the needs, goals and priorities of individuals. Each life stage carries different meanings for individuals and real estate investment plays an important role in these stages. People face various considerations about acquiring real estate at certain turning points in their lives, and these decisions are often shaped by stories that span different stages of life. In this article, we will explore how real estate investments change across different life stages, from youth to retirement.
Youth Period (0-25 years)
Youth is a period of exploration and learning. At this stage, individuals are often continuing their education and laying the foundations for their careers. It is often difficult to be financially independent, as educational costs and low initial incomes characterize this period. Therefore, it is often not possible to make large savings and acquire real estate during adolescence.
Highlights:
- Exploration and Learning: Individuals focus on their careers and education during this period.
- Limited Budget: Buying real estate can be challenging due to education costs and starting salaries.
Step into Business Life (25-35 years)
During this period, individuals generally started their business life and started to earn a fixed income. With financial stability in place, opportunities to invest in real estate arise. However, the rising cost of living and changing economic conditions in recent years can often delay the age at which individuals purchase their first property until their mid-30s.
Critical Factors:
- Fixed Income Regular income makes real estate investments more accessible.
- Investment Opportunities: Stepping into business life brings with it the opportunity to make your first real estate investment.
Marriage and Starting a Family (35 years and older)
The period of marriage and family formation is one of the most intense periods of housing need. This is often a period when individuals make their first housing purchases. Starting a family brings with it a larger and longer-term housing need. Real estate investments made during this period aim to establish an infrastructure that supports family life.
Highlights:
- Family Needs: Marriage and having children creates a greater need for housing.
- First Housing Individuals usually buy their first home during this period.
Pre-retirement (35 years and older)
The pre-retirement period is a time when the search for future security comes to the fore. During this period, individuals may make additional real estate investments to increase their income and provide financial security after retirement. During this period, real estate is often seen as part of long-term plans and is considered as an additional source of income for post-retirement.
Strategic Decisions:
- Seeking Reassurance: As retirement approaches, financial security becomes more important.
- Additional Investments: Real estate can be preferred as a source of passive income for post-retirement.
Conclusion:
Every stage of life involves different expectations and goals. From youth to retirement, real estate investment is shaped in accordance with individuals' lifestyles and goals. Each stage gains meaning with a different real estate investment story and these stories have an ever-changing structure like life itself. Therefore, when making real estate investment decisions, it is of great importance that individuals take into account the life stage they are in and their priorities in this stage.
Frequently Asked Questions (FAQs)
1. At what age should the first house be purchased?
Generally, the first house purchase is made between the ages of 25-35 after starting a career. However, this age range may vary according to individuals' financial situation and market conditions.
2. How do housing needs change after marriage?
Marriage and starting a family creates a need for larger and longer-term housing. During this period, larger, child-friendly and family-friendly housing is generally preferred.
3. Should I invest in real estate during retirement?
Yes, real estate investments made in the pre-retirement period can provide an additional source of income and financial security for post-retirement.
