Hello, I'm 18 male, I work online from home and my income fluctuates, I could be making $10k in Jan and $2k in Feb, it's unstable but doing good currently
Anyways during the last 3 years, my income was at its peak and I know it won't last like that forever so I lived very frugally to save up the most money I could in cash for the plan of investing it in the future for higher returns
until now I saved up around $150,000 in cash, and I'm still saving, but I'm planning to do something with it because of inflation, after saving a good amount of money I realized It's not a good idea to just keep my money laying in the bank
so after doing a lot of research and learning about investing I saw that real estate is a really good investment long term, besides the fact that you own the house and you don't have to worry about the rent to live, you can have a yearly yield on it if you decided to rent it
and since the country I live in currently isn't very good at real estate, I decided that Dubai is the way to go for a lot of obvious reasons
But I'm stuck with those choices
1- Buying a 1 bedroom apartment in a good spot straight away for $120k - 150k$ in cash
( Goal ) is to mainly settle down and work there until the property appreciates in price so I can take action on it later, also to save my money from inflation, and to have peace of mind
2- put down 20% ( $100,000 ) for a bigger $500,000 house/apartment in a good spot, live in one bedroom, and rent the rest to cover the mortgage payments and the ( Goal ) is to gain cash flow on top of that, and I could earn more in equity if I decided to sell the house later
3- put down 20% on 1 bedroom apartment, and invest the rest of my money in stocks/index-fund or other options that aren't real estate, and also to have liquid assets like stocks if anything happens
I'm still learning and I don't really want to make poor choices, so every reply especially from a guy with previous experience in real estate will be so appreciated, and It would help me a lot, and if you have any suggestions for me let me know, thanks
TLDR; Should I buy a house/apartment in cash or with a mortgage?
Submitted October 22, 2021 at 08:49AM by GlaringAtNight https://ift.tt/3m52caU
