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Is it worth it?


Owing rental property is definitely worth it. Over time, the value of your property will rise and the amount you owe on your mortgage will fall to the point where you could get significant gains when you sell your investment. But like any investment, you have to constantly reevaluate the benefit you receive and determine if another investment may be a better fit. The amount of rents you collect may not keep up with the value of your property or the tax benefit may decrease significantly over time. The state of the economy can also change where long term interest rates are more profitable then owning your rental property. Why would you want the responsibilty of maintaining a rental property that returns 10% on your money, when you could buy another safe investment with little maintenance and a 15% return?

The rental housing market is a terrific way to supplement your income and gain long term capital appreciation. A small investment of $20-30k today could lead you to a $300k equity in 25-30 years! When you look at it like this, you should do what ever it takes to buy a property right away. But if you are not prepared ahead of time you will likely drop out of your investment well before it achieves the value you are hoping for because it is not worth it mentally or even socially. The time required for maintenance, or the timing of tenants changing, to problems with your neighbors can cause you to think twice of how great your investment is.

If you do the right amount of research, proper planning, allocate sufficient time, arrange for help when needed and above all become a good landlord, you can definitely gain huge rewards being a rental property owner. You may even consider expanding your holdings to several properties or other commercial real estate. The opportunities are endless.

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