Savvy Women: Build Your Retirement Fund By Investing In Property

Written by Sapphire Savvy Women Group.

 

Investing in properties is one of the best ways to be financially secure to ensure that you have a little nest egg for when you are ready to retire. In our weekly SWG blog we recognise property as a great investment option. If you have some funds saved up, it is not too late to plan your future and begin building into your retirement pot.

Finder conducted a survey across the UK in 2021– assessing how much Brits currently have saved in their pension pots. It found that after a lifetime of saving: “The average pension pot in the UK for all Brits (both retired and non-retired) stands at just £42,651.”

“With pension specialists recommending that someone retiring at 67 should have at least £237,000 saved for a ‘comfortable’ retirement.” In total 19% of the population have “no form of private or workplace pension, meaning around one-fifth of the nation having no pension at all.”

 

BECOME A LANDLORD

 

You can build up your finances by becoming a landlord and have tenants in the home that you are going to rent out.

You might not see the profits right away but by the time you retire, you will have hopefully paid off the mortgage and then you will reap the benefits of investing in property.

By that time, you may decide to keep the house or keep renting it out to keep an income for yourself and your family. It is profitable in the long run.

 

Helpful Tip: It is suggested that you invest in more than one home at a time if this affordable for you. It is more profitable that way. You can earn larger sums of money and it does take a lot of time and patience but if you are willing to be patient, your hard work will pay off.

 

PURCHASE OF HOLIDAY HOME

Another way to generate income for your retirement is to purchase a property in the country or abroad and rent it out as a vacation home for visitors or vacationers’ kind of like a bed and breakfast. That could turn into a profitable source of income and one that could help you retire comfortably.

Not only are these really good ideas but depending on the location it would be ideal for tourists or visitors. The more inviting and attractive you make the house; the more people will want to pay to either vacation or stay there. Maybe call around to local hotels and see what they charge to have people stay there and base your price around that.

In the UK there are tons of properties that you can look at to see which one would be more suited to this kind of investment.

Download our FREE Complete Beginner’s Guide to Property Investing now!

Having amenities near is a bonus although not always, dependent on your target market. Keep in mind, it takes a lot of time and effort to get exactly what you want but it will be worth it if you are able to retire and enjoy life a little bit more.

What if this was your retirement home?

Imagine having a quaint house like this one?

Just think of it this way either you can own it or rent it out.

If you rent it out, you can have a great regular income stream coming in and when it is time to retire you will be able to very comfortably.

 

 

On the other hand, if you decided to keep it for yourself, this would function as a good retirement property. You probably made enough money in the investment to be able to retire and live comfortably with your family off the income you made. You can make this your retirement home instead of renting it out. It depends on what you want to do with your investment.

 

SELLING PROPERTY

If you’ve chosen the right location for your investment property type, selling your property will be a relatively simple process- albeit it can take a while to fully finish a house sale. E.g., things like a property chain – this occurs when selling a house, your buyers are also probably selling their house and you may have a residence that you could be selling too. This is a normal process but one you should expect to take a little bit of time.

As we have talked about in many of our previous blogs, if you sold your pretty a good few years down the line, the equity in the property would’ve compounded and the value and selling price of the home would increase, leaving you with a nice sum of profits that you can take and do what you like.

 

FINAL THOUGHTS

Savvy Women is all about empowering the modern woman, who juggles work, life and family. We know that for many women, you have worked hard and diligently for many years, but you may still have neglected to contribute to your pension fund or maybe don’t yet have a solid plan of what you’ll do when hanging up your work boots.

Creating a financial plan is a necessary step towards the freedom you are looking for in your life, perhaps property would be right for you. Why not consider it as the wealthy do?

Sign-ups for our Savvy Investor Academy are now closed, so instead join our AQA accredited property courses today – upskill yourself and increase your investment knowledge. Download our FREE Complete Beginner’s Guide to Property Investing now! Or book a FREE-45-minute business consultancy call – and kickstart your journey to success



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