On this episode of Ask The Experts, Alka talks about how you can overcome some of the challenges in real estate in 2022 for first time buyers and homeowners looking to make changes.

KEY TAKEAWAYS

• What will happen is that the housing market will be challenging for the next generation of buyers: the millennials. They will move from big cities into rental accommodation because house prices are soaring astronomically high, this means big gains for the market, but not always for consumers. We need to pay attention to the market and interest rates which will affect mortgages. You need to budget and plan ahead to provide for your family and maintain your lifestyle.
• Homes on the market have doubled or tripled in value. Despite the given rise in housing costs in cities, the population is being driven by the baby boomers who are looking to settle away from the big cities and the pandemic, Covid has totally shifted the way we live.
• People with fixed, low incomes will be affected the most and shut out of the housing market. It’s going to be really difficult to navigate the problems they will have to face, especially if they are the sole breadwinner in the family.

BEST MOMENTS

‘The pandemic has given us a shift in how we worked. We were all working from home.’

‘A lot of people value living outside big cities because there’s more space, there’s more land, more open space. It’s important for people, especially for kids to run around.’

Construction is going on everywhere. As a property investor, keep an eye on what’s being built in your local area.’

ABOUT THE HOST

Alka Sharma is a Real Estate Investor. She has a zest for life, helping her clients gain knowledge and insights into property investing. Alka takes her time to make sure her client’s needs are met.

Alka is an accomplished, professional ballroom dancer having competed both nationally & internationally.

Alka is grateful for all her experiences that have shaped her today as a successful Entrepreneur, Real Estate investor.

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