Beyond Kashmir’s Real Estate: Building a Legacy Through Education
In the last 20 years, Kashmir’s real estate market has seen huge changes, especially in land prices. What used to cost around 5 to 10 lakhs is now worth 1.5 to 2.5 Crores. This dramatic rise in land prices shows the potential for great returns on investment, with an annual growth rate of 15-20%.
But when it comes to building homes, the story is different. Two decades ago, constructing a house would cost about 40 lakhs. Today, the cost is around 1.20 Crores, which is an increase of just 2.5 to 3 times. This shows that while land appreciates in value, the return on investment for constructing properties isn’t as strong.
Sadly, many people spend large amounts on cars, which lose value over time and don't provide returns. This can harm our finances, especially when we think about securing a stable future for our children.
To fix this, we need to rethink how we spend our money. Instead of focusing on buying things that lose value, we should invest in something that lasts—education. By spending on skill development, we ensure a better future for ourselves and our children.
While building a home is a common dream, it’s important to match that dream with our financial reality. Taking on too much debt can cause financial stress, especially if the interest rates are higher than what we earn.
Managing money well means getting educated and seeking advice from trusted financial experts. It’s essential to talk to people who care about your well-being, not just profits, to help you make smart decisions.
Investing in education and skills is the key to securing a better future. By focusing on knowledge instead of material things, we can leave our children a legacy of wisdom, not just possessions. This shift will open up many opportunities for success in the future. Together, we can create a better world for the generations to come.
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