Good decision is relative to your capabilities. If you have no financial education, and you live in a country where 99% of financial advice is scam, buying an investment property is easy to understand and relatively less likely to go wrong.
That basically describes me before I started reading Less Wrong. The property I bought 20 years ago is still mine and generates some passive income. With other investments, where I tried to do smarter things, the money evaporated. Only recently I learned enough (and the situation in my country changed enough) that my investments actually make money. So, considering the situation I was in back then, buying the property was the right choice.
Another thing to consider is if you have children and you know that one day they will need some place to live, and no one knows how expensive houses will be. So you buy something today, rent it for a decade or two, but the idea is that it will be for your children one day.
Good decision is relative to your capabilities. If you have no financial education, and you live in a country where 99% of financial advice is scam, buying an investment property is easy to understand and relatively less likely to go wrong.
That basically describes me before I started reading Less Wrong. The property I bought 20 years ago is still mine and generates some passive income. With other investments, where I tried to do smarter things, the money evaporated. Only recently I learned enough (and the situation in my country changed enough) that my investments actually make money. So, considering the situation I was in back then, buying the property was the right choice.
Another thing to consider is if you have children and you know that one day they will need some place to live, and no one knows how expensive houses will be. So you buy something today, rent it for a decade or two, but the idea is that it will be for your children one day.