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There's no doubt that owning property comes with its risks. However, if you do your research and buy right, then owning property can be incredibly lucrative. 

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1. Illiquid Asset

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2. Maintenance and Repair

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Before you buy a property you must understand all the work that is required and any repairs that need carrying out. As a general rule of thumb, the older the property the more problems it is likely to have and will continue to have later down the line. 

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3. Defaulting on your Mortgage

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A mortgage is simply a loan that is backed by a property. What this means is that if the person who bought the house cannot keep up the monthly repayments then the mortgage lender has the ability to sell the house and recoup the money they initially put in. Not keeping up the monthly repayments on a mortgage is known as defaulting.