Avoid buying a house in South Africa
Avoid buying a house in South Africa
Avoid buying a house in South Africa
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What do you think? Is your house a asset or a liability?
I'm hungry for knowledge like I'm hungry for food.
"I beg to differ. Buying a house is an investment. If you don't buy a house, it means you have to rent, i.e., paying another person's bond. What is important is to buy a property that you can afford."
Where would you live ?
Would you rather live in a place that you are paying for or would you pay rent to someone else who owns the property ?
If you pay for your own place you are in the long run not going to have to pay rent .
You will always have that expense of living.
Would you rather pay it to someone else and have nothing to show for it ? ( It will be a expense for as long as you live because you need a house. )
or would you buy your own place ?
Blackrock agrees with you.
Is a trust the only way to go about it or does a pty ltd has the same property as a trust?
Why rent if you can own your own property why pay someone's bond it make no sence
Do you have courses for foreigners who are seeking to buy real estate in South Africa?
The way I see it is that rent is a fixed expense every month and is the max you'll pay – making it easy to budget and prioritize putting money into savings. With a bond it is the minimum you'll pay and becomes a variable expense each month making cashflow and budgeting difficult. I rent now (cheap rent) after owning a flat and a house. My living cost halved and I am able to follow a budget much better. Once I am happy with where my investment and retirement balances are, then I will look into buying a property again. There are many perks to owning, I just think majority of folks don't end up living in a purchased property long enough to gain from it financially.
Purchasing property should be a 5+ year commitment to balance out the interest, lawyers and realtor fees…
NB a retired person cannot afford to pay own trust a rental. This scenario can only benefit those people who earn good monthly salaries
The bank will usually sell a bond protection insurance against job loss etc, so you should not lose your house if you lose your job. There are downsides to opening a trust.
So you will rather just pay rent ?
Not me !!
Simple solution:buy a house with cash🙂
If you can afford to buy a house, buy a house. Unless you like moving every year, which can happen when renting since owners can decide to sell or hike rent so high you rather move. Listening to Rich/Poor Dad dude is not wise since I doubt he has South African market in mind. But, to each their own.
its not the Bank that own the properties anymore the Bank sells your deeds to the Chinese
Die is mos nou die channel om te follow 🙏🏻👌🏻🔥
Do you know how expensive is a trust?😭 but yet again this is just content
As a professional, it would be a liability to own a house in the event of litigation. Not saying that its a bad thing, but as a young person, that is worth considering and a trust is definitely a good thing if one were in the market to obtain a bond. Yes, I said a bond, not a house. After 20 years its your house, but for now, keep paying the bills till you're 50+. I have reservations about bonds and the risks involved. Repossession is scary especially nowadays with ever increasing retrenchments etc. There are lots of people advocating for renting rather than buying and that is complicated topic on its own. But Less risk, compared to a bond. food for thought.
Purchasing my home three years ago has proven to be the wisest decision I've ever made. Renting from others often leads to numerous challenges and uncertainties. Dealing with landlords who exploit tenants and restrict any personalization of the living space can be frustrating and costly. Having rented for most of my life, I understand the constant feeling of transience and instability that comes with it. However, since investing in my own property, I've experienced a newfound sense of security and pride of ownership. Not only have I enjoyed the stability of staying in one place, but I've also seen a substantial increase in the value of my property. In just three years, I've witnessed a significant appreciation, with the potential to walk away with a substantial profit should I choose to sell.
I believe you speak with facts brother, this is based on a true story