I always tell people to have their own definition of life your definition of love definition of wealth definition of success definition of family and healthy living, what makes sense to you does not have to make sense to everyone...
12 years ago i started saving my money through buying a house at a time am at a decent position now coz the values of the houses have doubled now. Its very different from renting and way better than renting. One will never get that rent money back whilst my properties continue to gain value.you cant even compare the 2. Rent/buy
I’ve been renting for a few years. I don’t wanna be tied to a certain place because I like moving every few years. Also, all the money that I save via renting, I put into my investment portfolio.
From an African context i believe its essential to own a home through buying, inheriting, RDP or whatever means. Primarily because of the low incomes in Africa it helps to not have an accommodation cost. Owning property is a corner stone for creating generational wealth and for those buying its more of leaving an inheritance for the young generation.
The issue with renting is that you're at the mercy of the landlord. At anytime they could decide to terminate the rental with 2 month's notice. Some landlords also don't maintain or repair their properties and the tenant has to make do with homes that aren't ideal.
Bro!!! This is so informative!!! Thank you for doing this. I Thank the universe that it made me value your opinion. I always learn from you. Keep being you bro. Bas-T
My mission in life is not to be a burden on my child as I get older. Best way to accumulate wealth as middle class is to buy a home as early as possible. When you rent your whole life you become a burden on the state and your family as you get older. Poverty stops in my generation. I do not want to be be a burden, which is why I save and accumulate assets.
Imagine paying 10k per month on rent ,in 20 years one would have paid R2,4m 😂its actually silly to rent . A R1m property will surely be R3m in 20 years. How could any one in their right mind think buying and renting is the same. Sometimes property gurus just say anything because they know people will just clap hands for them.
This is really bad advice. House insurance is to cover catastrophic damage while you still alive. Life insurance is for when you die. What happens if your home burns down, water damage or roof damage and you don't have house insurance. Life Cover does not cover this.
