Should you rent or buy a house?
It is a question as old as time. Is renting or buying a property the best decision to make for your future finances? This debate has many sides of the coin, but we aim to delve into understanding what each option entails and how you can benefit from either.
Do most people own or rent in South Africa?
Statistics indicate that the majority of South Africans own the homes they live in. A large percentage are paying off their home loans and working towards getting ahead of the ever-fluctuating interest rates. The latter percentage are renting houses, apartments and other properties with leases as individual as the next. While renting offers you more flexibility in terms of moving around and planning for your future, owning a home is a massive responsibility to undertake. The current economic circumstances call for serious decision-making before entering the real estate market.
REALGLEN Properties has a range of properties to let and properties for sale for you to choose from. With our expert guidance, you can determine the right choice for you and your family. The areas we specialise in feature a wealth of properties that you can invest in or rent for the foreseeable future. Ranging from apartments to homes in gated estates, you can achieve the property of your dreams in Gauteng sooner than you think!
Is it a wise time to buy a property?
With many exciting prospects for 2024, you could add another to your life by embarking on the home-buying journey. However, this is only encouraged when you think long-term about your lifestyle. With renting, you have the freedom to move around and experience new regions, be able to embrace job opportunities in a different city and enjoy the flexibility of finances by not having to pay a bond.
However, since many areas experience considerable property appreciation, you might want to invest before the area you are after is out of your price range. The best way to identify when would be the ideal time for you to buy a house is to work with a financial advisor and one of our property practitioners who can advise you on the expected price when you are ready. You can then work with your financial advisor to reach this goal by setting targets along the way.
The benefits of buying a house in South Africa
Would you like to get your investment back, plus more? The capital you invest in buying a house is almost guaranteed to appreciate depending on when you decide to sell. It has the potential to become a valuable asset and your property can prove its worth on the market. Real estate performs well in the South African market, especially with foreign investors wanting to own land here. You double your chances of getting your asking price and then some by selling to foreign markets as well. If stability is a big priority for you and you are looking to put down roots for yourself and your family, then owning a home is the right option for you.
Renting while you search for your dream home
REALGLEN Properties has an endless list of properties to let that you can enjoy while you save up for that special home you have your eye on. We offer safe, central areas and affordable living in some of the most popular suburbs and estates in Gauteng. You can get a feel for an area, experience what it’s like to live in different types of homes and work on building your credit while living in a stunning property. The opportunity to rent to buy is always an option, with the help of our excellent property management skills. Take comfort in knowing your real estate future is in the best hands and make a good move to rent or buy with us today.