The Financial Coach

MANAGING PEOPLE AND THEIR EMOTIONS AROUND MONEY

There’s something insane about buying a R1.6m property that you can rent for less than R6000pm

I was recently approached by a client about whether or not I thought he should sell his rental property. Let’s take a look at the facts: Bought in 2001: R210k (a further ±R70k spent on renovations). Current value: ±R1.58m (he hopes) Current rental: R6000 pm (it’s a 27 m2 1 roomed apartment in Stellenbosch) Levies …

Rocket science or common sense?

One of the things that I just cant get my head around is the price of residential property. If the experts are to be believed, then the average house price in SA is somewhere around R550000. In order to buy this property, you would need to put down a deposit of at least R110000 (20%) …