Streaming issues? Report here
John Maytham 2019 1500 BW
Afternoon Drive with John Maytham
15:00 - 18:00
volume_up
volume_mute

Up Next: The Money Show with Bruce Whitfield
See full line-up
Afternoon Drive with John Maytham
15:00 - 18:00
Home
arrow_forward
Lifestyle

Rent or Buy? 'Property is not a short-term investment'

23 August 2019 7:15 AM
Tags:
Renting
Property
Buying property
homeowners
Just Property CEO Paul Stevens to discuss the pros and cons of renting versus buying and the hidden costs involved.

You're a working professional with a steady income, and perhaps it's time to take the leap and buy a home.

Kieno Kammies speaks to Just Property CEO Paul Stevens to discuss the pros and cons of renting versus buying and hidden costs involved.

He talks about the options of buying investment property versus buying a home in which to live. He says it is a personal choice but advises people to live within their means and seek professional advice.

It is vital to understand the long-term effect of property, he says.

Over time property always gains value.

Paul Stevens, CEO - Just Property

He says it almost never stays stagnant and never decreases in value, this despite recent media coverage about property prices dropping.

He does acknowledge that the fast escalating Cape prices have resulted in a current cyclical downtown.

But over the long term, it doesn't slump.

Paul Stevens, CEO - Just Property

RELATED: Buying for investment purposes may be nub of problem suggests property economist

It's all about strategic timing and property is not a short-term investment, he adds.

Take into account the costs such as rates and taxes, utility bill deposits, levies, security, and maintenance, which can be considerable.

His advice? Speak to a professional before buying.

It's not just your upfront costs, but your down the line costs that need to be considered.

Paul Stevens, CEO - Just Property

Despite everything, Stevens says getting into the property market over the long-term is advisable.

Property very, very often far outstrips other investments.

Paul Stevens, CEO - Just Property

Take a listen to the interview below:


23 August 2019 7:15 AM
Tags:
Renting
Property
Buying property
homeowners

More from Lifestyle

4 things you should never say if you want to get rich

20 September 2019 2:01 PM

Don’t ever say or, worse, believe any of these wealth-destroying platitudes, implores personal finance expert Warren Ingram.

Read More arrow_forward

Why are you still paying an advisor when your investments are not growing?

20 September 2019 1:19 PM

Should you DIY? Personal finance expert Warren Ingram answers definitively, shares tips on telling if an advisor is good or not.

Read More arrow_forward

US green card seeker? The EB-5 investor visa is about to cost a whole lot more

20 September 2019 12:43 PM

South Africans who want to gain a green card via the EB-5 investor green card programme must brace themselves for a price hike.

Read More arrow_forward

Here's how to secure all-expenses-paid trip to Antarctica this summer

20 September 2019 7:27 AM

You could secure a berth on the Sansa and make your way to Antarctica, leaving Cape Town in December.

Read More arrow_forward

'It's OK to have hope' - Facebook group #ImStaying celebrates SA's potential

19 September 2019 5:00 PM

The Facebook group, titled #ImStaying, started off with uplifting messages and is now connecting local initiatives with investors.

Read More arrow_forward

[LISTEN] Why you should always check the validity of your contracts

19 September 2019 3:43 PM

Consumer journalist Wendy Knowler details two complaints from Vodacom customers who were locked into the wrong contracts.

Read More arrow_forward

How to buy a new car even if you don’t really have enough money for it

19 September 2019 2:26 PM

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

Read More arrow_forward

Digging up the secrets of Cape Town’s hidden treasure

19 September 2019 12:29 PM

Discover the real story of Bo-Kaap… a colourful story that will surprise you in many ways!

Read More arrow_forward

69% of credit card fraud victims are old and alienated by technology

19 September 2019 11:57 AM

Most people who fell prey to credit card fraud in the first three months of 2019 were old, says consumer journalist Wendy Knowler.

Read More arrow_forward

The truth about '100% fruit juice' and why food labelling matters

18 September 2019 4:11 PM

What's the difference between fresh fruit juice and reconstituted fruit juice? A food testing expert explains the technicalities.

Read More arrow_forward