Buying real estate will always be one of the best investment decisions you can make. The property market works in cycles, so if you hold on to it for long enough (some say about 10 years), you can sell your property for a good price. Estate agents are beginning to talk up the real estate market as interest from prospective home buyers is increasing in line with the gradual stabilisation of housing prices. But bonds are still hard to come by. Banks are reluctant to grant mortgages so those eager to buy have to put that dream on hold, while those desperate to sell continue to struggle with their debt burden.You can get some good deals in the “fixer upper” category - it’s one way to get into the real estate market if you’re prepared to save funds for a new coat of paint and make do until you can afford renovations. That’s the best way to make a good return on your investment - fix it up, sell it for profit, and move on.Choosing the right area to buy into is vital - the experts recommend that you buy the worst real estate in the best area. That immediately attributes extra value to your property.You could also forfeit convenience by moving further out of town, where bigger properties are usually available at better prices. Yes, you will have to make some sacrifices but it’s worth it in the long term. You could always plan to buy in your preferred area later on, unless you become so accustomed to life in suburbia that city living loses its appeal.Once you sell, you could reinvest your money in more valuable property or, say, two smaller properties in order to expand your property portfolio. At the very least, it’s one of the best retirement plans around.
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