Property Rentals Make Good Sense

Private Property South Africa
Private Property Reporter

After enduring a long and draining global and local recession, citizens everywhere are looking forward to the time when they can breathe easier when assessing their monthly budget and facing the bills that arrive with alarming regularity - whether by post or email.Even now, as estate agents, economists and finance journalists consider the next phase in the market cycle, which has to be a boom (no matter how slight), property owners are still turning to property rentals to offload debt and ease cash flow.While property rentals are by no means cheap, they’re still a lot more affordable in the short term than the crippling effect that high interest rates have on mortgage repayments for many home owners.Property is considered to be one of the best long-term investments anyone can make, but it has to be well-timed from both buying and selling points of view. Now, as property valuations stabilise, and home ownership starts to become viable again, young couples and families are looking to property rentals to help them regain their financial footing. For lower income earners, who may struggle to qualify for a bond, it’s the only option.Renting before buying has many advantages. It’s the ideal way to assess if a particular area suits your lifestyle aspirations - some people choose to relocate within a city to get closer to children’s schools or work while others move between cities as they build their own careers or support the career path of a partner. Renting a property gives you time to assess things like weather and traffic patterns, neighbourhood noise, shopping and entertainment facilities, and access to medical services in the area where you rent or in the neighbourhood that you would like to live in. Either way, you save on expensive relocation costs every time you decide to try somewhere new.

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