Homeownership Today
Monday, August 18th, 2008Advantages of Owning your own Property
Your home has more than just it’s investment value. Homes are about families and families are our future! Both you and your family can live in it so avoid paying rent to somebody else. Buying your home is probably the singel biggest investment you will make in your life time.
It is not only a major financial commitment, but also an emotional experience that normally results in an exciting change in lifestyle. Whether you are building your own home or buying an established property, you are investing in your future wealth and security needs. Your home could well become the foundation of financial independance for you and your family.
One of the benefits of having spent a fair amount of time on this planet is that I have witnessed times when it seems nothing can undo the downward slide of property values.
or buying an established property, you are investing in your future wealth and sevcurity needs. Your home could well become the foundation of financial independance for you and your fasmily.
I don’t remember much of the 1960 and 1976 housing sell-offs, but they were triggered by internal political events from which we were supposed to never recover, and an army of skilled people packed for Perth. It was the trough of the mid - 1990’s that I remember vividly, when we were faced with interest rates of over 25%. Again, there was panic in the land and another quarter of a million South Africans uprooted themselves for safer terrain. As with previous drops which have happened many times before, Property recovered rather nicely and property owners and investors (yes, this is probably you) over the last few years have had a feast with price growth that topped the world as the market corrected.As long as records have been kept, property prices (as well as stocks and shares) have moved in a cyclical fashion, up and down every few years. So if you own property, consider that it’s a long term investment and don’t sweat the peaks and troughs - wherever you go on the planet, you will have to live with the same movement. Get your mind right and you will find many opportunities in the market.
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