Deciding whether to rent or buy a property is a crucial decision for many South Africans. In the latest episode of Gold Table Talk, Savas Nicolaides, Principal of Century 21 East Rand, delves into the core differences between renting and buying and offers valuable insights to help you make an informed choice.
Renting is often the go-to option for young professionals who may not yet have the financial means to purchase a home. With fewer upfront costs and no responsibility for levies, rates, and taxes, renting can be more affordable in the short term. On the other hand, buying a property comes with its own set of expenses, including transfer duties, legal fees, and ongoing maintenance costs. However, the long-term benefits of owning a home far outweigh the temporary savings of renting.
Savas Nicolaides emphasizes that affordability is the main factor when choosing between renting and buying. Renting allows tenants to manage their budget without worrying about additional costs, while buying builds long-term wealth through asset ownership. As Savas points out, investing in property is about creating a future asset that appreciates over time.
Century 21 East Rand provides expert guidance throughout the buying and renting process, from professional vetting and lease agreements to helping first-time buyers navigate the complex world of real estate. With the right advice and support, you can make the best choice for your financial situation and long-term goals.
Watch the full video here: https://youtu.be/UYCMynSdwM0
Visit the Century 21 website at www.century21.co.za explore your options or connect with the East Rand team today.