It is Time to Make Owning a Home a Reality!
The Homeownership Ladder
For many South Africans climbing onto the home ownership ladder and buying your first home seems like an unrealistic dream. And so, we end up resigned to living in rented accommodation and vulnerable to the demand cycles in the property market, and to the sometimes unpleasantness of dispassionate landlords. Instead of providing our families with emotional stability and security at home we endure the frustrations and anxieties of living in someone else’s house.
The rent we pay does not return to us with any capital benefits, it is sunk money contributing to the investment returns of landlords. Of course, we need a functioning, competitive and well-regulated rental market as the affordability gap between owning and renting is sometimes just too big. Sadly, studies show that the longer we take to buy our own home the bigger this gap becomes. It’s rather like running after a train at the station, it is easier to jump aboard before the train leaves the station and gathers momentum.
The Plan
For many people renting houses there is, however, good news. With careful personal budgeting and the discipline of making some hard lifestyle choices, you may be able to move into your own home.
But like most good things in life to achieve this goal we need a plan and discipline. The plan starts with our family’s buy-in to our household budget. Sacrifices will need to be made. You may have to decide to down-trade your motor car. Remember that your vehicle is not an appreciating investment but simply a means of transportation. Buying that much desired flat screen television may also have to be reconsidered. We should not delude ourselves by believing that all our purchases are in fact necessary – we must make those hard decisions about what is truly necessary for our family.
Making Home Ownership a Reality
With a determined and planned approach (and hard work) you may find that owning your very own home becomes a reality. It may take time to get there but it will be well worth it when you are finally handed the keys to your home.
The sense of pride for you and your family will be real. Your children will have the emotional security of their very own home and you will have purchased an asset which will, over time, grow in value and be a long-term investment. This investment can one day help you raise a loan to fund your children’s education or supplement your retirement funds.
You should make the decision today to change the trajectory of your family’s life and plan the road ahead to buying your home. At Chartwell, we are passionate about home ownership and have been committed for more than a decade to helping people achieve this important goal of home ownership. Please reply to this email, one of our well trained agents will guide you through your home ownership journey.
