Based on current median pricing – renting a house over a 30-year period will cost you approximately $1million while investing in a home of your own will amount to ±$1,2million.
Having worked your whole life to pay your landlord’s mortgage you’ll be $200,000 (approximately $130 a week) better off but with absolutely nothing to show for it! Unless you made a point of putting away the $520 dollar saving towards retirement how will you discharge your monthly rental after you’ve stopped earning?
Should, on the other hand, you decide to invest in a home of your own in 30 years later your asset is guaranteed to be worth more than $1.2million, you’ll be living rent free and facing a secure and comfortable retirement!
The biggest stumbling block to buying a home is getting “the deposit” together. South African expat buyers who hold retirement annuities and pension investment back home don’t have this problem because they are fully entitled to cash-in their policies and to transfer the proceeds abroad to use as a deposit when buying their home. Where there’s a will there’s a way!
To find out how much money you may have sitting in South Africa get your FREE PERSONAL FINANCIAL REPORT and start looking at FOR SALE rather than TO LET signs!
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