FIRST TIME BUYERS
everything else that comes with property ownership . They were wise enough to point out that they would in the meantime be saving so that when they are ready , so that they can have some cash available to help with the deposit and other costs to ensure they can reduce the monthly repayments and save in interest payable .
Closing remarks on the youth and their perceptions on what property is all about
Most young people want their own ‘ space ’ , but this is unfortunately not something that can just be acquired , one has to progressively work towards attaining that freedom . They also differ widely in terms of owning at a young age , because of meeting a potential life partner who may want something else , or worse still , there ’ s is a what if question of ‘ what if we want to buy elsewhere and I have another bond ’ and many other small , but big concerns which are real . I have resonated with the savings part , which still allows that opportunity to buy and not be hindered by affordability issues at a later stage .
Moreover , if a young person chooses not to buy today , then it is highly advisable to start saving , because when they do decide to buy , it will be highly beneficial to have savings , it widens the choice instead of being constrained to a place you do not like due to low affordability . Big word I think , is to save money as it will give you your immediate freedom , the government will not give you the freedom , you have to define what that freedom is for you , and you have to work towards that , property will never be a bad choice for wealth building , but you have to know what you are doing , and know why you are doing it . Looking at the current economic challenges , girding yourselves up as young people will go a long way in helping you to manage your expectations about what is possible and the time frames involved in getting things to work .
Matseleng Mogodi Principal Agent Snooks Estates
SA Real Estate Investor Magazine JUNE 2022 49