Do you own your current property?

[duckgray]

After reading the various views about owning vs renting property in another thread (link), I'm curious to see what your current living situation is.

 

[3WA]

I'm renting a house and paying off a flat that is rented out.

 

[Sinbad]

Renting while we wait for our new house to be built

 

[powermzii]

When you say own do you mean fully paid up bond? Or?

 

[Nanfeishen]

Own, bond free.

 

[nazmo]

own one (renting out), paying bond on current house bought earlier this year.

 

[Tman543]

Renting and renting out own property. Called it rent to rent strategy.

 

[duckgray]

When you say own do you mean fully paid up bond? Or?

either/or

 

[Matt91]

I'm paying off a bond, I don't see the point in paying off someone else's.

 

[duckgray]

I currently own two properties one of which I live in and I rent out the other. Both still have outstanding bonds but the rental property should be paid off by next year.

 

[My_King]

Renting from FNB, after another 12 years its mine

 

[Neuk_]

The bank technically owns our house but yes, we bought our house.

 

[Alton Turner Blackwood]

When you say own do you mean fully paid up bond? Or?

Even if the property is bonded, you are still the owner.

 

[GrootBaas]

I'm renting a house and paying off a flat that is rented out.

Does that not technically mean you have to pay tax on your rental income (or profit at least) but can't deduct your rent expense? Or does SARS allow you to play it off against each other?

 

[notayoba]

Bank owns it. One day when I'm old it will be mine.

I look at a mortgage as a sort of semi stabilized rent. Every year it becomes less and less in real terms, and after 10 years or so it becomes an insignificant part of your budget, and way less than rent for the same property would be.

 

[3WA]

Does that not technically mean you have to pay tax on your rental income (or profit at least) but can't deduct your rent expense? Or does SARS allow you to play it off against each other?

Profit?

Just kidding, I run at a loss (so get tax breaks) and will try to sell once my tenant's lease is up, but I need the house I'm renting, since I'm cohabiting with a messy girl and a dog who wouldn’t fit in the flat.

 

[unobeat]

Own it
Paying bond off and 13 years still to go but hopefully will pay it off sooner.

 

[Kung Fu Porkchop]

Bought a house less than a year ago. Before that I was paying off a friends house by renting from him for 6 years. Didn't see the point in paying off someone else's bond anymore so I bit the bullet.

 

[Kung Fu Porkchop]

Renting while we wait for our new house to be built

Isn't building a house more expensive than buying and renovating?

 

[WollieVerstege]

Other. The family trust owns all my properties.