Ride it out imo, inflation and rising building costs will keep your investment safe, if you can hang on to it that long
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Question of the Day: How do you normally pay for purchases in stores?
SA house prices starting to fall!!
- Thread starter Skinner
- Start date
Ride it out imo, inflation and rising building costs will keep your investment safe, if you can hang on to it that long
His ranting and raving is the visible outlet of a man completely dissatisfied with his lot in life. Best to ignore it as there is no helping it.
Turiko
Banned
I am tired of being told I made a mistake buying my house last year. So what? I DIDN'T buy it for investment purposes. I bought it with the express purpose of having my own place to stay and stability, and no bastard landlord with his 6-month rent increase, failure to do anything about the problems, and generally trying to screw me over.
The house I was renting, was built in 2004, and by the time I moved out the master bedroom wall was busy moving away from the rest of the building- it cracked right through to the outside. He owned the four units i.e. two sets of two houses on top of each other. He then proved himself to be a racist by making me pay over R10k as a deposit. He let all sorts of trash move into the unit above us and next to us. First it was a bunch who moved in 3 months after we did, who held parties all weeked with loud blaring kwaito and slaughtered chickens in the unit. They eventually moved out after they got gatvol of me calling the cops all the time. They threatened to kill me and my wife and kept saying they were part of the ANCYL and that I'd be first on their list when Zuma comes to power. Then, in moved a quieter bunch eventually after more than a year. Next door to us we had to endure some bitch who abused her kids and smacked them to within an inch of their lives. She was replaced by a bunch of rednecks who kept parking us in, dug up the common property (with absolutely no reprisals) and kept making noise with their Bok van Blerk crap music. And then I had to put up with their unruly children who got hold of a hammer from somewhere and chopped holes in the walls
The body corporate was absolutely absent in this complex aswell. Complaints I faxed ended up under the attention of the landlord who then turned and twisted everything and forced me to apologize to the body corporate for complaining.
And after all this you expect me to consider renting? Never again, NEVER EVER again!
I don't intend selling any time soon either. Where I am now I have my own yard, no-one living above me making a fscking noise at all hours, no slaughtering of animals, and no fscking landlord trying to manipulate me.
And it came to my attention recently that we have managed to pay off the interest in our bond and make a dent in the capital amount. It was fscking tough but we did it... We bought for far less than we qualified for.
The net income is decreasing in our house by factors we can do nothing about: such as the petrol price and the cost of food. It's not the debt that is riding us despite high interest rates.
The house I was renting, was built in 2004, and by the time I moved out the master bedroom wall was busy moving away from the rest of the building- it cracked right through to the outside. He owned the four units i.e. two sets of two houses on top of each other. He then proved himself to be a racist by making me pay over R10k as a deposit. He let all sorts of trash move into the unit above us and next to us. First it was a bunch who moved in 3 months after we did, who held parties all weeked with loud blaring kwaito and slaughtered chickens in the unit. They eventually moved out after they got gatvol of me calling the cops all the time. They threatened to kill me and my wife and kept saying they were part of the ANCYL and that I'd be first on their list when Zuma comes to power. Then, in moved a quieter bunch eventually after more than a year. Next door to us we had to endure some bitch who abused her kids and smacked them to within an inch of their lives. She was replaced by a bunch of rednecks who kept parking us in, dug up the common property (with absolutely no reprisals) and kept making noise with their Bok van Blerk crap music. And then I had to put up with their unruly children who got hold of a hammer from somewhere and chopped holes in the walls
The body corporate was absolutely absent in this complex aswell. Complaints I faxed ended up under the attention of the landlord who then turned and twisted everything and forced me to apologize to the body corporate for complaining.
And after all this you expect me to consider renting? Never again, NEVER EVER again!
I don't intend selling any time soon either. Where I am now I have my own yard, no-one living above me making a fscking noise at all hours, no slaughtering of animals, and no fscking landlord trying to manipulate me.
And it came to my attention recently that we have managed to pay off the interest in our bond and make a dent in the capital amount. It was fscking tough but we did it... We bought for far less than we qualified for.
The net income is decreasing in our house by factors we can do nothing about: such as the petrol price and the cost of food. It's not the debt that is riding us despite high interest rates.
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Unless you can buy it cash (like me).
On the contrary, I am extremely satisfied with my situation. I sit in Europe, waiting to come back to SA, with a huge sum in Euros itching to be converted to Rands. Apart from that I have several SA and European investments, and waiting to buy property in SA as soon as the time is ripe.
So, you had a bad experience renting. Eventually one learns how to spot poor places for potential renting. The first couple of places I rented, were crap (similar problems than what you listed above). Afterwards I learned what to look out for, and so my last couple of places were excellent. No problems whatsoever. And dirt cheap. No mess, no fuss.
It is time South Africans got rid of this stigma of being obsessed with owning a property. In Europe, we all RENT. RENT, RENT, RENT. The property and rental market in SA is becoming more and more suitable for renting only. And the rental prices are still very much cheaper compared to here in Europe.
So: TIGHTEN THE BELTS and RENT. Seriously.
In the spirit of this thread.....
.....I am about to put two vacant plots on the market, in Langebaan. Both are in security estates, the one is less than 200m from the beach with sea views (Langebaan lagoon) and the other is near the Mykonos resort, also with outstanding views.
I dont know if I may put details here, but if anyone is interested, PM me.
Cheers
.....I am about to put two vacant plots on the market, in Langebaan. Both are in security estates, the one is less than 200m from the beach with sea views (Langebaan lagoon) and the other is near the Mykonos resort, also with outstanding views.
I dont know if I may put details here, but if anyone is interested, PM me.
Cheers
On the contrary, I am extremely satisfied with my situation. I sit in Europe, waiting to come back to SA, with a huge sum in Euros itching to be converted to Rands. Apart from that I have several SA and European investments, and waiting to buy property in SA as soon as the time is ripe.
Sure.
Normal people who are happy with their life don't go around jumping up and down with glee when others are having a hard time. Nor do they admonish others for making different choices and constantly lecture (I use this in the loosest possible terms) them.
And I say normal above so at to leave the door open for behavioral analysis of mental defectives.
Turiko
Banned
I agree with you 100%. I am sick of the constant lecturing. It is my fscking life and I think I made a good decision. This person on the forum comes here to brag about how much money they've got. I wish they'd go away and go and post in other forums where their mates hang out.
So I am told I must rent? I get told I have an "obsession" with owning a house? I am sorry but I am not going to live in a place where I am subject to rent increases that far outstrip the impact of interest rates on the bond, where I have to pay for supposed fair wear and tear, where I can't even hammer a nail in the wall or paint the blasted wall.
Typical sentiment of people who can't take the heat in SA and run overseas at the first sign of kuk and then want to come back here when the supposed kuk has blown over. Chicken ****.
Ou grote
Honorary Master
I also bought last year, and no regrets.
Renting is stupid IMO, whether in Europe or elsewhere.
Someone has to own all that property that is rented out in Europe.
Thought my neighbours were bad...
Quite right, it is your choice. But then don't come and pester us with complaints when the going gets tough and you cannot afford your monthly bond payment anymore.
By the way, you might be interested in looking at the following website:
http://capetownbubble.blogspot.com/
I didn't run overseas because I couldn't take the heat in SA. I went as a career opportunity and to save a large sum in Euros so that I can re-inject my investments in SA with fresh money. Wads of cash, smelling delicious. You probably miss that smell, don't you?
No, buying a house is stupid when you cannot afford it.
Yes. The people that can afford it, purchased and own the properties.Someone has to own all that property that is rented out in Europe.
Ou grote
Honorary Master
So u saying that the people in Europe who rent can't manage their finances?
And we are sick of the constant whining of others when rates go up. Others with the likes of you (doesn't mean you are guilty of this).
To all the others that whine when rates go up: shut your traps and tighten the belts. Budget. Keep to it. And forget about impressing the Jones'!
No, I'm saying the people in Europe CAN manage their finances since they know for themselves to buy a house when they can afford it, and to NOT buy a house when they can NOT afford it.
(same goes for flashy cars... flat screen TVs... and similar luxury items...)
They are not obsessed with impressing the Jones' since they are more intelligent to know there are more important things in life than impressing others.
oh what bollocks you are talking now. a few days ago you made a bit of sense but i think this schaudenfreude of yours is making you a tad loopy.
UK (part of europe) has household debt at the highest levels ever...OF ANY OTHER DEVELOPED COUNTRY IN THE HISTORY OF MANKIND TO DATE,
because of mad house prices, "you have to get on the housing ladder" and an unhealthy obsession with ipods and hdtvs and nike gear.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/28/cndebt128.xml
spain is fscked. absolutely fscked. their healthy housing market from last year has turned into the joke of europe, people buy a house at auction and they get interviewed on tv for being mad.
the only country that has shown some restraint so far has been germany.
Pitbull
Verboten
Seriously. Get a job mate. This "I'm a rich Pommy" crap doesn't cut it no more.
No-one and I mean no-one that has money will be bothered by any of the useless topics you are spamming the NEWS !!!!!!! Section with.
Get a job, earn money then you might not have to worry if house prices are 500k or 5 mill
Seriously. Get a job mate. This "I'm a rich Pommy" crap doesn't cut it no more.
No-one and I mean no-one that has money will be bothered by any of the useless topics you are spamming the NEWS !!!!!!! Section with.
Get a job, earn money then you might not have to worry if house prices are 500k or 5 mill
I'm not a rich Pommy. I'm a rich Kraut since I'm in Germany and coming with a storm back to SA. I have a job and have earned money. But I wait for lower house prices that makes sense, before I buy property in SA.
Pitbull
Verboten
So you can't afford a R 1mill house ?
People earning SA rands and not alot of it stay in R 1 mill houses
