- Feb 23, 2016
Yup. Looking at our area, prices down about 500k from our purchase price 4 years ago, and we have done about R400k of improvements (basically fixing some bad workmanship by previous owners). Not happy, as we want to ditch this country because of the EFFing cANCer.First off, you are never guaranteed that you will ever get your money back on any renovations you do at your home. You may end up hundreds of thousands of Rands in the gutter.
Secondly, with a government gunning for EWC, and taking away property ownership rights, your current property may not be worth the value of the paper the deed is printed on.
Until we get clarification on EWC and the future of the ANC in government, properties remain a bad investment in SA.
Ah that's another bar I've lost.
Edit:- I will have to remove most of the cool WiFi / home automation bits if I sell or rent this place. Fok!