The Benefits of Imaginative Play

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Chiquita Patrizi, spokesperson for Prima Toys, outlines how children benefit from imaginative play and why it is so important for their development and well-being.

  1. Why is imaginative play so important for children?

 

Imaginative play, or free play where playtime is unstructured, is fundamental to early childhood development because children learn through play. Playing, in general, allows children to use their creativity while developing their imagination, their dexterity as well as physical, cognitive, and emotional strengths.

 

 

  1. The Benefits of role playing

Play basically prepares children for life. It teaches them mental and emotional strength and they also gain knowledge of how to behave in certain situations. Children will role play in order to try out situations, see what it feels like to be, for example, “a teacher”, “a mom”, “a baby”, “a baddie”, their favourite superhero and the list goes on.

 

 

  1. Play makes everything possible

Free play allows children to create their own worlds and master those worlds. This is one of the reasons that children enjoy playing with toys. They can use their imaginations and create imaginary worlds where nothing is impossible – their toys can fly, become invisible or turn into something else.

 

  1. Developing new Skills

Through play with other children, kids develop new skills, they become more confident and lean how to be resilient. This interaction also allows children to learn how to work together, solve problems together, share, negotiate and resolve conflicts – all tools that they will need as they grow older.

 

 

  1. Play outdoors

Unfortunately there has been a decline in outdoor play, especially in urban areas. Parents need to make a point of taking their children outdoors, to a nearby park and let them climb trees, play on the jungle gyms and run free in a wide open space. This type of activity will help with muscle development, muscle strength, co-ordination and balance.

 

 

  1. Easy games to get kids playing

Children love adventure games, so give them a scenario and let them play it out. For example: you’re at the top of a volcano, it’s about to erupt and you have to save your baby sister. You are the hero, what do you do? Let them run, jump and climb their way out of the imaginary scenario. Another favourite is “crocodile, crocodile” where kids need to jump over or cross imaginary rivers and avoid falling in and being eaten by crocs. Kids will love to hop, jump and balance their way across these “rivers”.

 

For more information go to www.Facebook.com/PrimaToys

Property Scams

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Our lives have been made considerably easier with technological advances such as the internet. Unfortunately it has also opened up a world of opportunities for con artists. As automation improves, so does the level of property scams, and while every precaution is taken, there will always be yet another way that fraudsters discover to deceive buyers and sellers out of large sums of money.

Fraud and investment scams thrive in all degrees in the real estate market, from developers who expect payment for work not done or a pretend agent who embezzles money. Working with a legitimate estate agent at your side will ensure that you will be protecting yourself against common types of real estate scams. When dealing with an agent, buyers and sellers must check that the agent is registered with the Estate Agency Affairs Board and has a valid Fidelity Fund Certificate. It’s illegal for an agent to practise if they are not in possession of this important document. These certificates are issued on an annual basis and must reflect that the agent is licensed to practise for the current year. Always obtain certainty on the banking details were payments or deposits are being made.

 

We single out the most predominant property scams you may encounter while searching to buy or rent property.

 

Intercepted Emails 

This involves scammers, hacking into the email of people involved in the transactions, such as agents or lawyers, by tricking home buyers into wiring funds to them instead of the appropriate parties. They often will use a generic email address indicating that the funds should be wired to a specific account which will then vanish without a paper trail.

 

Changes made regarding payment details must always be done by the seller in person if possible, or telephonically verifying the email, and not via email alone. Protect yourself by double checking everything, verifying all emailed instructions that deal with the purchase even if they’re from trusted parties, any bank detail changes need to be accompanied by the required verification of the bank accounts in question.

 

Fraudsters posing as a Buyer

They will approach a seller privately and show keen interest in the property and put in an offer. After a few days, the supposed buyer will contact the seller asking for a document to be signed to help them get their home loan approved, which the seller then signs without reading too much of the document only to discover later that a third party claims to have bought the home.

 

It will be found that the scam artist (the first buyer) has been marketing the home online as an agent, by taking the photos off various websites, and has found a buyer who is also unaware that something is wrong – and who might have paid a large deposit over to the supposed agent. Make sure you check every detail when it comes to property sale transactions, documents can be falsified and email addresses cloned.

 

Identity Theft

Criminals have become much more experienced and are using stolen identity details not only to empty bank accounts but to obtain various credit accounts and even home loans. They are able to delay detection of the fraud for long periods while the unpaid bills and instalments mount up. The scammer will use false documents to pose as the property owner, register forged documents transferring a property to their name, and then get a new mortgage against the property. After securing a mortgage or line of credit, the criminal takes the cash and disappears.

 

Bait and Switch Scheme

This occurs when a prospective buyer offers an ‘above market value’ price to a seller. The seller, impressed by the high offer signs the contract, meanwhile the deceitful buyer has no intention to purchase the property. Once the seller signs the contract, the seller may only sell to that buyer for a specified time, when that time ends the fraudster asks to extend the contract a few weeks to work out closing details. Sounding reasonable, the seller agrees to the extension blinded by the high offer.

 

In the meantime the seller keeps paying taxes, maintenance, utilities and insurance the buyer comes back to the seller with an excuse as to why this price no longer works, and requests a reduction to below market value and threatens to cancel if their demand is not met. Stressed by time and on-going costs, the seller agrees to the reduction.

 

Duplicated Listings

‘Agents’ copy legitimate rental listings and advertise for a much cheaper price. Unfortunately, many people fall for these fake listings and wire money to the owners of these fake listings. When searching for a rental, do your research and make sure you are working with a reputable company or agent.

 

Fake Rental Agents

When you find a property you really like, you call the agent to arrange a viewing and they say they will meet you there. Later they call and say they won’t be able to make it anymore, but no need to worry the landlord will be there to show you around. The agent then promises to negotiate a lower price with the landlord. When you arrive at the house you find many other people interested in renting the same place. You call the agent back to negotiate a better price that you’re happy with; they will phone you back shortly to inform you of the new price, all you have to do is transfer the money for the first two months to secure the place. On moving day, you find someone else is moving in and the agent wasn’t an agent; they just found the property online and reposted it with their own contact information. They purposely send several people at a time to view the property to generate a sense of urgency for the potential renters.

 

Avoid becoming a victim

  • Be wary when you are requested to make a payment for something minor like a credit check or security deposit, in most cases, there’s nothing you can do to get your money back because the scammer can’t be tracked.
  • If the price looks too good to be true, it probably is. Prices are considerably higher than they were a few years ago.
  • The email sounds strange – some listings hide the email address when you send a message, so you might not be able to see the address if you respond to the listing. Scammers usually use free email servers and they’ll often go by a series of random letters to make them less easily traceable.
  • The Agent won’t show you the property – If you ask to see the property and they claim it’s impossible, it’s probably a fake listing. Agent will make time for people who are interested in the property.
  • The seller pushes you – the faster a scammer gets you to agree to a business deal, the faster they can steal your money and avoid getting caught. The seller will often use high-pressure tactics that attempt to push you into acting quickly in order to purchase the home. Don’t be prodded by any seller to send money.
  • The seller asks you to wire money – when you see the term “wire money” or similar variation of that phrase come up in a business conversation with someone you’ve never met, red flags should go up. Many scams entail wiring of funds because it’s more difficult to trace and enables the scammer to collect the money sooner. Scammers will come up with a variety of plausible reasons why the money should be wired rather than sent through a bank or lawyer.
  • The buyer or seller is foreign and wants to buy a home unseen – most people want to at least see a property and become familiar with the area before making a large investment. This doesn’t mean you should be wary of all foreign inquiries, but many scams often occur overseas because it’s harder to trace the person behind the fraud. Foreign buyers who don’t ask questions, act in haste, and don’t care to see the property indicate a high likelihood of fraud.
  • Be well informed about market related prices within the area you are looking to rent or buy. If a property is advertised way below the market related price for that area it should raise your concerns.
  • If you found a “bargain” online you should call the estate agency to find out if the deal is for real. Don’t call the number at the bottom of the ad because this number could lead to a fake office. Rather find the actual office number, call there and ask the receptionist to give you the number of the specific agent or branch you are looking for.
  • Be wary of agents and landlord who seem too eager or pushy to get you to live in their property or one they are marketing. A legit agent or landlord will always conduct the necessary checks and will not be too disappointed when you don’t show much interest in the property.
  • If the agent is constantly making up excuses as to why they are not able to meet you or show you the property, you should also be worried. The chances are good that they don’t have access to the property and are stalling for time until they can think of a clever way to get you to pay the deposit.
  • Never pay a deposit before you have viewed a property.

When dealing with an agent, buyers and sellers must check that the agent is registered with the Estate Agency Affairs Board and has a valid Fidelity Fund Certificate. It’s illegal for an agent to practise if they are not in possession of this important document. These certificates are issued on an annual basis and must reflect that the agent is licensed to practise for the current year. Always obtain certainty on the banking details were payments or deposits are being made.

Live, work and play lifestyle in Joburg South

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The southern suburbs of Johannesburg have undergone significant growth over the past two decades with retail and residential development, and older suburbs experiencing a resurgence.

 

Johannesburg South is rich in history and culture and is surrounded by the natural beauty of hills and wildlife reserves. The scenic landscape is part of what makes the area so attractive, together with its proximity to Sandton and Soweto. “The South” as it is commonly known, is divided into two main parts – the older part on the north side of the N12, and the newer part on the south of the highway. Johannesburg’s southern suburbs offer a variety of property from freehold houses to sectional title apartments and townhouses. The area boasts the recently developed Meyersdal Eco Estate and Eye of Africa Golf Estate as well as residential developments aimed at the R1.5 million and below price range.

 

The neighbourhood has an array of malls, schools and social amenities. Furthermore, a variety of recreational activities such as cycling, golf, bird-watching and hiking are within easy reach. So too is Gold Reef City and the Johannesburg CBD, which has become a hotspot for dining out and entertainment. “Recent years have brought extensive property development to Johannesburg’s southern suburbs due to property buyers ‘rediscovering’ the neighbourhood. The area offers affordability and value for money and continues to attract young executives and families,” says Craig Hutchison, CEO of Engel & Völkers Southern Africa.

 

Focus on Oakdene

Lying in the South of Johannesburg, Oakdene is nestled amongst the neighbouring suburbs of Linmeyer, Rosettenville, Glenanda and Bassonia. The area is picturesque with hills and nature reserves making up part of the unique landscape. Oakdene is close to the Johannesburg CBD, an area which has been reinvigorated and is now a popular dining and entertainment hotspot, with hip restaurants, cinemas, rooftop markets and more on offer.

 

The leafy, well-established suburb is a mere five kilometers from Gold Reef City and a 20 minutes’ commute to OR Tambo International Airport. Part of the City of Johannesburg Metropolitan Municipality, Oakdene is a reasonably valued, family oriented, middle-class suburb ideal for new or growing families and those in corporate positions. The market in Oakdene has definitely seen a shift in the past few years. Entry level apartments start from around R720 000 and can go upto R1,5 for more luxurious options. Whilst your freestanding properties average around R1,6 to R2 million with the top end standing at over R5 million.

 

Ideal for Young Couples and Singles

Selling and buying trends show that the 18 to 35-year-old age group as well as the 36 to 49 age group are the predominant buyers and owners of residential property in Oakdene, giving the area a very particular, youth-orientated and vibrant culture. Craig explains that residents of the area have been drawn to it because of various factors that include the practical proximity to important amenities and activities, as well as affordability and developmental opportunities in the area. “People are also attracted by more abstract, but no less tangible, factors such as vibe, scenery and ambience. These elements are equally important to a sound investment, as they offer a lifestyle opportunity to mix and mingle with like-minded individuals,” Hutchison adds.

 

Stanley Park Estate

Engel & Völkers is selling Stanley Park Estate, which is situated in Oakdene. The estate is positioned in a prime location with easy access to major highways and roads, namely the N12 and consequently the M1 as well as Sandton and Rivonia via the N1 Southern Bypass. Stanley Park attracts young couples as well single people entering the middle-class sectional title market and the rental market, as the estate offers excellent long-term investment prospects. The Estate includes 24-hour security, gas hobs which are extremely cost-effective and energy-saving, a clubhouse, swimming pool, braai facilities, and communal gym for the fitness fanatics and easy access to public transport. With regard to architecture, Stanley Park offers ultra-modern, stylish and first class living with breath-taking views. One, two and three bedroom apartments are on offer and each unit is equipped with a gas hobs and electrical oven, the kitchen has been especially designed to allow space for three appliances and prepaid electricity and water units have been installed. Each unit also includes DStv points, is internet fiber ready and has covered parking and ample visitor’s parking for guests.

 

Affordability and lock up and go Lifestyle

With affordability considerations making sectional title properties the preferred entry point for first-time buyers and investors, demand for such properties is set to remain brisk for the imminent future. Sectional title properties offer sound capital growth and in line with this, price growth in this housing segment is still outstripping growth in freehold prices. “The demand for convenient, hassle-free sectional title units accessible to the workplace and all amenities continues and Stanley Park Estate in Oakdene fits squarely within this rising trend. It offers modern design, convenience and access to a plethora of entertainment options all ideally suited to a hip, contemporary, lock up and go lifestyle,” Hutchison concludes.

Budget for a new home

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Many people grow up having conflicting values around money and wealth and misunderstanding how they work together. Often a person may say they want to be wealthy, but what they really want is financial freedom. It is of crucial importance to manage your money effectively, master it, and instruct it to do what you want it to do for you. You’ll start seeing how your money can work for you when your future needs become more important than your current wants.

Money is what makes the world go round. Just like you have a job, your money has a job too, and it should work just as hard for you, as you have worked to earn it. Whether you’re a stay at home parent taking care of your home and family or a professional working crazy hours, having money in the bank is essential.

All is possible through either investing or saving part of your hard earned cash every month. There is a clear difference between investing and saving. Saving is storing your money, while investing is growing your money. One of the significant differences between the wealthy and not so wealthy is that wealthy individuals earn interest while everyone else pays interest.

“The way that the prosperous continue to build their wealth isn’t really a secret; they spend less than they earn, save the difference, and let the potential of compound interest make their riches grow. Financial wellbeing is a long-term commitment, but with the right guidance, discipline and savvy decision-making, you may achieve your goal sooner than you think. It is never too late to start investing in your financial well-being.” states Craig Hutchison, CEO Engel & Völkers Southern Africa.

Here are some pointers on getting your money to start working for you:

 

Get Out of Debt

Your money doesn’t really belong to you until you’ve paid off your debt. This includes all debt, even if it is good debt. Your extra cash is better spent towards growing your net worth before anything else.

It may seem like a problem that is too big to tackle. The trick is to start by just clearing up your smaller debts and then work towards tackling the larger debt with the extra money that you have available.

Take a moment and just do a quick calculation on the interest you pay monthly just on interest – imagine having those additional funds each month. As you pay off more debt, and then apply that money to the next debt, you begin to build momentum and you will be surprised how quickly you be debt-free.

 

Have a budget

Your budget is the best tool you have to give you control over your finances, this will allow you to make financial decisions at the beginning of the each month by telling your money where to go instead of later wondering where it went. Always pay yourself first – make sure putting a little away for the future is your number one objective.

Once you have mastered budgeting, you will be able to reach your financial goals more quickly and avoid debt. Now that you have a flowing stream of savings coming your way, you are ready to put it to work. The next step would be to choose a vehicle for growth that suits your lifestyle and your long- and short-term goals. Consulting a financial planner can help you find the right fit.

 

Grow your wealth

You don’t have to be extremely wealthy to take advantage of investing over time, you might not be able to stop working and just live off your dividends any time soon, but the rewards will pay off in the future. It is important to remember to diversify your portfolio; you should never want to have all of your money invested in a single spot, venture or business.

“Be careful who you trust with your money, make sure you invest your money with a reliable and established company with a solid history and reputation, do your research and do not be afraid to ask questions” Craig advised.

Terminology: Important Parties in a Property Transaction

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Real Estate Agent:

A real estate agent, also referred to as a property specialist, is a licensed professional who acts as an intermediary between sellers and buyers of real estate / property and attempts to match the parties up in order to conclude a sale.

 

“Deed” :

Refers to every deed or document which the registrar of deeds is obliged to execute or register in terms of section 3 of the Act, and includes any document submitted in support of or which is required to accompany a deed or document referred to in section 3.

 

Transferring Attorney:

A transferring attorney, also referred to as the conveyancer, is appointed by the seller. They effect the transfer of immovable properties from sellers to buyers. The agent may advise the seller on a transferring attorney , but the prerogative remains with the seller to nominate the conveyancer.

 

Registering (or Bond) Attorney:

The Bond attorney (conveyancer ) gets appointed by the bank who grants the loan to the purchaser. They will advise the transferring attorney of the amount available for guarantees and requests . Once all documentation is in place, the conveyancer will register the bond against the land serving as security under the bond.

 

Cancellation Attorneys:

The conveyancer appointed by the Bank represent the bank by cancelling the seller’s bonds and secures any amounts still owing in the form of guarantees or undertakings.

Making optimal use of your living space

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The high demand for accommodation in South Africa and especially in security estates, means high density housing solutions like apartment blocks or townhouse complexes have become increasingly popular.

 

“City living gives you the unmatched convenience of living close to work,” says Wendy Williams, Sales Director of Engel & Völkers South Africa. “And although the living spaces may be small, there are ways to make them appear and feel larger and more comfortable.”

 

The first rule of small spaces is to avoid clutter. One of the best ways to achieve this is not to introduce potential clutter in the first place. If this can’t be helped, however, make sure you have more than enough storage space and make sure you can move around easily.

 

TRAFFIC FLOW

Analyse the traffic flow in your apartment. A space will seem annoyingly small if you and your guests have to climb over furniture. Place furniture carefully to allow free access.

 

FURNITURE

To create a visual perception of space, consider armless chairs and couches – they can adapt to different positions more easily than those with arms and they seem to take up less space while allowing the eye to cross the room. It’s also worth investing in a really well-built couch that is covered with good fabric, as this will last for years to come.

 

 

BUILD IN CUPBOARDS AND TAKE OUT DOORS!

Built-in cupboards offer much needed storage space. Install cupboards that reach to the ceiling to maximise space and avoid the dust traps found on the top. If a door gets in your way – consider taking it out. You can replace it with a sliding door or make the door space bigger, creating the illusion of one big space rather than two small ones.

 

CURTAINS

While you’re considering taking your built-in cupboards to the ceiling, look at dropping your curtains from ceiling height rather than from just above the window. The added height will draw the eye upwards and will allow your fabric to drape perfectly.

 

CEILINGS

While you’re looking at the ceiling, it’s worth investing in beautiful cornicing – the height of the detail will again draw the eye upwards, enhancing a spacious feel.

 

MIRRORS

Perhaps one of the best ways of expanding a space visually is by introducing light. Mirrors, glass and reflective ornaments (like silver and crystal) expand light, making an area appear more roomy.

 

PAINT COLOURS

Also consider your paint colours carefully, as lighter colours reflect light, while darker colours – perfect for accents – make a room seem small. Let as much sunshine in as possible – natural light will do you more favours than you realise!

 

However big your space – it’s your home, and should bear your signature. Whatever the design experts say, there are always rules that are meant to be           broken, so if your instinct wants to go against any of these tips – give it a try anyway. In the instances where the space you need can not be created, and you are considering a change of home, visit www.engelvoelkers.com/south-africa to locate your local Engel & Völkers shop for a free market valuation on your current property or view an extensive portfolio of properties available.

Investment Options Explored

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Retirement fund

The key to retirement is to start investing as soon as you can. Your retirement savings are dependent as much on your ability to be patient and to leave your nest egg alone, as it is on the contributions you make every month. Make sure you have a good financial planner to help you invest your money.

Pros:

  1. Income tax benefits
  2. Possible employer matching your monthly contribution
  3. Loans in the event of an emergency or financial crisis

Cons:

  1. Most plans have limited flexibility as it relates to quality investment options
  2. Fees can be high
  3. There can be early withdrawal penalties

 

Unit Trusts

A unit trust pools money from many investors, to invest in assets namely shares, bonds or property. Instead of having to select individual investments yourself in hard to reach markets, a unit trust offers you exposure to a range of assets, which are selected and managed by investment professionals. Unit Trust is a smart way to save and beat inflation. As the cost of living increases, you need your money to increase with inflation, investing in a unit trust allows your money to do just that.

Pros:

  1. Funds are managed by experts
  2. Stockbroker fees may be negotiated at a lower rate
  3. Easy diversification – investing in a variety of securities

Cons:

  1. There are costs over and above those you’d pay if you were investing directly
  2. Unit trusts may not be as liquid as some other investments
  3. Reliance on managers to select the best appropriate funds

 

Stock Market

The first step is to gain a good understanding of what the Johannesburg Stock Exchange (JSE) is all about. Speak to a stockbroker about your investment goals. The JSE has a variety of products which can help you reach your desired goals. One of these is a tax-free savings account (TFSA). A TFSA is an account that provides tax benefits for investing, and the JSE TFSA provides investors with a way to invest in Exchange Traded Funds (ETFs). ETFs are ideal for first-time investors exploring the stock market.

Pros:

  1. Highest returns
  2. Income from dividends
  3. Stocks are highly liquid

Cons:

  1. Volatile in the short term
  2. If you pick the wrong stock, you risk losing the value of your investment
  3. It takes knowledge and time to analyse a stock

 

Stokvel

This is a book-based savings account made up of a group of individuals with similar goals, which allow them to save for a common purpose. Members contribute fixed sums of money to a central fund on a weekly, fortnightly or monthly basis with a better return on savings and interest rates. The group then decides on how that money is shared, whether it is a monthly pay-out, or invested and then shared at the end of the year. Originally these were informal savings agreements, but it has evolved and banks are now offering savings products specifically designed for Stokvels.

Pros:

  1. Can be set up informally as they are not legal entities
  2. The costs of running a stokvel are quite low
  3. Individuals who are part of a stokvel can perform its activities outside of interference from the government

Cons:

  1. Enterprises obtain a lack of cost advantages due to the size of operation
  2. The prospect for growth is limited
  3. High Risk – The scheme is based on trust

 

Shares

A share is one of the equal parts into which a company’s capital is divided, entitling the holder to a proportion of the profits, if any are declared, in the form of dividends. You don’t need thousands of Rands to start investing in shares. Imagine you want to invest in a company worth a R100 000, but you don’t have R100 000 to buy it, or the owners don’t want to sell all of the company. Buying shares is exactly what it says, you buy a share of the company.

Pros:

  1. Potential capital gains from owning an asset that can grow in value over time
  2. Potential income from dividends on share holdings
  3. Lower tax rates on long-term capital gains

Cons:

  1. Share prices for a company can fall dramatically
  2. If the company goes broke, you are the last in line to be paid, so you may not get your money back
  3. The value of your shares will go up and down from month to month and the dividend may vary

 

Kruger Rands or Gold

Another option to diversify your portfolio is to invest in something even more solid such as  Kruger Rands. These gold coins tend to perform well in highly uncertain circumstances, and can provide protection against extreme market turmoil.

 

Bitcoin

Bitcoin is an online payment system. This system is peer-to-peer, and users can transact directly with each other all over the world almost instantly, without needing an intermediary such as a bank, Western Union, Moneygram, Paypal or any other company. The Bitcoin system works without a central repository or single administrator, so is the world’s first decentralized digital currency, and it is the largest of its kind in terms of total market value.

Bitcoin cash was created to give people a way to send and receive real money anytime, anywhere, without the intervention of banks and governments. Bitcoin cash has value because the holders of the Bitcoin core collectively agree that it has value. Such mutual agreement between thousands of buyers and sellers around the world enable Bitcoin cash to be used as medium of exchange in online transactions.

Pros:

  1. Not tied to any traditional financial institution or government
  2. Traders can remain anonymous
  3. Access to historically inaccessible markets

Cons:

  1. Inherently volatile
  2. Subject to fluctuations in value that can be more sudden than government-backed currency
  3. Not backed by legal protections

 

Property:

Investing in property is often seen as the safer and less volatile choice as it requires a long-term approach. Although with any investment, you do run a risk such as a market or area dip or interest rate hike, this remains one of the best investment options as people will always need to have a home and no matter how big the dip – you won’t lose everything completely – the home is still there and it’s yours.

There are various options to consider, namely buying a single home to live in as your investment, or investing beyond your home, in land to sell, commercial property or homes to rent out. Real estate is a favourable investment option because it does not only give you long term growth, but it can be paid up completely and become your sole property whilst still generating an ongoing income if you choose to rent it out.

“Having personally invested in a number of the above options, I can with confidence say that property has been a solid investment. You only need to think about what you paid for your first home if you have been in the property market over an extended period of time or alternatively ask your parents what they paid for their first home. I always say that you should get your home valued at least every 5 years so that you know what your investment is doing for you. Property truly gives you the best of all worlds as you get to enjoy it while living there, enjoy rental income if you choose to let, the satisfaction knowing it’s yours, and only yours once paid off, and of course the reward of knowing you have something to leave behind for your children someday” Craig added.

Pros:

  1. You could earn monthly rental income if the property is rented out
  2. If your property increases in value, you will benefit from a capital gain when you sell
  3. Property is less volatile than shares or other investments

Cons:

  1. There may be times when you have to cover the costs yourself if you do not have a tenant or for repairs
  2. A rise in interest rates will mean higher repayments and lower disposable income

 

It is crucial to realise that money is a tool that can help you achieve your ultimate goals in order for you to reach true financial independence.