I am a pensioner and have been since I was 35! Sure I dont have access to huge salaries, but I do not need to stress at the business world! Life with a sea view is way more relaxed than life with cars belching toxic fumes at you!
I was paid out a distribution from my ICL Pension Fund, and since this was completely unexpected, I put it in property instead of leaving it in the bank! Now I get rental income every month, and enjoy the fact that in the 6 months that I have owned my studio apartment, I do not have to worry about tennants - or the fact that the R 330 000 that I put up to buy it, has increased to at least R 400 000. There is NO WAY that the cash value would have escalated like that in a Pension Fund for MY benefit!
No matter what happens to the economy, I will still have a pile of habitable bricks and morter! The other benefit is that the developer has rented back from the owners, all 20 units that were built, and is letting them as occasional accommodation. A lot of the big businesses around rent them during the week, for their business associates visiting can stay there. It is better than a hotel room as the big businesses feed their clients. They use the swimming pool in summer. Once built the new phase will include a braai (barbeque) area that can be used for serious entertaining. I take my hat off to the developer for the initiative she showed in developing the 20 existing units, and they are building a further 30 units, that they want to sell, then rent back!
I have effectively rented my unit back to a person who developed it, so will take more care than your average tennant! As I said, why worry - be happy!
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