With the current economical situation, who can not afford to buy a repossessed property on auction? Property is a good investment, yes, but an even greater investment when you can save thousands on repossessed properties.
1. Property prices will keep on rising. This means that if you invest in property while the prices are favourable, you will get a good turnover at the end of the day.
2. Interest rates are at its lowest since 1974. When the interest rate is low, your repayment on your mortgage will be less than in a high-interest rate environment.
3. Rental yield. Most tenants will move from renting to buying eventually. This will cause property value to incline due to the higher demand.
Also keep in mind that repossessed properties bought on auction are sold for less than their market value. This already will save you thousands of Rands. Even when you decide to rather use the repossessed property yourself after buying it on auction, it will still be an investment. Repossessed properties on auction can be viewed at www.myroof.co.za.
Can you think of a reason to NOT invest your money in a low-risk investment?