Buying property is a significant financial decision that requires careful consideration of various costs, including transfer duties, bond registration, and ongoing maintenance. Its essential to ensure that the property fits your long-term needs and financial situation, viewing it as a lifestyle asset rather than just an investment.
Deciding whether to rent or buy property depends on your financial situation and future needs. Owning property offers stability and potential financial benefits, while renting provides flexibility and fewer responsibilities.
Investing in property can diversify your portfolio, either through direct ownership of rental properties or indirectly by investing in property companies. While rental properties offer tangible assets and potential income, they come with risks like tenant issues and liquidity constraints, whereas property shares provide diversification without the administrative burden.