The average middle-class South African just doesn’t get it – at least not the one’s I know.
I have a work colleague, from a previous life, who reinforces this view.
A Facebook post I wrote: “Providing your own manual labour on a renovation sure saves you money but it’s a two edged sword. You end up with a greater emotional attachment which makes it that much harder to turn the place over to unknown tenants.”
Solicited the following reply: “What I have learnt is only fix the things that will get u decent tenants and keep the property value. It is always tempting to fix it like u would want it if u were living there but thats the difference between an investment and a home”
Firstly that’s missing the point. I didn’t say we poured ourselves into the building to make it a home. The labour I’m referring to has been purely painting, fixing holes, repairing what we can of what is falling off. None of it has been “to make it our home”.
Secondly, a house is not the most effective investment. There are better ways to make money. But as I’ve said before many times, you need to find some method of growing your money that works for you personally.
And thirdly, no matter what the world may think, we haven’t done to badly for ourselves doing things our way. I don’t see any of the “upwardly mobile” money grabbing MBA types and ‘business affectionados” living the way we want to live. And we literally are in a position to zero the debt and have a very nice lump sum to invest today if we so wish. I don’t see them being in a position to do that with their expensive new cars, nice comfortable and expensive houses in the most popular areas.
So, thanks for the advice but you’ll excuse us for doing things our way – like we always have and like we always will.