Don’t miss…

AS A renter, I have managed to live in two of the most expensive parts of Cape Town – Camps Bay and Clifton – relatively cheaply. I ended up living in Camps Bay, falling asleep to the sound of the ocean and being able to walk to the beach, paying less than I would have for a similar space anywhere else in the city centre.

My friends, who owned a mansion close by, were envious of my carefree existence as a renter – no levies, rates and taxes; no maintenance; no hassle of tenants – and I had the same view as them.

The big difference is, I leave with the suitcase with which I arrived, and they leave with over R30 million in their pocket after an initial R5m investment (plus numerous renovations) all those years ago.

Some may argue I got to stay in the most wonderful spot, and that was worth more than millions and, of course, I could never have afforded to buy there. Others say you need to have money to grow money. Which brings me to the focus of this week’s feature – alternative ways to get on to the property ladder, Not every property you buy has to be one in which you live and the buy-to-let market is thriving. It seems owning property is a no-brainer way to grow wealth.

Warm regards

Vivian Warby

vivian.warby@inl.co.za