This is the first of a few a articles to be published on property investments
My quest for buying a property started in 2016, the first year I re-located to the coast.I had no car, no debt at that stage and my only fixed costs were really just rent and recurring black tax. I had just begun reading a few books on financial literacy so I nkew a thing or two about property.
I decided to buy a property just for the sake of it. The path was kind of there already, you start work, you buy a car and a property and live your happily ever after like that.
Around that time, the youth in Namibia were also advocating for land ownership and how an average Namibian is tired to pay rent, so I had even more reason to search. I want a property to my name and get out of renting slavery.
At that stage, I had not given much thought to it. What sort of property I was looking for? The location I wanted to live in? The size of the property? Whether I wanted to buy it to live in it or to rent it out. What mattered at that stage was just how much I qualified for and a place in Walvis Bay, the town I am currently living.
As unstructured as it may sound, that is where I started. There are obviously other reasons to buy property such as, the property prices being low and that being the right time to enter the market. It could also be an good investment that will generate rental income for you in future. In addition, you might be getting married and want a family home to raise your kids in. Maybe a good housing scheme at work that might make it affordable to buy?
Why are you looking to buy a property? Give it some thoughts.