Property the Gateway to a Better Life

Property has been, and remains the best way for the average South African to accumulate wealth - a fact recently supported by Mmusi Maimane, the DA's candidate for Premier of Gauteng.

Writing for the Daily Maverick Maimane explained that his parents owned the title deed to their home in Dobsonville; enabling them to borrow against it, as well as investing in their home. He wrote that "without it, I would not have been able to take the opportunities that came my way later in life" and goes on to say "...I thank that title deed, because it was the genesis of the success I have been able to achieve..."

"As someone who has been both a buyer and a seller in the property market, as well as having been a real estate agent for years, I can completely support Mr Maimane's claim", says Bruce Swain, MD of Leapfrog Property Group, "I've seen it time and again; entering the property market gives people a valuable asset to work with and is an invaluable means to increasing their wealth".

Making the most of property

Purchasing a property is about a lot more than having a place to live or as a stepping stone to a bigger, more expensive home - those who own property are able to borrow against it, sell it at a profit or to rent it out for extra income. When managed wisely these properties can aid in giving a child an education, as was the case with Mmusi, or serve as a retired person's pension (providing monthly income in the form of rental payments).

It takes a title deed

Whether the home is a grand four-bedroom in Clifton or an RDP house in Soweto - the most important aspect is the ownership of a title deed; without it none of the property's financial benefits can be accessed. According to a report issued by Urban Land Mark (ULM) in 2011, it was estimated that between 1.1. and 1.4 million subsidy beneficiaries did not have title deeds to their properties.  The delay has been blamed on a number of factors ranging from Revisions to the project payment process in the development of subsidy houses to the appropriateness of the deeds registration system - all of which the report discusses in some depth.

"Regardless of the issues being faced in terms of getting title deeds into the hands of property owners the bottom line needs to be that this gets done - as quickly and efficiently as possible," says Swain. "We're living in a country with a severe economic imbalance between rich and poor and providing homeowners with their title deeds can do much to empower them".

Swain goes on to encourage the Department of Human Settlements to do everything in its power to assist the process. "The sooner home owners can legally borrow against, rent out or sell their properties the sooner they can work to uplift themselves. It is imperative that this issue gets the attention it deserves", says Swain   

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us