INVESTMENT

Andrew Carnegie (1835-1919), entrepreneur, business leader and a man often described as one of the wealthiest people of all time is quoted as saying: “90% of all millionaires become so through owning real estate”.

And Shaun

Rademeyer, chief executive of Multinet Home Loans, says not much has changed.

“Property investment is still considered to be one of the biggest investment opportunities of all time. Buying a property can leave a dent in the bank account, but do not see it as a grudge purchase, instead see it as an investment.”

Breaking this down, he explains that, if you buy a house worth R1.2 million:

In 10 years, your property will be worth R1.8m – this is an inflation growth of 4.5%.

In 15 years, your property will be worth R2.3m.

At the end of your 20-year loan period, your property will be worth R2.76m.