Money Heroes
For this episode, we take a deep dive into home insurance and property ownership.
Finding the perfect home is often considered one of the biggest investments most people have in their lifetime. Have a look at our tips from industry experts on how you can explore the property market primed and ready to a make well-informed and educated decision.
Shiree Darley, an interior architect-designer who specialises in lifestyle design, shares her advice on how smart planning can help you build an ideal home that will reap long-term rewards. While Darren Francis, the winner of the SAPIN Investor for Change Award, gives his key tips on making informed decisions and investing wisely.
First up, Momentum's Stanley Gabriel takes us through his seven key tips to keep in mind when buying a home.
7 considerations of home investment
"For many people, a home is usually their biggest asset that they will own in their lifetime," explains Stanley Gabriel, CEO of Momentum Investo. For this reason, he strongly advises never to buy a home you can't afford.
Choosing and investing in the right home is very personal, so Gabriel implores buyers to seek the right financial advice beforehand. Thankfully, Momentum has a list of reputable financial advisers on their website that you can browse through to find an adviser who'll empower you on your journey to finding your perfect home.
Gabriel also shares seven key things to consider when buying your first home:
1. Choose an affordable mortgage
2. Know the value of your property and how it'll shift over time
3. The location you wish to call home
4. Ensure you get value for your investment
5. Shop around for the best interest rates
6. Put a sizeable down payment
7. Invest smartly in insurance
Watch the full video to hear more of Gabriel's advice on how to go about buying your new home.
7 considerations of home investment
"For many people, a home is usually their biggest asset that they will own in their lifetime," explains Stanley Gabriel, CEO of Momentum Investo. For this reason, he strongly advises never to buy a home you can't afford.
Choosing and investing in the right home is very personal, so Gabriel implores buyers to seek the right financial advice beforehand. Thankfully, Momentum has a list of reputable financial advisers on their website that you can browse through to find an adviser who'll empower you on your journey to finding your perfect home.
Gabriel also shares seven key things to consider when buying your first home:
1. Choose an affordable mortgage
2. Know the value of your property and how it'll shift over time
3. The location you wish to call home
4. Ensure you get value for your investment
5. Shop around for the best interest rates
6. Put a sizeable down payment
7. Invest smartly in insurance
Watch the full video to hear more of Gabriel's advice on how to go about buying your new home.
The “orange lights” of buying a home
CEO of Galileo Capital, Theo Vorster, shares his expert tips on the risks home buyers should be wary of when exploring the property market.
"Buying a house is a challenge," Vorster explains. "Everybody who wants to own property wants to own fixed property," he adds.
To help you secure your investment, Vorster shares four risks or, as he dubs them, "orange lights" to keep in mind:
The length of time you plan to live in the property
If you don't consider the costs of transactions and only plan to stay a short-term or less than five years in the house, you run the risk of losing money as houses are long-term investments.
Houses aren’t a small purchase
Because of this, it's essential to take care of your investment and secure insurance that keeps your home protected from risks so you may sell it later with peace of mind.
Fluctuating interest rates
Know how the interest rates on your bond can fluctuate and be mindful to manage those changes within your budget and what you can afford over time.
The area of your house
Buying smaller in an area where the value will appreciate may be smarter for your investment value over time than buying a bigger place in an area where the value will depreciate.
Watch the video to hear Vorster's full advice on how to invest smartly and why these "orange lights" should be top of mind when buying a home.
The “orange lights” of buying a home
CEO of Galileo Capital, Theo Vorster, shares his expert tips on the risks home buyers should be wary of when exploring the property market.
"Buying a house is a challenge," Vorster explains. "Everybody who wants to own property wants to own fixed property," he adds.
To help you secure your investment, Vorster shares four risks or, as he dubs them, "orange lights" to keep in mind:
The length of time you plan to live in the property
If you don't consider the costs of transactions and only plan to stay a short-term or less than five years in the house, you run the risk of losing money as houses are long-term investments.
Houses aren’t a small purchase
Because of this, it's essential to take care of your investment and secure insurance that keeps your home protected from risks so you may sell it later with peace of mind.
Fluctuating interest rates
Know how the interest rates on your bond can fluctuate and be mindful to manage those changes within your budget and what you can afford over time.
The area of your house
Buying smaller in an area where the value will appreciate may be smarter for your investment value over time than buying a bigger place in an area where the value will depreciate.
Watch the video to hear Vorster's full advice on how to invest smartly and why these "orange lights" should be top of mind when buying a home.
Success Stories: Shiree Darley
When looking to buy a house, who better to receive insight from than an architect?
Shiree Darley, an interior architect-designer who specialises in lifestyle design, shares her advice on what to consider when browsing the home market.
"If you're a new homeowner, I think location is key," Darley explains.
She adds that location doesn't just matter when choosing where you'd like to stay for now, but it also plays a role when considering the proximity to your place and work and where you send your kids to school, etc.
Darley also suggests not judging the home by its appearance. If you invest in a cheaper home and buy in a good area, you can take creative control in dressing your perfect home to your style. Careful planning and renovations can, over time, add to your home's resell value.
Watch the video to hear more from Darley on how you can create and invest in your nest with smart budgeting and interior design tweaks.
Success Stories: Darren Francis
It's essential to make educated and well-informed decisions when it comes to choosing a home to invest in.
Darren Francis, the winner of the SAPIN Investor for Change Award, is an avid property investor who flips houses and helps to create jobs for people in his community through his projects. He shares his advice on why it's essential to be educated on the property market when purchasing a house.
Francis also goes on to share the three Ds he bases his investor life on.
Watch the full video to hear more about Francis's journey to investing success and how these three Ds can help you achieve greatness in your house hunt.
Financial success is as unique as a fingerprint. That’s the beauty of defining your own aspirations and ambitions. Getting to where you dream of takes grit, determination and most importantly, honesty.
With two tough years of living through the pandemic and an increasing cost of living, it will take great introspection to be honest about where we find ourselves and seek help when we need it, especially from an expert.
The right advice can propel you forward. Our financial advisers have a vested interest in you: what do you value? What are your goals? This deep discovery sets the foundation for a relationship that will bear fruits of success.
Ready to begin your journey?
Financial success is as unique as a fingerprint. That’s the beauty of defining your own aspirations and ambitions. With two tough years of living through the pandemic and an increasing cost of living, it will take great introspection to be honest about where we find ourselves and seek help when we need it, especially from an expert.
The right advice can propel you forward.
Ready to begin your journey?
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