@ all,

wonderful talk on sk,

i practice what limuru boy said and would advice same.


the higher the risk,the higher the returns.

@Tebes,

To answer you on the plot issue. The easiest and legally binding way (on part of he Government) of confirming the ownership of a property is by way of official search. Another way you can cover yourself is to use a lawyer and ensure that you only pay 10%
of the property and await the seller to get you all the completion docs (Original Title,consent to transfer and their personal docs). You can prepare their final payment and let it be held by a lawyer to be released only after you have transferred the interest of the property in your name( i.e. title in your name). That way,you cover yourself against any serious losses,other than the 10%).

..wise as a serpent,humble as a dove

was not sure which of the many property and financial education threads to post this anyhow

=>Nobel Prize winner Robert Shiller's Devastating Takedown Of Housing As An Investment Will Have You Renting For The Rest Of Your Life

Excerpts:
Trish Regan: "Then why buy a home? People trap their savings in a home. They're running an opportunity cost of not having that money liquid to earn a better return in the market. Why do it?"

Robert Shiller: "Absolutely! Housing traditionally is not viewed as a great investment. It takes maintenance, it depreciates, it goes out of style. All of those are problems. And there's technical progress in housing. So, new ones are better...

"So, why was it considered an investment? That was a fad. That was an idea that took hold in the early 2000's. And I don't expect it to come back. Not with the same force. So people might just decide, "Yeah, I'll diversify my portfolio. I'll live in a rental." That is a very sensible thing for many people to do.

"If you think investing in housing is such a great idea, why not invest in cars? Buy a car, mothball it, and sell it in 20 years. Obviously not a good idea because people won't want our cars. It's the same with our houses. So, they're not really an investment vehicle."

=>The Economist Who Just Won a Nobel Prize Thinks Owning a Home Is a Terrible Investment

Discuss 50marks

I know this was posted 3 years back but it's great advice!

@siringi, thanks for the link. I have downloaded the book "irrational Exuberance" and delving into the meat of it now.

His Co-winner, negates his argument, then the other winner created a mathematical solution that proved them right. You have to understand economists never get answers to the questions they raise because the bottom line is the dynamics are always different.

Very very interesting discussion. Would love to know how @Kave is doing, 4-5yrs down the line.

Buying/ owning a house is the most decent investment one can make in their early to mid life. The advantages far outweigh renting if you have the long term horizon of 30 to 40 yrs in mind.

Renting in early life is okay, what I hate about renting is that I am limited to what I can invest into the house eg I would like to do solar and water harvesting but it's not possible, I would like to do kitchen gardening but not possible, I would like to do some messy wood and metal DIY projects but I can't, I would like to clean my car they way I like but I can't, but no worries most of my clients building their dream houses are in their late 40s and 50s , very few of my age mates or those between 25-30 have built their houses, they might have plots but the house is off until kids grow up or family stabilizes.