South African Coastal Properties – Buying Power Of The Extended Family

South African coastal properties are still in bargain territory if compared to similarly properties abroad. Prime coastal property escalates comfortably ahead of inflation because of the high demand for prime coastal locations.

This has the effect that the affluent part of society with the buying power can afford to outbid the rest of buyers and that the ordinary husband and wife team cannot compete financially with them.

The young family keep renting holiday homes at exuberant rental prices, having all the hassle of packing and unpacking personal necessities and never really getting to know the rest of the holidaying community because of their irregular visits and various alternating destinations.

It is often only much later in life when their financial position has improved considerably, that the middle class family move into a new income bracket where they can afford to buy prime coastal property. By that time the children have grown and the special relationship between parents and young children have changed without the joint experience of carefree holidays spent at the ocean and the interaction with other families with small children. The opportunity of bonding with lifelong holiday friends has then gone too.

It is therefore much more difficult to resettle later in life in a prime coastal location because it will be a complete start from scratch. Even more so for buyers from abroad who would like to resettle at the South African coastline because of the favourable exchange rate. Although they will have the money to travel extensively through this beautiful country, the homecoming will always be to a lovely place at the ocean but without the community of friends around.

It therefore makes sense to consider well in advance the option of relocating to the coastal areas of South Africa to take up a different option of buying into prime coastal properties. Instead of not being able to buy an exciting coastal property in own financial capacity, one could explore the possibility of buying an exquisite seaside property through the combined effort of the extended family.

It makes sense to group likeminded family and/or friends together and ustilise the combined financial capacity to buy a coastal property and thus secure a holiday base and eventual home-ground at an affordable price. A holiday home or apartment can be allocated on a strict time schedule securing the holiday rhythm of all parties involved. One can also rent the coastal property out to tourists as there will always be demand for exciting holiday destinations.

By doing the "family or friends" approach in buying prime South African coastal property, one ensures that the joy of holidaying at exciting venues can be experienced in the time when it will be most important to cement the right purchase price and to enjoy such a property much earlier than expected.

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