Owning property in SA | It is financially more viable to rent than buy?

JOHANNESBURG - More homeowners are struggling to pay up, given all the added costs of owning a home these days.

It's driving more South Africans to rent instead of buying. 

READ: Over half of SAns' take-home pay used to service debt

Property economist Erwin Rode says renting is not necessarily a bad thing.

"Do your homework. If you were to save the difference in renting and buying, and then save that money you would be better of financially than you are if you had bought that same house and paid an installment of R20,000 or whatever," Rode said.

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