Think twice about buying new shoes and lipstick and save to buy a house instead, says Mdantsane-born property mogul Sandisiwe Mbutume who shared her knowledge and 20 years experience in the property industry.more
Mbutume was addressing about 50 women at the MHG Property Development Specialists office’s at Beacon Bay Crossing on Thursday evening, as part of her Women In Property engagement sessions.
Mbutume, who is the managing director of Azzaro Quantity Surveyors and president of the Women in Property network which she launched in East London earlier this year after experiencing phenomenal growth in other parts of the country following its national launch in 2000.
“Since the growth of the network over the years, I saw the need to bring it home to East London, to share skills and information with other women and to encourage them to venture into property which is a long-term investment.
“Recently National Treasury has also shown an interest investing in the Eastern Cape – East London and Port Elizabeth – because of the potential the area has. There is a lot of room for development here, while areas like Gauteng and KwaZulu-Natal and the Western Cape are over-exploited with development,” she said.
At Thursday night’s talk, Mbutume shared with the audience that she had been in the property business since buying her first property some 20 years ago.
“Some people think it’s difficult to buy a house, but there are grants available for first-time buyers and in the long-term, it can be a great investment whether for residential or commercial use. You cannot go wrong investing in property because annually it usually appreciates by 10% and if you’re leasing it out, it can easily buy you another property,” she said.
Mbutume said over the past 10 years Buffalo City Metro had gradually become decentralised, but the metro was finally coming to the party.
“It's never too late to venture into property, but you need to realise the potential of an area or a property before it matures.
“Even if you are buying property to let, it is an investment which you need to leave to an agent to manage if you want see growth in what you’re doing, but it’s important to find the right agents,” she said.
Mbutume warned that not all property agents were good agents. “It's important to do your homework, research, and get good references before using an agent.
“You may not have an Uncle Kerzner, but your property can be,” she said. — mbalit@dispatch.co.za..