Investing Your Yacht Earnings in Property: A Smart Choice?

So you've landed your yacht job. You've worked hard, saved up, and now you're pondering what to do with your hard-earned cash. Is investing in property a good option for you?

It’s fair to say that many yacht professionals wrestle with this question sooner or later. Nowadays, more yachties enter the industry with a clear plan for investing and securing their future. This shift is fantastic compared to the past, where financial planning was often an afterthought.

Reflecting on Financial Decisions

Looking back, I wish I had a clearer goal for my financial journey in yachting from the start. Hindsight is always 20/20, isn’t it? Whether buying property in South Africa is a wise financial move is a decision that varies for everyone. Personally, I’m grateful I took that leap. Investing in property has provided me with passive income and a space I can call home.

The Property Hunt in Cape Town

Our two-bedroom apartment had become a bit cramped, prompting my partner and me to search for a larger place a few years ago. If you’ve attempted to find property in Cape Town, you know the struggle is real. Prices can skyrocket, and listings vanish in minutes. Cape Town is gorgeous, but the competition is fierce!

Navigating Financial Challenges

I won't go into all the nitty-gritty details, but figuring out what we could actually afford was no simple task. Because I didn't have a solid credit score—thanks to my lack of debt—I faced significant hurdles when seeking a mortgage. Wait, what? I always thought having no debt was a positive thing, but when it came to securing a mortgage, the reality was quite different. Having some form of credit, even a small clothing account in your name, helps tremendously.

I consider myself fortunate that we had a decent amount to put down in cash. This allowed us to minimize the finance we needed. However, it’s clear that having a better credit score and advice earlier in the process would have simplified things.

Seeking Professional Guidance

It can feel like a catch-22 situation for yachties. This experience can be daunting due to a lack of knowledge or experience. Speaking with the right person often transforms your outlook. I strive to provide assistance in my YOA role, and Minette did the same by guiding us through the bond approval process. Honestly, it might sound like a promotion, but this is the reality.

If you're contemplating buying property in South Africa, talking with Minette could prove invaluable. She offers advice on getting pre-approved or approved for a bond. Trust me; it’ll ease some of your financial worries. And yes, this consultation is free! With over 20 years of experience helping yachties, entrepreneurs, and self-employed individuals secure home loans, you’ll be in capable hands.

Why Choose Minette?

• Experience: With two decades in the mortgage industry, Minette is well-acquainted with the challenges faced by yachties.

• No Cost: Her initial consultation is free, which removes one financial barrier from the process.

• Tailored Advice: Minette will offer personalized guidance based on your unique financial situation.

  
  

Minette van den Bergh - Tel/WhatsApp: ‭+27 (82) 325-3664‬

Minette.vandenBergh@betterbond.co.za

Don’t hesitate to mention YOA or me when you reach out so she knows how you got her details. I genuinely hope it helps!