Yes, everyone talking about the semi-emigrating to coastal towns for a better life….

Yes, everyone talking about the semi-emigrating to coastal towns for a better life….

However, there seems to be a trend of people moving back as well, when they realize property prices becoming unaffordable or perhaps ridiculous high for property in areas not financially sustainable in comparison to Gauteng and adjacent provinces. Give it some more time. Some areas will certainly work out, but some, nah.

And what better quality of life is there when you have nature, but no income? And don’t say there are less crime. Crime is like a shadow. Give it time and it will follow you because the criminal also wants a better life.

And more and more cannot afford to retire no more and must keep on working. Now young and old compete in the little coastal town for the same work? And when the “aude euphoria” is over, you might be deep in trouble and trying to sell your property at a price resolving your financial issues. Which is not going to happen. And you will sell at a loss.

My assumption is, many who invest their money in a coastal property, will lose it, as they have paid too much and with emotion. I recently sold a St Francis (Sea Vista) stand with sea views for a ridiculous R170k, which I bought 18 years ago for R55k. I tried several years to get R300k. I sold it, just to get rid of it. R9k per year tax. No water. No electricity. The area didn't grow in value. But the tax increases. So, since date of purchase to date of sale, I made no profit.

They say, if the grass looks greener on the other side, perhaps you must start fertilizing and water your side of the fence? When you make a move for a better life, it means you scale down. And to scale down, does not mean you should put all your capital values into a house. Or vacant land, because building costs will take you years and years to accumulate for making up your capital costs injected. Or even a farm for that matter, thinking you will make your money back and live from fresh air and silence only. Over the years I have seen them come and go. And the end is always the same. With the great depression, everyone moved to the cities where there was work and capital.