Prince Kaybee Gives Property Advice, Says a House Is a Liability but Mzansi Cooks Him
- Prince Kaybee attempted to give peeps advice on property ownership and said a house is a liability, but speaking to Briefly News, Kgodisho Kekana, a real estate agent, debunked that
- Kaybee shared that owning a house can be very costly as there are many factors to consider, making it a liability instead of an asset
- The Wajelwa hitmaker's lengthy X post saw him getting roasted for sharing his views on the concept of owning a house
While buying or owning a house might be considered one of the most significant achievements to some, Prince Kaybee gave peeps a reality check.
Source: Instagram
Prince Kaybee says a house is a liability
South African music producer Prince Kaybee gave unsolicited advice on owning a house in South Africa. The Wajelwa hitmaker said a house is a liability, considering the many factors to consider when looking to purchase one.
Including the monthly payments that go into paying off the home loan, making a house a liability instead of an asset.
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"A house is a liability, something that can’t produce monthly or annual income is not an asset UNLESS you are beyond losing your property even if income is an issue then you might be good."
Kaybee wants Mzansi to look at the grim reality of unemployment in SA
In his argument, Kaybee said homeowners could opt to sell the house, but the money would not sustain them for long, looking at the unemployment rate in the country.
"You might argue should you hold on to it long enough you will sell for profit, possibly yes but for how long, how long do people keep jobs in South Africa?, how many repossessed house have you seen on auction? A house just takes your money every month like any liability. Not saying don’t buy a house but know that its a liability, this is just me with the many houses I’ve lived in, not theory that I read on google."
Real Estate agent Kgodisho Kekana debunks statement to Briefly News
Speaking to Briefly News, Kgodisho Kekana, a real estate agent, debunked that statement. saying owning property is most definitely an asset. He clarified that a mortgage loan can be the own considered a liability.
"Owning property can only be an asset. Your mortgage loan is the one that is a liability. So, that statement is false and not true."
Kekana mentioned that you can list your house on Air BnB to help pay off the mortgage loan faster.
"You can make money off your property by putting it on Air BnB or rent out some rooms to decrease the burden of your mortgage loan faster."
Mzansi argues with Prince Kaybee
Prince Kaybee's lengthy X post saw him getting roasted, with many peeps giving their views.
@Ori_RSA joked:
"Buying a house and put it in Air BnB, then go to live in free shacks by Khayelitsha >."
@PrivateJay01 argued:
"Owning a Property is not a liability. 20 Years ago was Yesterday and many have finished paying their bonds and House belongs to them now. Some pay off bond in 5-10 Years and house becomes theirs."
@Mothematiks said:
"Buying a house or investing in property are two different things. Just buying and expecting miracles is a liability yes. Investing is broad, and it is sure not a liability."
Prince Kaybee gives artists advice
In a previous report from Briefly News, Prince Kaybee gives artists financial advice on spending income before they fulfil their obligations.
Kaybee said that they are in debt if six venues pay upfront, and the artist spends the money before performing at those shows. His advice resonated with many people who agreed with him and said artists are in debt if they spend their income before earning it.
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Source: Briefly News
