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 03
Sep

Cape Town home loan repayment story

Liezl Hesketh in Stories 

home-loan-repaymentWhen you decide to start a family of your own, there is a mindset shift that takes place: the “I” changes to “We”. The decisions you make affects the rest of the family, either negatively or positively. The wonderful thing is that, you are not travelling the road alone and your spouse or significant other is right there beside you.

The beauty of life is that there are ever evolving job/business opportunities available and once you seize one, the life which the family leads changes in a single breath. Nonetheless, the will to succeed never dies in a true family man. Marcus relates his story of how an unfortunate situation revealed a goldmine he wouldn’t have otherwise discovered.

From humble beginnings

Marcus grew up with his big sister, Sarah and their parents. She later got married and moved to the UK leaving him behind to finish school. This encouraged Marcus to work hard at school so he could join her in Britain. Little did he know that he would grow to love Hout Bay, a suburb in Cape Town not far from Chapman’s Peak.

His father owned a guesthouse there which he frequented on weekends and school holidays. During this time, his father would take him along on his regular drives. All his father wanted was to bond with his only son, as any father would, but Marcus would sometimes invite his girlfriend. He worried that they may not get along this first time, but little did he know that, his old man would adore her.

He later proposed to his girlfriend, Lisa (not TheRoomLink Lisa) at Chapman’s Peak. They were both at Stellenbosch University, studying Engineering and Theology respectively.

Starting a life together

They ended up completing their studies more or less the same year, Marcus securing an internship at the local firm which later turned into a permanent post with exciting company benefits. Lisa on the other hand, decided to join a local tutoring support group that helped struggling students as a Tutor. Her job was demanding, so she asked her soon to be husband to look for a good wedding venue.

In that year while planning her wedding, she decided to start her own business. For someone who was planning a wedding, she was determined to make it work regardless.

On the wedding day, everything turned out exactly the way she always wanted – decor, venue and the wedding dress. Brides often have to deal with last minute changes, fortunately for her that was not the case.

Soon after the wedding and honeymoon, house hunting begin. They received a home loan and bought their dream home in Hout Bay, and Marcus was overjoyed. The house had three bedrooms with an outside granny flat and garages. According to the estate agent, they were lucky to secure it as it was the most viewed house on their books. Marcus’s wife was just glad that everything was going according to plan as even the move to the new house was totally hassle free.

The business she started was growing organically and Marcus was promoted in his job, to head up a newly introduced unit within the firm. They were both so happy and grateful, but even that couldn’t compare to their excitement when they learned of Lisa’s pregnancy. Marcus’s mother flew his sister out from the UK so they could celebrate as a family. The Kohls’ ladies were soon hitting the baby shops. Talk about a proper ladies outing!

Life changes in a split second

Everything just seemed to be perfect until the unthinkable happened, Marcus’s firm closed down and Lisa’s business would not generate enough money to cover their expenses. All of a sudden, their lives were turned upside down. They needed to find a way to manage financially with Marcus out of a job. Arguments ensued when Lisa suggested they find a smaller house which would ease the burden. Marcus knew that it would take a while for him to get a job but didn’t want to sell their home that the had worked so hard buying – that same day he approached his father in law who understood property business for advice.

garage-enclosure-floor-planThe advice he got seemed excited Marcus but realistically he didn’t see it happening. His father in law advised him to rent out the granny flat which was vacant and turn one of the garages into another room to rent. He visited TheRoomLink, and acquired the standard leasing contracts for the granny flat first and then garage conversion tips on TRL pinterest boards. He planned to use the first month’s rent to purchase material to convert the garage which he did.

Marcus used resources available on TheRoomLink coupled with advice from his father in law to turn his situation around. Today, he uses the site to list his father’s guesthouse rooms and occasionally shares property tips with his friends.

Landlords success starts here!

Previously we touched on the student accommodation crisis that South African’s students find themselves in, and unfrotunately, university residence can only accommodate only a few. Commuters also find themselves having to spend countless hours on the internet searching for accommodation nearest to work, but this has since changed with TheRoomLink’s matching capabilities. As a landlord, you can do your bit by renting out the extra rooms or converting your unused garage into a nice apartment.

Image in post via Garage Enclosures