Most people define good financial health as being debt free and having money in the bank. However, Gail Roberts, CEO of FNB’s One Account, advises that there is more to measuring financial health than meets the eye. Being debt free is just the tip of the iceberg.

According to Roberts, people often overlook property when planning for long term financial health as the viability of the decision is influenced by many factors.

"Although interest rates play a big role in making an astute financial decision, there are other factors to consider. Primarily though, consumers should consider whether it is better for them to be paying their own home loan or that of someone else," she says.

Unless you are planning to move in the next 12 to 24 months, then the current market has much to offer you. Even so, Roberts suggests that you compare your current rental costs against selling prices to be sure. Most personal finance advisors recommend that rental costs should be at least 35 percent less than what you would be paying on a home loan on a similar property in the same area.


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