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Owning a home remains a top goal for many Zimbabweans. It symbolises stability, pride, and long-term financial security. But in today’s economic climate marked by fluctuating exchange rates, rising construction costs, and high interest rates renting property in Zimbabwe is increasingly being viewed not as a delay, but as a strategic step toward financial freedom.
Whether you’re working toward a deposit for your first house, testing out different suburbs, or looking for financial flexibility, renting in Zimbabwe can be a practical, empowering choice.
Renting Gives You Control and Financial Predictability
Buying a house in Zimbabwe often requires a hefty upfront commitment. Besides the 10%–30% deposit , buyers must budget for legal fees, conveyancing, capital gains tax, and ZIMRA transfer duty. For a US$100,000 home, these extras can add another US$5,000–US$10,000 to your upfront costs.
Once you own, ongoing expenses pile up: council rates, ZESA bills, homeowner's insurance, security, repairs, and maintenance. These can stretch monthly budgets thin, especially in Harare or Bulawayo where service delivery remains inconsistent, pushing homeowners to invest in backup systems like solar and boreholes.
On the other hand, tenants generally pay a fixed monthly rental, making budgeting more predictable. While some may also pay for ZESA, water, and refuse collection, major repairs and upgrades are usually the landlord’s responsibility. With average rentals in Harare ranging from US$250 for a one-bedroom apartment to US$1,200+ for a family home, tenants can tailor their living costs to match their income while still saving toward their goals.
Renting Offers Location Flexibility and Lifestyle Choice
According to ZIMSTAT, urban rental demand has been rising, especially in areas close to economic hubs like Avondale, Borrowdale, Msasa, and CBD fringe zones. Many professionals prefer to rent closer to work or schools, avoiding long commutes and high transport costs. Owning a home in these areas might be out of reach for first-time buyers, but renting opens doors.
It also gives you time to:
- Improve your credit profile
- Understand neighbourhood dynamics
- Monitor property price trends
- Save for a meaningful down payment in either USD or ZIG
And if your job location changes or your family grows, moving from a rental is far easier than selling a property, especially in a market where average time on market can exceed 3–6 months.
Renting Can Help You Save Toward Your Property Goals
One common pitfall is renting at the top of your budget for short-term luxury. Instead, consider this strategy:
Let’s say you plan to buy a home worth US$80,000. If your bond repayment would be about US$800/month, but you choose to rent for US$500, that US$300/month saving can be directed to a property savings account. In just 24 months, you’ll have US$7,200, close to a 10% deposit without factoring in any interest or investment growth.
Platforms like property.co.zw also provide tools like property alerts, neighbourhood comparisons, and mortgage calculators to help you stay informed during your saving journey.
Renting Frees You to Invest in Other Areas
Rather than tying all your capital into a home, many Zimbabweans are exploring alternative investment paths like stock markets, money market funds, or unit trusts. With the volatility in the property sector, some investors are choosing to rent and diversify, especially with inflation and currency risks in play.
If you’re renting for US$400, and allocating US$200+ monthly to investments, compounding returns can help grow wealth parallel to saving for a home.
Owning Still Has Its Place But Plan Ahead
If you do choose to buy, be aware of the full picture:
- Budget for repairs and renovations, especially for older homes in areas like Mabelreign or Highlands
- Understand complex/estate levies if buying in a gated community
- Ensure your ZINARA property taxes and insurance policies are up to date
- Stay frugal with upgrades neutral improvements retain more value over time
Regular maintenance like fixing leaks, painting, servicing the borehole pump, or securing your durawall helps preserve the resale value of your investment.
The Bottom Line
Whether your goal is owning a home in Zimbabwe, building a solid investment portfolio, or simply maintaining financial control in uncertain times, renting is a valid and valuable path. It offers flexibility, affordability, and time to make informed decisions.
Start your journey by exploring available rentals on property.co.zw – Zimbabwe’s No.1 property marketplace with 8,000+ listings from 200+ agents. Renting could be your key to long-term property success.
