Homeownership is not for the fainthearted. With South Africa’s economy perched precariously on the verge of a recession for several months, buying a home can be risky.Getting a bond has become more difficult as banks have become more cautious about lending. A lot of vetting and checking is necessary before a bond is approved. The idea is to minimize the risk of defaulting on a bond. The borrower loses all the money they paid back on the bond prior to ...

Buying a house is a huge commitment. For at least the next 20 years, you have to pay off a substantial debt. If you try to sell your house without at least having paid off the interest on your bond, you’re unlikely to turn a profit.The process of finding the home of your dreams and getting a bond to buy it requires a lot of time and effort. While house shopping is lots of fun, getting the finance you need ...

Insurance is one of those purchases that you hate to spend your money on although you know it is a necessary investment that will protect you in the future. The money you spend on insurance each month is minuscule compared to what it would cost you in the event you need the pay-out.Since insurance is a product that you can tangibly get your hands on, many people are reluctant to fork over their hard-earned money. When it comes to insurance, ...

Buying a house is a massive financial investment and one that most people cannot afford on their own. This is why many South Africa’s take out a home loan to help them through the home buying process.In our current economic climate, it has become increasingly difficult for potential home buyers to qualify for a home loan, let alone buy a house for cash. What do you do when you can’t afford a home loan on your own? Let’s take a ...

Last year was a bit of an annus horribilis for the property industry. A volatile combination of political and economic uncertainty led to a cauldron of concern. Someone was heard to say: “You can’t even give your house away!” While the denouement may not have been that dramatic, it nevertheless saw house prices dropping dramatically.It seems that where the sales are happening are close to transit routes and schools. The land has already been earmarked close to the expansion routes ...

The year of 2018 was an interesting one for South Africans – from a newly instated president, interesting IT revelations from SARS, and a couple of finance ministers. The V.A.T. increase of 1% in April 2018 came after 25 years of V.A.T. being set at 14%. One of the areas it affected was the buying and selling of properties.An issue was how the increase in V.A.T. would affect property transactions that were currently being concluded.What does a V.A.T. increase due ...