When it comes to purchasing a home there are more financial elements to take into consideration than just the bond repayment. This is according Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who points out that while the bond repayment is a major consideration, there are also a number of other costs that a potential home buyer will need to make provision for. “Very often when buyers are looking for a home that they can afford, they look at how much they will need to … [Read more...] about Buying a home costs more than just the bond
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Growth expected form bonded affordable housing space
The bonded affordable housing space (homes priced from R300 000 – R650 000) is set to grow considerably over the next few years – both in terms of buyer demand and investment potential, says Adrian Goslett, CEO of RE/MAX of Southern Africa, who is pleased to announce that RE/MAX will now be adding this sector of the market to their offering. He points out that currently more than 50% of the registered properties at the deeds office are valued at less than R500 000, and these kinds of … [Read more...] about Growth expected form bonded affordable housing space
Contemplating fixing the interest rate on your bond?
While the current prime interest rate is still considered to be comparatively low, Reserve Bank Governor, Gill Marcus has forewarned the South African public that we are currently in an increasing rate cycle and consumers should expect to see further rate hikes in the future. Considering this, it is no wonder that many homeowners are contemplating fixing the interest rate on their bonds, says Adrian Goslett, CEO of RE/MAX of Southern Africa. Who would benefit from a fixed interest rate? … [Read more...] about Contemplating fixing the interest rate on your bond?
The Tenuous Brotherly Bond
A reader has asked the Property Poser panel for help in extracting himself from a property he jointly owns with his brother. He writes that the situation is potentially tricky as the house is bonded and the mortgage bond is registered in both the reader and his brother's names. According to Sean Radue of Radue Attorneys in Port Elizabeth, there are two primary considerations for the reader to ponder. "This first is the legal relationship between the two brothers regarding joint … [Read more...] about The Tenuous Brotherly Bond
Is suspensive condition bound by additional loan?
This week, a reader has sought the Property Poser experts' advice about a suspensive condition on an offer to purchase a fixed property. She seems to have signed an offer that contained a suspensive condition relating to the successful acquisition of bond finance. The finance was approved but the reader applied for a further loan to cover the additional costs, including transfer duty and legal fees. The reader explains that the bank rejected her application for the additional sum and … [Read more...] about Is suspensive condition bound by additional loan?
Friday Rant – Nkandlagate by the Numbers
When news of the large amount of money being paid to upgrade our President's family compound in Nkandla broke our government spin doctors were quick to point out that President Zuma was going to pay 10% of the R248 Million No matter how you look at it, there is something wrong here: If President Zuma had to pay his entire Presidential salary over every year on a bond of R248 000 000.00 then it would take him 94 years to pay JUST the capital. If he had to pay his entire Presidential salary … [Read more...] about Friday Rant – Nkandlagate by the Numbers
