Choosing a retirement property can be a daunting prospect as you need to consider location, cost, amenities, and healthcare services.Crucially, you also need to decide what type of ownership scheme you are buying into are some of these.The two options most commonly offered by retirement developments in South Africa are sectional title or life rights ownership.They differ significantly on the matter of...
Interest rates are expected to remain high this year but fixing your home loan rate to compensate for any nasty surprises may not be your best idea.It may even be a downright bad decision.This is because a fixed interest rate should be a choice based on your appetite for risk, not the fluctuation of the prime lending rate.If you believed otherwise, however, you can be forgiven. In fact, when the interest...
Many financially stable and credit-worthy buyers are left gobsmacked when their home loan applications are denied based on factors they thought they had covered.They do not realise that having unused credit on a retail account or credit card is viewed negatively, or that seemingly minor things can count against them.These include late payments and unresolved disputes with companies that may even be in the...
Homeowners struggling against the rising cost of living may not know this, but it is possible to reduce the amount you have to pay on your home loan each month.That’s right, saving money on your home loan repayment is not only reserved for buyers who are able to shop around for the best interest rates and can benefit from the competition between banksThe succession of interest rate hikes has had a “big...
No matter which way you go about it, getting divorced is a hefty cross to bear, both emotionally and financially.More often than not, ending a marriage also results in a drop in living standards for both parties, especially if one has to pay additional financial support to the other each month. Apart from child maintenance that one divorcing parent will have to pay the other, courts can also order that...
If you were blessed with the home of your dreams and price was not a consideration, would you opt for a beach penthouse with panoramic views, a mansion on a golf estate, or a Big 5 game villa complete with lodges and hectares of land?For those with the financial means, South Africa currently has an abundance of super luxury multimillion rand homes and properties up for sale, but with prices exceeding more...
The South African property market is expected to face another challenging year as high interest rates and living costs squeeze the affordability levels of buyers.Even though interest rates are not expected to increase in 2024, the currently high rates will remain in place for most of the year.Fewer buyers will qualify for home loans and sellers will need to be smart about how they price their...
If one of your New Year’s resolutions is to become a property investor and make 2024 the year you start to build wealth and create a financial legacy, it is never too late to take the plunge. Even if you do not yet own a home, your first brick-and-mortar purchase can be with the primary intention of making money by renting it out and not for use as your primary residence.With interest rates expected to...
It has long been accepted that Cape Town is the semigration capital of South Africa and a magnet for international property buyers, but it appears that Gauteng is not far behind when it comes to attracting foreign currency spend.Real estate professionals say that while the Mother City is drawing in luxury homebuyers from Gauteng and abroad, South African expats are snapping up property in the country’s...
There are many assumptions when it comes to who gets to keep, or live in, the matrimonial home after a divorce order is granted.But the truth is that ownership of the home will either depend on who the property is registered to, or how the couple is married.If they are married in Community of Property (COP) the home will be in both names, even if it was acquired by one partner before the marriage.If,...
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