The most important questions to answer before you buy #property.
- Where can I buy my property?
You need to check the best area for you and your family. Is it far from work or to work. Is it far from school or to school. Is buying in a new development the best choice for me and my family. In most cases it is advisable to make a collective decision unless you are alone. How is the area behaving- the people and properties in the area. Is it in a good community?
- Do I qualify for the property I want to buy?
Yes. Everyone who has been permanently employed for the past six month will qualify to buy a house. Lets make a simple calculation. If you are earning from R 12 000,00 pm you will qualify for a maximum bond of R 360 000,00. You can start looking for a house in that rage. You can also combine monthly income for you and your partner. If your partner is earning R 12 000,00 it means you will both qualify for a maximum bond of R 720 000,00.
NB: In the event that your salary is less than R 12 000,00 you need to safe money for deposit. You can fill the contact form on the right hand side we will take you through.
- Will I afford it?
Yes. Banks are by law allowed to take 30% of your salary, meaning From R 24 000,00 you monthly payment will be from R 7 200,00 of which services the maximum bond of R 720 000,00.
- Is deposit needed?
When you buy in a new development and qualifying for the maximum bond banks own't ask for deposit. deposit are needed based on your risk profile. If you are earning from R 50 000,00 pm banks won't offer 100% on any house you want to buy. 10% deposit is needed.
- Do I have deposit?
When you start property hunting you can make it a point that you put aside R 500,00 or more per month saving towards your deposit. Deposit helps in making monthly installment low and keeps risk profile law. Deposit encourages banks to offer the best possible law interest.
- Will I have money to pay for extra cost?
It is advisable that when ever you buy property to make it a point that you don't incurred any extra cost to add on. New developments need no extra cost like lawyers fees- transfers fees.You are more than save when you buy in a new development.
- Will I get value for money
Properties has never lost their value. Property value always increases. You will never make a mistake when investing in properties. We are here to help.
- How is the location I want to buy in?
The best way of familiarizing yourself with an area is to visit it 7 days a week on a different time frame. Try to navigate all the street, check schools,check the community,check accessibility, check roads and routes,lifestyle and amenities in the area.
- How long will I be living there?
Bond duration is 20 years. The possibility is that you can be in this community for the next coming 20 years. You can choose to sell and change location.Or you can live in a location for the rest of your life. Be careful with your choices. Always seek professional advises.
- What is in the area and will there be any future development?
What ever is in the area at the time of purchasing add value to your property. Community lifestyle add value to your property. Improvement in the area add value to your property. Good news to your property if a school,clinic or public structures are added and renovated.
No comments:
Post a Comment