Buying a home or a car is one of the most significant financial decisions you'll ever make. It can be an exciting journey, filled with dreams of new beginnings and the thrill of ownership. But, as our latest podcast episode reveals, it’s also...
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Is the Discovery home loan a good deal?
The Discovery home loan is the latest product from the financial giant, offering an interest-rate discount to qualifying clients. But is it worth switching? Discovery Bank recently launched its home loan offering, which is a joint venture with SA...
SA elections and property: buy now, sell later
This year, almost half of the world's inhabitants will head to the polls to elect their new governments, including eight of the world’s 10 most populous countries. “In South Africa, we can expect our own election to put the property market into a...
How the interest rate affects the property market
The prevailing interest rate is one of many factors that influence the decisions being made by home buyers and sellers. With interest rates currently high, prospective buyers and sellers must carefully evaluate the implications of their decisions....
Is a pension-backed home loan a good idea?
A pension-backed home loan is an alternative form of housing finance where a person uses their pension savings as security for a home loan. When you apply for a home loan, the bank will consider the property as security for the loan but will also...
Why investing in property is not low-risk or passive
Investing in property can be a great investment, but be sure that you understand the risks. I recently ran a survey on social media to understand what asset classes people invest in. The majority of women prefer property over investments such as...
Tab still running on paid-up home loans
Hundreds of thousands of South Africans have paid-up home loans which may still be costing them money. Homeowners may not be aware that in some cases, their paid-up mortgage will continue to attract fees unless they have canceled the bond over the...
What you need to know about evicting a tenant
For most landlords, evicting a tenant is a last resort. It is a complex, expensive process that takes a long time and is emotionally taxing. However, with the Q2 2023 PayProp Rental Index revealing that the number of tenants in arrears has risen to...
Planning to own a home
For most young people buying a home is a financial priority, but a home is a significant purchase and it’s important to get your finances in order first. Two of the Absa/City Press Money Makeover contestants are preparing for this big step. Molefi...
Fixed installments ‒ but at what cost?
An offer from your bank of fixed installments on your home loan might seem like great news, but be aware of the costs further down the road. Standard Bank announced that it is providing some breathing space for more than 20 000 home loan clients by...
Previous Articles
Should you extend your home loan to make ends meet?
If you're a homeowner under financial pressure, one way of reducing your monthly expenses is to extend your home loan. Homeowners in South Africa are under immense financial pressure these days due to the high interest rate coupled with the increasing cost of living....
Building vs buying a home
When it comes to finding a new home, the building vs buying question is ever-present, and deciding between buying an existing property or building from scratch can be daunting. “There are numerous factors to consider including location, customisation options, and...
Is a R51k salary enough to comfortably afford bond repayments?
Viral Twitter thread sparks property industry debate Recently, a hypothetical question was posed around what South Africans could afford on a R51 000 net salary. This became a trending topic on Twitter, sparking debates over whether these earnings would be enough to...
How banks assess affordability for a home loan
With interest rates at their highest levels in 14 years, many would-be homeowners are finding it difficult to meet the affordability requirements for a home loan. According to the latest statistics from ooba Home Loans, while the country’s average purchase price for a...
Buy a home or replace my car?
Many people are wondering whether now is the right time to buy a home for the first time, given the high interest rates. It is a common question I receive from readers. One reader wrote: "I am looking to buy a home for the first time but am concerned about the high...
How to fund your solar panels
In February’s budget speech, the government introduced some tax relief for households who wanted to get off grid by investing in solar panels. However, this relief won’t help to fund the entire installation cost, and with solar panels costing in the region of R5 000...
Can you use a pension-backed home loan to help take you off the grid?
A pension-backed home loan could be a possible solution if you're looking for a way to finance alternative energy sources for your home. Consumers are in a tight financial squeeze, with an increase in fuel prices in February, coupled with an interest-rate increase of...
Property scams to watch out for
Jackie Smith, Head of Buyers Trust, warns that prospective tenants and home-buyers are becoming the targets of increasingly sophisticated property scams. Over the past two decades, internet sites such as Property24, Facebook Marketplace and estate agency websites have...
How prepaid funds work in your access bond
Depending on how your access bond is structured, you might not be able to withdraw all of your prepaid funds. Many people believe that putting all of their “spare cash” into their access bond is a smart thing to do. It can serve as your emergency fund because those...
Video: What your credit score says about you
If you are planning on buying a home, the first thing you should do is go check your credit score. The purpose of your credit score is to inform prospective lenders how much of a risk you present when you apply for a loan. If a lender perceives you as a high risk,...