How to buy a house for half the price

Although this book was written specifically for the South African market, it can be used anywhere in the world where houses are purchased through mortgage bonds. The same principles apply. It addresses the following: Whether to rent or to buy and the advantages of buying over renting.

Short Description

Although this book was written specifically for the South African market, it can be used anywhere in the world where houses are purchased through mortgage bonds. The same principles apply. It addresses the following: Whether to rent or to buy and the advantages of buying over renting.

Long description

How much bond one qualifies for, that is the maximum amount a bank can give you based on your income and how you can calculate this for yourself. How to get out of debt and what the debt situation is like in South Africa. How to save for your first house, the important point being that savings has nothing to do with how much you earn but how you use what you earn.

Buying your first house, what is required, payments you have to make besides the deposit for the house such as transfer fees and bond registration. Buying a flat which you have to do on what is called sectional title and what this entails. Buying land to build your own house, the advantages and disadvantages one of which is that normally it is more expensive to build your own house that to buy an existing one.

How to save thousands on your bond by making simple incremental payments on your bond. An extra R100 a month on a R300 000 bond for example will cut your 20-year bond by 21 months- yes, one year and nine months. Saving millions- how lump sum payments will cut your repayment period even further. If you decide to pay your annual bonus of R9 000 on a R300 000 bond and continue to make your usual monthly payments, you will pay off your house in 11 and a half years instead of 20.

Product details

Subtitle:
a Comprehensive guide to buying a house in South Africa
Format:
Paperback
ISBN:
9780620497626

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