Property value is governed by a few fixed factors. Here are some of the factors which influence the value of your property investment.
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You decided to purchase a second property as an investment, and the cash to purchase the property is readily available.
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Banks in South Africa ensure that the interest rates on home loans are as competitive as possible – while there is a limit to how low they can ‘discount’ interest rate offerings. For home buyers ‘shopping’ around for the best available home loan product it does pay to remember this when considering where to apply for financing for your home.
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When not managed properly, mortgage debt can place an enormous amount of stress on homeowners. A fair amount of homeowners are ignorantly labouring under the weight of a home loan that is well in excess of their home’s current value. This may be because of the fact that interest rates are at such a low and they are comfortably able to afford their monthly instalments. As such it doesn’t seem to be a big deal that their homes are currently a liability instead of an asset. Some owners will find themselves back in equitable territory when the values of their homes increase. Some, however, are not that lucky and may feel that the only way to sensibly reduce their indebtedness is to sell their home.
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Latest statistics from First National Bank reveal some interesting trends in the property market. The ‘property barometer’ report released on the 19th of October lists predominant reasons given by sellers for selling their primary residences. Also known as the FNB Estate Agent Survey, the property barometer report provides valuable insight into the current developments and fluctuations in the market.
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Generally, most people’s biggest long-term debt will be their home loan. And while property prices may fluctuate randomly, you do have control over which home loan you choose to finance the purchase of your house. It is imperative that you select the loan with the options and benefits that suit your needs and your pocket the best.
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Since their house is, for most people, the most substantial investment they will make in their lifetime, it is common to have a 20 year loan repayment plan in order to meet the expenses of having a monthly bond repayment.
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Before signing on the dotted line, it is incredibly important for prospective homeowners to consider the additional costs involved in purchasing a property over and above the selling price. Many buyers who are itching to enter the property market are mainly concerned with what their bond repayments will be, and fail to realize the impac
...read moreWant to buy a repossessed property on auction, but afraid you will not qualify for a home loan? We all know that right now is a good time to invest in property. So, why not save some more money and buy yourself a repossessed property? ...read more
Do you know the difference between insolvency and bankruptcy? People tend to confuse these two terms. However, they do have different meanings and different purposes. Together, insolvency and bankruptcy form part of a process. ...read more
Struggling to decide whether to buy or rent? Here are five good reasons why buying repossessed property on auction is better than renting: ...read more
The South African Reserve Bank (SARB) made the decision that the repo rate should remain unchanged at 5.5%. The SARB has kept the rates unchanged for 16 months, and it is the lowest in 30 years. This decision leaves the Rand less volatile. ...read more
In the current South African property market there are arguments to buy property, but also to rent property. Find out what differences there are...
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The South African home loan market has seen dramatic changes in recent times with the introduction of the National Credit Act (NCA). Today we’re facing a new dilemma with banks changing their Loan to Value (LTV) criteria for home loans. The LTV criteria determines the percentage of the property’s value the bank will grant a home loan for.
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