Affording a bond

[DrewChan]

I see my work offers a perk

1. Guarantee
To assist employees where they are unable to obtain 100% bond from the financial institution

Means I won't need to worry about deposit- affordability is still a problem

 

[SaiyanZ]

I'll be looking for a home loan in a year or so once I save up a decent deposit for all the initial fees. My expenses are minimal. All I pay is rent, petrol, food, internet, cellphone, electricity and other randoms which come to around 30% of my net salary. My car is paid off. If I buy a place my rent will be scrapped so my total expenses will only be around 15% of net salary so I'll have up to 85% to spare for a home loan. The 30% limit is too low in my opinion if you have no other debt.

 

[Messugga]

I'll be looking for a home loan in a year or so once I save up a decent deposit for all the initial fees. My expenses are minimal. All I pay is rent, petrol, food, internet, cellphone, electricity and other randoms which come to around 30% of my net salary. My car is paid off. If I buy a place my rent will be scrapped so my total expenses will only be around 15% of net salary so I'll have up to 85% to spare for a home loan. The 30% limit is too low in my opinion if you have no other debt.

Rates and taxes and levy ads a chunk, depending on the value of the property. 30% may be low, but should interest rates go up significantly, it'll save your ass.

 

[Sly21C]

I'll be looking for a home loan in a year or so once I save up a decent deposit for all the initial fees. My expenses are minimal. All I pay is rent, petrol, food, internet, cellphone, electricity and other randoms which come to around 30% of my net salary. My car is paid off. If I buy a place my rent will be scrapped so my total expenses will only be around 15% of net salary so I'll have up to 85% to spare for a home loan. The 30% limit is too low in my opinion if you have no other debt.

Do you have medical aid? Looks like you do not have it.

Anyway, it's always refreshing to see people saving a bulk of their salary, most people spend spend spend.

 

[SaiyanZ]

Do you have medical aid? Looks like you do not have it.

Anyway, it's always refreshing to see people saving a bulk of their salary, most people spend spend spend.

My net salary is after medical aid, pension and tax deductions.