Average house costs R924 800

[JayM]

The problem with the NCA is that it takes your earnings and reduces it by your expenses. The problem here is that if you are truthful about your expenses, then you will not qulify.

So cut back on your expenses FIRST, just to make sure that you can, then apply for finance. That way you will get the NCA protection and have your mind at ease that you really can afford it.

 

[TiredOfWaiting]

Yip, just don't buy a house you can't afford. Plunging yourself into a black hole of debt is just not worth having that extra room in your house.

 

[JayM]

Does this average price include townhouses and flats, or just houses? I see ABSA uses 80sqm as the minimum, but some houses are smaller than this, and some townhouses/flats are bigger. Seems rather arbitrary to me, and would definitely serve to inflate the average price. You can still get an OK townhouse/flat in Randburg for about 600K.