Buying a house....

My neighbor just dropped his asking price by half a mil, I rate its the perfect time to go bargain hunting.
 
Yeah I think so too, just got a house on a great deal well below asking, agent dropped his comm to 3% got prime less 1.25 all this and I am a first time buyer.
 
I think it's a foolish decision to buy property as your primary residence. You'll get a lot more by renting. Rather buy to rent if you really feel the need. SA economy is too unstable, and property rights are not honoured nor are protected. There are plenty of worksheets showing the actual cost of buying vs renting, and if you do the maths yourself, you'll see that the better choice is to rent. You'll get more for your money, you'll be flexible, and you can still save and invest, but rather in offshore markets. Think about it this way (since you mentioned marriage), who tells you that diamonds are forever? Who tells you that you NEED to own a home?
 
itsme2 said:
I think it's a foolish decision to buy property as your primary residence. You'll get a lot more by renting. Rather buy to rent if you really feel the need. SA economy is too unstable, and property rights are not honoured nor are protected. There are plenty of worksheets showing the actual cost of buying vs renting, and if you do the maths yourself, you'll see that the better choice is to rent. You'll get more for your money, you'll be flexible, and you can still save and invest, but rather in offshore markets. Think about it this way (since you mentioned marriage), who tells you that diamonds are forever? Who tells you that you NEED to own a home?
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Do remind me to remind you never to become a salesmen.
 
falcon786 said:
Just been through this in the past few months and I wish I could say it was over as it's been registered in my name on Monday but now apparrrently I need to go into an FNB branch to authorize debit order and no idea what I need to do at municipality or how I'll receive the municipal bill?

House is currently on post paid,should I change to prepaid?Dealing with municipality sending them monthly readings etc would be a schlep to me personally.
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Irrespective of your prepaid or postpaid, you still need an account with them for rates & taxes.

I just asked the transferring attorney to assist with it. They put me in touch with someone who claimed my refund from the previous place, and opened an account for the new place. Cost about R900 IIRC. Worked out cheaper and more convenient than taking a day off work to go and sit at the municipality myself.

Even after that, I still had issues to get my statements emailed to me. Had to register for eServices on the CoJ site and set my preferred option to email, and eventually I'm getting emailed statements about a year later...
 
gamer16 said:
Do remind me to remind you never to become a salesmen.
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Go do the maths before you make quick comments. You can rent a 6 bar house for 25k these days. Go run the numbers (properly), then lets talk.
In fact, these days if one MUST own their house, then it's cheaper to build.
 
itsme2 said:
Go do the maths before you make quick comments. You can rent a 6 bar house for 25k these days. Go run the numbers (properly), then lets talk.
In fact, these days if one MUST own their house, then it's cheaper to build.
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Your math may be right but if we only used math to make our life choices you'll end up living in a box with Rosie Palm and her five sisters.
 
itsme2 said:
Go do the maths before you make quick comments. You can rent a 6 bar house for 25k these days. Go run the numbers (properly), then lets talk.
In fact, these days if one MUST own their house, then it's cheaper to build.
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Lol where do you find these houses for that little?
 
gamer16 said:
Your math may be right but if we only used math to make our life choices you'll end up living in a box with Rosie Palm and her five sisters.
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I'm not here to make your decisions for you. Make your own mind up. I'm just saying that one needs to be open to the fact that BANKS SELL DEBT. Banks say that you NEED a house. A physical property is a way better bet for a bank than a business prospect. Ever tried to open a new business on a bank's dime? Good luck.
 
itsme2 said:
Go do the maths before you make quick comments. You can rent a 6 bar house for 25k these days. Go run the numbers (properly), then lets talk.
In fact, these days if one MUST own their house, then it's cheaper to build.
Click to expand...

You are aware thats a ridiculous over simplification of a very complex topic....
 
itsme2 said:
I think it's a foolish decision to buy property as your primary residence. You'll get a lot more by renting. Rather buy to rent if you really feel the need. SA economy is too unstable, and property rights are not honoured nor are protected. There are plenty of worksheets showing the actual cost of buying vs renting, and if you do the maths yourself, you'll see that the better choice is to rent. You'll get more for your money, you'll be flexible, and you can still save and invest, but rather in offshore markets. Think about it this way (since you mentioned marriage), who tells you that diamonds are forever? Who tells you that you NEED to own a home?
Click to expand...

While some of what you say makes some sense, you suggest buying to rent as a great idea while claiming property rights are neither honoured nor protected, which makes buying any property a terrible idea and buying to rent the worst idea. I very much doubt I can rent a house like I own for what I am currently paying on our bond, in fact I couldn't rent a garden cottage.
 
Neuk_ said:
While some of what you say makes some sense, you suggest buying to rent as a great idea while claiming property rights are neither honoured nor protected, which makes buying any property a terrible idea and buying to rent the worst idea. I very much doubt I can rent a house like I own for what I am currently paying on our bond, in fact I couldn't rent a garden cottage.
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I'm saying that to own a property that doesn't make you a return is a liability. Now perhaps you bought years ago, and the sting has gone, but overall, look at how much interest you'll have paid over your 20 years. Add to this maintain costs and all of the fees, bond costs etc. No look at how much that would have made you with 20 years of investment.
And yes, low risk properties are a great idea. Flats in the right places etc.
Of course do whatever. I'm just saying that it's not always the right answer to purchase assets, and that often assets are not always in the favour of the supposed owner.
 
itsme2 said:
Go do the maths before you make quick comments. You can rent a 6 bar house for 25k these days. Go run the numbers (properly), then lets talk.
In fact, these days if one MUST own their house, then it's cheaper to build.
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please send me a link for one of these houses you find for R25k
 
Yeah its a bit of a struggle to buy a property sometimes. It took 8 months from the time i signed the offer to purchase, to actually getting a bond signed and move in.
 
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