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Question of the Day: What is the ultimate French toast topping?
How much do you pay for your flat levy?
- Thread starter Pho3nix
- Start date
Well, painting once a year and 24hr security does sort of explain it. How many units in complex though?
I.am.Sam
Honorary Master
yeah painting is expensive and secutiry as well
but dont see the need to once a year painting given auckland park isnt by the sea as well
but dont see the need to once a year painting given auckland park isnt by the sea as well
SaiyanZ
Executive Member
High levies is one of the main reasons I've put purchasing property on hold for now. Since I live by myself, a cheap one bedroom is fine and rent is not too bad even in a good location. I'm only paying R6500pm for rent, 1km away from Sandton CBD and the levies for my apartment is almost R2k. Levies keep going up all the time too.
Painting once a year reeks of someone getting a backhand from the painting contractor....
Pho3nix
The Legend
But are you saving something for an eventual bond or emigration ?
SaiyanZ
Executive Member
Yeah, I'm putting away 70% of my net every month.
SauRoNZA
Honorary Master
That seems crazy at R8500 a month for a single bedroom place.
Surely places are available for R1,000,000 at a similar size maybe just a minor distance further away? I have no idea what the property market is like up there but a levy at 24% of the actual rental amount just seems very off course.
I mean R2000 in interest on an owned property should easily negate R2000 in levies pissed away.
SauRoNZA
Honorary Master
Yeah that does seem crazy.
Even at the coast it should do a good five years without issue.
SaiyanZ
Executive Member
No, I pay R6500 rent. The levies my landlord pays is almost R2k.
I.am.Sam
Honorary Master
i think he only pays the rent ...levies the owners pays for which is R2k
Lupus
Honorary Master
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The rent he's paying is under the bond you'd get for a place near Sandton, he's probably renting from someone who bought the place years ago and hasn't really raised the rent that much.
Being that close to Sandton that's about right on rent and probably levies as well.
Here's an example
https://www.property24.com/to-rent/sandton/sandton/gauteng/5864/105748244
jman
Expert Member
Sho that's good, what area is this?
SaiyanZ
Executive Member
Morningside on Rivonia. One of the first complexes going down Rivonia away from Sandton.
The owner did buy a while ago. Think most others in the complex are paying R8k+ so I got a good deal.
Pho3nix
The Legend
Holy sheeeet.. wtf do you do? SAP?
nice - yeah no point in buying at the moment, the rent is likely low because I heard there are too many new complexes in Sandton / Morningside at the moment?
Archer
Honorary Master
It's called being single
If I kept everything the same except my house and magically didn't have kids/wife I'd be able to put away... close to 40% of net (on top of what I already invest, which is ±28%). Probably more
SaiyanZ
Executive Member
Actuarial field but still got a few exams. I have very few expenses as my vehicle was paid off 5 years ago. So there's just:
- Rent
- Vehicle insurance
- Internet bill
- Cellphone bill
- Food
- Petrol (not much as my round trip to work and back is about 4km)
- ad hoc expenses, going out, etc.
So my total monthly expenditure rarely exceeds R12k per month. I just save the rest.
SauRoNZA
Honorary Master
Aaah okay.
Well that makes the levies even more mental, but does make sense for personal expenses.
What do you get for that 2k though?
SaiyanZ
Executive Member
There is 24hr security as well as a garden service which seems to be present on the property every day. There's lots of trees in the complex to maintain as well as a large swimming pool.