Moving into a new home

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Codebreaker007

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Hi guys
I'm moving into a new home soon. Just wanted clarification on a few things

I am currently on post paid water and electricity and the house I'm moving into is post paid as well

- How do I go about getting the municipality to come and do a final reading? I've tried emailing the address that's on the statement but I get a return mail saying undelivered

- Whats the best way to change the new one w/e bill onto my name?
Old owner cancel and then I reactivate or old owner just transfer onto my name?

PS: Ethekwini Municipality

Any other tips welcome with regards to moving into a new home
Thanks
 
The_Ogre said:
That's the transferring attorney's job. That's what you pay them for.
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Snyper564 said:
This.

It also takes some time for them to transfer everything so save three months rates etc for when the bill pops up
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Might depend on how the specific metro does things. City of Joburg, when I bought ten years ago, I had to go in and open my account. When I sold last year, I had to go in and claim my partial refund after prepaying three months of rates.

So we probably have to wait and hear from someone who just bought in Ethekwini.
 
3WA said:
Might depend on how the specific metro does things. City of Joburg, when I bought ten years ago, I had to go in and open my account. When I sold last year, I had to go in and claim my partial refund after prepaying three months of rates.

So we probably have to wait and hear from someone who just bought in Ethekwini.
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Is that because you had to or because your lawyer ****ed up?

More often than not it seems people jump the gun and break the process…usually the seller making it kak for the buyer because they don’t leave it to the lawyers.
 
The biggest scam is paying some to open the CoJ account for you, if you are in Joburg.
Once transfer done wait 6 weeks I think it is, for CoJ to be updated then go in a open account.
The services that do it for you will say its nightmare, but I go there with all my paper work at 7:30 one morning out by 8:20 all set up no problem.

Also if you a CityPower customer push to move to Pre paid, you save 700 odd on the Network Charge.
 
SauRoNZA said:
Is that because you had to or because your lawyer ****ed up?
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Because I had to. I might be out of date on the buying side, but on the selling side, I've never heard of attorneys that handle the closure of the rates account for you. There are plenty of third parties you can hire to do it.
 
3WA said:
Because I had to. I might be out of date on the buying side, but on the selling side, I've never heard of attorneys that handle the closure of the rates account for you. There are plenty of third parties you can hire to do it.
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Unrelated to the question but why are you selling and not buying?
 
Codebreaker007 said:
Unrelated to the question but why are you selling and not buying?
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I am in Joburg for the foreseeable future, and I am betting that sticking my money into a good ETF will outperform the Joburg property market. So I'm taking the money that I would spend on home ownership and sticking it into an ETF. If I'm right, I get a nicer house in ten years, and if I'm wrong, I have to go live in some cheap dorpie in the Northern Cape.

In the meantime, I'm renting well below my means and waiting it out.
 
3WA said:
I am in Joburg for the foreseeable future, and I am betting that sticking my money into a good ETF will outperform the Joburg property market. So I'm taking the money that I would spend on home ownership and sticking it into an ETF. If I'm right, I get a nicer house in ten years, and if I'm wrong, I have to go live in some cheap dorpie in the Northern Cape.

In the meantime, I'm renting well below my means and waiting it out.
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Wow the sheer amount of risk this involves is simply not worth it.

Housing market can double.

ETF can halve in final year.

You can rather do a a fixed deposit in this case.

Althernatively do a split 50% low risk 50% high risk etc.
 
3WA said:
I am in Joburg for the foreseeable future, and I am betting that sticking my money into a good ETF will outperform the Joburg property market. So I'm taking the money that I would spend on home ownership and sticking it into an ETF. If I'm right, I get a nicer house in ten years, and if I'm wrong, I have to go live in some cheap dorpie in the Northern Cape.

In the meantime, I'm renting well below my means and waiting it out.
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Think its a good move. JSE stocks usually give a return of between 10 - 15% over a long period and 10 years is long enough. ETF also way more liquid.

I currently have a fixed deposit but I want to buy a house in the next year, long term stick to stocks/Etfs.
 
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Snyper564 said:
Wow the sheer amount of risk this involves is simply not worth it.

Housing market can double.

ETF can halve in final year.

You can rather do a a fixed deposit in this case.

Althernatively do a split 50% low risk 50% high risk etc.
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I think people overestimate how much housing really increases after correcting for inflation, and they also overestimate how risky the stock market is over the long term if you’re averaging in.
 
3WA said:
I think people overestimate how much housing really increases after correcting for inflation, and they also overestimate how risky the stock market is over the long term if you’re averaging in.
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Agreed housing is very dependant on area and supply / demand. I had a flat in Hatfiled and valued stayed the same for six years, also wan't able to pass on the 6-7% yearly rental increases (developers advise/promise) and basically sold for exactly the price I bought. Rent was good but probably would have made more in the stock market considering all the fees involved with real estate.
 
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3WA said:
Because I had to. I might be out of date on the buying side, but on the selling side, I've never heard of attorneys that handle the closure of the rates account for you. There are plenty of third parties you can hire to do it.
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Well you aren’t meant to close it, that’s half the **** up usually.

It gets wrapped up and then limbo’s until transfer and then switched to the new owner.
 
For Ethekwini to do anything on rates,elec & water accounts is as problematic as trying to buy an airplane ticket to the moon. They don't get anything right. My electricity meter has not been read since last reading of November,2022..For the past 2 months i've registered to submit meter readings and uploading pics of same to no avail. They process accounts based on estimated readings. My consumption has dropped considerably due to a decrease in family size & switching the geyser on just to warm sufficient water. I continue to pay & am building a surplus & am surely now in a position where the municipality owes me. what do i do.
 
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