How much property you can afford by Salary in South Africa
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- เผยแพร่เมื่อ 28 ก.ย. 2024
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How much property you can afford by Salary in South Africa
Discover how much property you can afford on your salary in South Africa in this eye-opening video. We break down the factors that determine your affordability and provide valuable insights to help you make informed decisions when considering purchasing a house. Watch now to learn more!
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Dankie...
Pleasure my friend 🙏🏻🙏🏻
The tip of incorporating levies and taxes into your monthly is genius, I’ve been getting excited looking at “expensive properties” and affording it on paper but missing the levies, taxes and other regular calculations like transport.
Thanks for your comment. Absolutely, theres many costs involved in property ownership. You need to be aware of all the cost before jumping into it. Thanks for watching
Great education. If most agents and sellers were like this. Then it will help. There's some dishonesty in the property sale industry
I agree,
There is a small number of great agents out there. Most of them are just working for commission
I bought a house mid-covid when the interest rates were great, the house bond was really affordable and things were looking great. Come end of covid and the Russian war starting and the massive spike in interest rates and I was quickly paying 12k per month more than when I moved in just a month or two before. It became unaffordable real quick.
Thanks for sharing. The higher interest rate makes a huge difference. It's scary how much more you pay per month compared to covid times.
Hoe presies betaal mens die ding vinniger af?
Straight to the point, always insightful! Thanks Louis!!!
Thanks for watching 🙏🏻 Appreciate the support so much 💪🏻
Great tips brother. Helpful video. Thanks.
Thanks for watching 💪🏻💪🏻Appreciate the support 🙏🏻
Man thank you for sharing such important information. Majority of the people, including me don’t know this information
Its an absolute pleasure. Thanks for watching 💪🏻💪🏻
Dankie vir daai belangrike video. Baie interessant.
Pleasure, dankie vir die support 💪🏻💪🏻
I'm new here, I love your afrikaans accent 😅
Thanks my friend appreciate the possitve feedback. Im very afrikaans so I try my best 🤣🤣🤣
New here as well, first thing I noticed is the Afrikaans accent, I love that he is authenticity. Dit is 'n paar waardevolle kennis. Louis, Danko bhuti 🙏🙏
@@louisreynhardt I'm black and my surname is Hermanus, I don't even how to speak Afrikaans 😅 always appreciate a genuine accent, literally made me love my country's diversity without the bullshit.
this is very informative, thank you.
You are very welcome 🙏🏻
Love the tips , soon to buy my 1st property
Thats awesome. Well done my friend. Enjoy the process 👏🏻
Dont forget you also need life insurance and property insurance
Absolutely, thanks for adding it to the comments 💪🏻
May I ask why one needs life insurance?@@louisreynhardt
Thank you so much for this information.
Pleasure my friend, thanks so much for watching 💪🏻💪🏻
@@louisreynhardt I would like to see a video where you give us pros and cons of buying a property using business finances. Let me subscribe to your channel actually
@therealbongamkhize welcome to the channel my friend. Ill look into it In the meantime you can browse around in my property playlist 💪🏻
You put down 24000 for monthly salary which is top 10% and you say you need a loan for 5500 which is top 50% to pay 750000 rand, a very small amount in Australian standards. It shows how poor most people are in South Africa.
Great job
Thanks for the positive feedback 🙏🏻
Recently registered a new company. Want to buy property under company name,using bond. is this possible. Pls help
Yes it is. When using a new company though you will have to sign surety in you personal name.
Hi Louis, thanks for introducing tax Tim to your video.
Pleasure, such a useful website 💪🏻💪🏻
Western Cape prices are crazy. Can barely get a 3 bedroom 2 bathroom house for under R2.6mil to R3.0mil. We bought a 2 bedroom house in a secure estate two years ago for R1.8mil. It is now worth R2.2 mil minimum. Also the bond went up by R5k pm since we bought due to interest rates increasing. Though expensive we love our home and have made it super efficient. We don't use grid electricity and very little water. And it is absolutely secure with patrolling guards, cameras, and good neighbors. I work from home and leave the doors open most of the time without any worries. And this to me, is priceless.
Thanks so much for sharing. I can just imagine how much satisfaction it brings to live in comfort. The Western Cape market is so expensive. It's really difficult to find good deals for decent prices.
Great information
Thanks for watching 💪🏻 💪🏻
Am I the only one scared of debt & bonds are the worst kind. Buying cash is like a miracle
You are definitely not the only one. There is a common misconception that all debt is bad. But actually, consumer debt is bad. Debt overall can be good. Education is key. Thanks for sharing
Great video Louis!
Question: What are your thoughts on property rental management services such as Propr, etc? Are they worthwhile in terms of eliminating the "hassles" that come with renting out property?
Could be a good video idea if you haven't recorded one already.
Thank you so much for watching.
That's a great video idea. I will look into it and try to post about it asap.
Thanks again
Awesome! Looking forward to that.
Sorry is this based upon total houshold income forlets say myself and my spose, say we both wwanted to take out a home loan and gert pre approval and we have lets say 35K between us both.
So effectively whatever amount you receive alone or together, 30% of that gross amount can be used to calculate your affordability. So with R35k as a couple you can qualify for around R10 500 per month. Hope that answers your question 🙏🏻
@@louisreynhardt It does indeed, Thank you. Were not looking into buying something Sectional Title (Complex) to start with, looking for freestanding house around 1.1/1.2 Bar that we can renovate as our first place.
Such useful information ❤
Thanks for commenting and supporting the channel 💪🏻
Just found your channel. Great job. Can you tell me if it's possible for the rates price in Rosebank Cape town's houses which are almost the same size? To be way way different. Like difference to be thousands?
It can be, depending on the zoning. It's also based on the valuation of the property. It can be a couple of things.
7200 on a 20k salary. nah you cant afford it. theres still too many expenses there. youll practically be living hand to mouth.
Absolutely, thats why its really important to buy the rught type of properties. Not properties that will cost you money.
I managed to negotiate a rate of prime -1.40 on a bond repayment. What rate should i be aiming for?
Thats a great interest rate well done. 👍 I would be more than happy with it
Please explain more on buying a vacant land with a bond
Have you watch my vacant land video yet ?
Extremely powerful and informative 🙌🏼💯
Thank you so Much. Appreciate your comment 🙏🏻
🤜🤛
💪🏻💪🏻💪🏻
Great content Louis 👌
Thanks brother appreciate the positive feedback 🙏🏻
Hi. @louisreynhardt i wanted to ask how far can a person go with having two profile under one property? (Eg:Me & my spouse) also with FLISP
I would suggest going on to the Flisp website and filling in your details. It should give you an estimate of the coupon you can potentially receive.