I have a problem with two numbers here, the interest charged on the home loan and the inflation. First off, these rates are likely not going to be the same. If the bank chargers a higher rate than that assumed you’re not making that money bank. Two, inflation is not the same as house appreciation. Some homes/apartments appreciate very little and it’s really a gamble, I say use maybe 1% appreciation yearly, not 4.5%. I will look for the article and get a better idea of what the assumptions were. We haven’t even taken into account the accumulated value of the levies and taxes, which also I hike up over time, or the actual risk of having a consistent income for 20 years, lose than income, your house is gone, and your money.
Interest is time value of money (its a price they charge you for their money) Tip- if you dont want to pay too much interest, then pay more than the required monthly instalments, for example, if you pay 20% more on your monthly instalments from day one, you can pay off your bond in 13 years. ie, instead of paying R1000, pay 1200.
I was hoping this video would highlight the many other diffent ways in which one can save on paying interest on a property that we don't already know. Everybody knows one needs to pay extra every month. We have been told sbt that one so many times, so i was hoping for extra tips, something new that we haven't heard much about.
20 years of my life, paying this asset, haibo, because of interest?? Because of the risk they add interest? Nah boo. The same money we borrow the government to in bonds is the same money we are paying over 8% interest akere??
To avoid the bank to “hamba with u ngoLine” if u can afford to pay more pay more eg if ur instalment is 8500pm and it happens u hv extra 4000 n it doesn’t hurt ur pocket make that instalment 12500pm , then make an arrangement with a bank that all those extra 4k u can have access to , u can finish ur house in 10-14years n save a lot of money in along run
i hate south African property market.after u pay then loan its value its up fine,then when u sell lmaooo yoh yoh yoh jerr selling is a hustle around here,people end up bearly breaking even from selling
the thing i like and love about this product is it offers free education which people buy at college's and how lucky we are to reeducated about financial education on different fields of business. after watching this program we are equipped with knowledge thank you so much.
Different Lenses, Why do they Call it Real Estate? IT IS THE ONLY ESTATE THAT IS REAL. It could not be clear than this. Think about if Someone pay that interest for you it essentially free, investments opportunity. Rich Dad and Bigger pocket says it, infinite returns.
Wow. So informative sis. Just this morning I was stressing over paying so much money on my home loan every month ... thinking of soo many years to come even:(, just ranting to my mom about how I think this home loan system is an absolute scam and a downfall for the black child. It is so refreshing to hear you talk about its perks and rewards. Thank you so much sis. This changed my entire view on the topic.
Most millionaires en billionaires do not view property ( your home) as an investment because you don't get Anything in return. You pay monthly installments, pay rates and levies en general maintenance on the property from your own income. So you losing but not gaining anything.
@@blessyJoyous rental property. They say a home is a liability bkoz yu have to pay bills such as rates en levies. Whereas rental properties are an asset bkoz you make rent money from them every month.
Hi Nicolette 🥳. I’m doing some market research on people earning who’s net worth is 1million and above and I’d love to interview you on your life choices. Please let me know how can do that?
Hey Nic? I'm on a process of buying a house,i am currently renting a home and i also rented out some part of it and making an income out of it. I have a full time job with a good credit score,but the amount that i want to be approved for is too high for my job salary,so i need to know if the bank will consider the rental income that I'm making out of a property that is not mine? Pls help with advise/information
1. If your landlord approved in writing and you have a lease agreement and 2.all that income is reflected on your cheque account 3. Your Salary + Rental income qualify you for the loan amount Then YES!!! I suggest you ask to speak to you bank's Bond Originator Hear is a tip - if you have a pension fund , speak to your pension fund first and ask if they can back your bond, this can reduce your interest rate therefore your monthly instalments
Just in time ,I am in processing of buying a home,already got the home loan and busy with the next steps.At some point I got overwhelmed I thought to myself at this point am I even making the right decision or am I just trapping myself to a 25years commitment.Is it even worth it,what if I like a different area and wanna move to it permanently.
What's often that's not talked about is when is the right time to get a home loan. The right time is when you can afford the monthly repayment plus the interest. By "home" in this context is a house that you're actually going to live in for the next 15 to 20 + years. So if your monthly repayment is R20000 and the interest is R8000, then you need to afford R28000 a month without affecting your lifestyle, saving, and investment habits. The aim is to ensure quick repayments and to reduce the amount you actually donate to the bank in the form of interest. What people don't know is that the largest money-making instrument by banks is property loans! Don't be a victim of this scam!
The best thing is to save up for a deposit ,and pay off the loan as quickly as you can to decrease the amount you pay in interest
I have a problem with two numbers here, the interest charged on the home loan and the inflation. First off, these rates are likely not going to be the same. If the bank chargers a higher rate than that assumed you’re not making that money bank. Two, inflation is not the same as house appreciation. Some homes/apartments appreciate very little and it’s really a gamble, I say use maybe 1% appreciation yearly, not 4.5%. I will look for the article and get a better idea of what the assumptions were. We haven’t even taken into account the accumulated value of the levies and taxes, which also I hike up over time, or the actual risk of having a consistent income for 20 years, lose than income, your house is gone, and your money.
Interest is time value of money (its a price they charge you for their money)
Tip- if you dont want to pay too much interest, then pay more than the required monthly instalments, for example, if you pay 20% more on your monthly instalments from day one, you can pay off your bond in 13 years. ie, instead of paying R1000, pay 1200.
I was hoping this video would highlight the many other diffent ways in which one can save on paying interest on a property that we don't already know. Everybody knows one needs to pay extra every month. We have been told sbt that one so many times, so i was hoping for extra tips, something new that we haven't heard much about.
IT IS A SCAM. They don't even give us as much interest from our investments.
20 years of my life, paying this asset, haibo, because of interest?? Because of the risk they add interest? Nah boo. The same money we borrow the government to in bonds is the same money we are paying over 8% interest akere??
To me it looks like the bank is benefiting as your value goes up, so to me it is a SCAM...BAHAMBA NGAWE NGO LINE LABA...
To avoid the bank to “hamba with u ngoLine” if u can afford to pay more pay more eg if ur instalment is 8500pm and it happens u hv extra 4000 n it doesn’t hurt ur pocket make that instalment 12500pm , then make an arrangement with a bank that all those extra 4k u can have access to , u can finish ur house in 10-14years n save a lot of money in along run
i hate south African property market.after u pay then loan its value its up fine,then when u sell lmaooo yoh yoh yoh jerr selling is a hustle around here,people end up bearly breaking even from selling
Thts why the say pay extra everymonth. 500 extra a month can save 5years or so worth of interest.
Mr Joy 😂
@@traderprins ah boi,why onyameletse ko whatsapp nja yaka?
@@mjayaurum9126 I'm done with social media Morena 😂
Thank you for this information. My finances have been in check, all thanks to you.
My love for you❤️. I am working for the bank and the information you share is always so accurate.
Thank you 😊
the thing i like and love about this product is it offers free education which people buy at college's and how lucky we are to reeducated about financial education on different fields of business. after watching this program we are equipped with knowledge thank you so much.
Different Lenses, Why do they Call it Real Estate? IT IS THE ONLY ESTATE THAT IS REAL. It could not be clear than this. Think about if Someone pay that interest for you it essentially free, investments opportunity. Rich Dad and Bigger pocket says it, infinite returns.
Eish if you’re contract employee you don’t qualify for a home loan 😓
Why not?
Wow. So informative sis. Just this morning I was stressing over paying so much money on my home loan every month ... thinking of soo many years to come even:(, just ranting to my mom about how I think this home loan system is an absolute scam and a downfall for the black child. It is so refreshing to hear you talk about its perks and rewards. Thank you so much sis. This changed my entire view on the topic.
Mmh! I would have never looked at my home loan like this. Thank you
@Nicolette ㊉①④①④③⑥⑦⑦②⓪⑦ isibindi esingaka usithathaphi?
@@thevanifamily 😂😂😂 Bathong, the liver!!!
Thank you very much for changing my view on a bond, you are making miracles 🙏💯
We inside yoh the way you have helped me with my finances weeeh ngiyabonga
Most millionaires en billionaires do not view property ( your home) as an investment because you don't get Anything in return. You pay monthly installments, pay rates and levies en general maintenance on the property from your own income.
So you losing but not gaining anything.
So what do they see as an investment?
So who are the people building apartments and town houses?
@@senzizwane8635 I'm talking abt millionaires who buy rental property jot those who build them
@@blessyJoyous rental property. They say a home is a liability bkoz yu have to pay bills such as rates en levies. Whereas rental properties are an asset bkoz you make rent money from them every month.
You are such a good teacher ❤
Great vid! Puts everything into perspective
Thank you for explaining ❤️
Tanx 4 the video...u hv motivated me 2 buy the house...
Hi Nicolette 🥳.
I’m doing some market research on people earning who’s net worth is 1million and above and I’d love to interview you on your life choices. Please let me know how can do that?
I think she usually encourages people to email her
Thank you so much. This is educational 🙏🏿🔥 home loan vs car loan, now I understand the difference. Thank you
Is it the land or the house that appreciate?
Love the teaching. Thanks for the insight. Can you please teach about equity or refinancing.
You are everything 😭
Always enjoy your helpful videos and the time you take to explain everything 🙏🤗💕
its "lending" you our money.
Notification gang ❤️
Hi... how can i make my home loan payment fixed?
Hi nicolette
I know this out of topic but please my landlord charges me vat on my rental fee monthly is that lawful, should I be paying it
No VAT can be charged on residential property (rentals). The lease of a dwelling is an exempt supply.
Thanks because am confused
@@missk649 lol your confused cause they where transparent lol most already included it in the rent n dont speak of it
Thanks, Coco, you are such an incredible woman.
Hey Nic?
I'm on a process of buying a house,i am currently renting a home and i also rented out some part of it and making an income out of it. I have a full time job with a good credit score,but the amount that i want to be approved for is too high for my job salary,so i need to know if the bank will consider the rental income that I'm making out of a property that is not mine? Pls help with advise/information
1. If your landlord approved in writing and you have a lease agreement and
2.all that income is reflected on your cheque account
3. Your Salary + Rental income qualify you for the loan amount
Then YES!!!
I suggest you ask to speak to you bank's Bond Originator
Hear is a tip - if you have a pension fund , speak to your pension fund first and ask if they can back your bond, this can reduce your interest rate therefore your monthly instalments
Nice make up financial bunny. In fact, you are beautiful.
Hi Nicolette, How do i get an e-book version of your book?
We learn everyday.
Enkosi maan Nicolette.
Thank you so much for this video. 👌🏽
Wow thanks sis❤.
Thank you Sis Nicollette
Insightful. Thank you
Hi Nicolette. Is there such a thing as rental insurance? Are there companies you can recommend if maybe there are reliable ones?
Yes there is
Please make a video on them. They're hardly advertised, I've been doubting if there's any reliable ones
Just in time ,I am in processing of buying a home,already got the home loan and busy with the next steps.At some point I got overwhelmed I thought to myself at this point am I even making the right decision or am I just trapping myself to a 25years commitment.Is it even worth it,what if I like a different area and wanna move to it permanently.
What's often that's not talked about is when is the right time to get a home loan. The right time is when you can afford the monthly repayment plus the interest. By "home" in this context is a house that you're actually going to live in for the next 15 to 20 + years. So if your monthly repayment is R20000 and the interest is R8000, then you need to afford R28000 a month without affecting your lifestyle, saving, and investment habits. The aim is to ensure quick repayments and to reduce the amount you actually donate to the bank in the form of interest. What people don't know is that the largest money-making instrument by banks is property loans! Don't be a victim of this scam!
You and I are in the same boat. I went for what looks like a low repayment but I am having anxiety already thinking about a 20 year commitment.
Beautiful stuff
Bhhh
❤🙏💯
the show always keeps us informed and updated now we do understand the value of money. please keep educating us my sister