This video explains some of the costs associated of buying a house in South Africa. The example used is a R2200 000 house. In this example the bank requires a R200 000 deposit, thus a R2000 000 loan is taken out over a 20 year period with a 9.75% interest rate. I go through the Bond and Transfer costs and at the end I provide a summary of what the total cost of purchase and monthly expense will be to you.
More information on the sliding scale of transfer costs on property in South Africa can be found on https://www.sars.gov.za/Tax-Rates/Pages/Transfer-Duty.aspx
More information on the sliding scale of transfer costs on property in South Africa can be found on https://www.sars.gov.za/Tax-Rates/Pages/Transfer-Duty.aspx
Thank you for watching. Please like and subscribe