Hi there and welcome to another Steyn-Mail addition.
Wow, we are so happy for the BOKKE but also glad the Rugby World Cup over. Those 9pm games are tough, but boy did we have fun watching the BOKKE beat the French, England and then New Zealand in the final. Who would have thought that they would win their last three games by only one point each to take the 2023 title? That must be one for the books. Unbelievable …. Well done BOKKE.
Here’s some interesting Rugby World Cup history info:
1. The first Rugby World Cup was held in 1987.
2. SA was banned from competing in the 1987 and 1991 due to a sporting boycott.
3. In 1995 we returned and won.
4. In 1999 we made the semi-finals.
5. In 2003 we made the quarter-finals.
6. In 2007 we won.
7. In 2011 we made the quarter-finals.
8. In 2015 we made the semi-finals.
9. In 2019 we won.
10. In 2023 we won.
11. SA have only played in 4 finals since 1995 and won all of them.
12. NZ have played in 5 finales and won 3.
For more interesting Rugby World Cup Stats …… click here:
Let’s get back to business …. BONDS and HOMELOANS
We are very fortunate to have Payneless Bonds as our “Go-To” bond originator. They have been assisting our clients for years and really go out of their way to try and get the best possible deal for our buyers. We would recommend that buyers make use of a bond originator instead of approaching the various banks directly. Applying for a home loan can be frustrating and tricky.
Most Offer to Purchase agreements will give the buyer between 14 to 28 days to get finance approval. This doesn’t leave a lot of time for making mistakes and submitting incorrect or insufficient information.
Speaking to a Home Loan specialist regarding affordability before you start shopping around is also very important. They can assist with a pre-qualification, giving you a fairly accurate assessment of what you will qualify for. You can then match that against what you want to spend taking all the associated costs into consideration. This way you will be able to narrow down your house-hunting to only include properties in your specific price range.
Bond Repayment Calculation:
· Property Purchase Amount: R 1 500 000
· Deposit Amount: R 0
· Loan Term: (10/20/30years): 20 years
· Interest rate: 11.75% (Which is the prime rate now)
· Monthly Payment: R 16 255.61pm
· Should you pay an extra R 500 per month into the bond, your term will be reduced to 17.89 years and saving you R 303 749.00.
For any queries or assistance regarding home loans please contact Sanette and her team on 087 151 4712 or email info@paynelessbonds.co.za …… www.paynelessbonds.co.za
RENT or BUY?
While property sales are a bit slow in the current market, rentals are quite busy. The higher demand in rentals can be caused by many factors. Some people might be thinking of immigrating and don’t want to be bogged down with property in South Africa. Some people are just starting out, unsure about work and where they might need to relocate to, to get work so renting is a better option then. When it comes credit scores, a lot of people don’t qualify for home loans and can therefore only rent. We also get many investors looking for properties where the rental income is good with low overheads to buy as a long-term investment.
In our current market, you can rent a R 1 500 000 House or Townhouse for less than it would cost you if you bought it with a 100% bond. There are also additional costs to consider such as levies, rates & taxes, sewerage charges, maintenance, security etc. which drives up the cost of owning property.
We currently have 71 active rental properties which we manage on behalf of landlords. Most of these properties are Sectional Title Townhouses or Apartments within the Wilgeheuwel, Honeydew Ridge, Honeydew Manor, Radiokop, Allen’s Nek areas. Here’s some stats:
· Monthly rentals from R 5 775pm for a 2 bed 1 bath apartment in Randburg to
R 16 000 for a 4-bedroom house in Little Falls.
· Ave size is 3 beds and 2 baths.
· Ave rental amount +/- R 9400pm.
· Ave water usage +/- R 250pm from the one’s that we bill.
· Ave electricity usage +/- R 950pm from the one’s that we bill.
Currently in Wilgeheuwel there are 288 residential properties FOR SALE between R 470 000 and R 3 900 000. Ave asking price is R 1 070 000 and Ave Sales price is R 950 000 with 236 Sales so far this year compared to 772 in 2022 and 451 in 2021 … quite a big drop.
There are currently 107 RENTAL properties available between R 5 700pm for a 2 bed 1 bath apartment up to R 14 750pm for a 3 bed 2 bath Duplex Townhouse with solar backup power system, double garage, double car port etc.
For ANY property related queries, please feel free to contact us directly or send us a WhatsApp message or email. We are always looking for stock and would love to help you to sell. Or out stock can be viewed at www.steynrealty.co.za.
Regards
Marnus & Juanita
072 264 7806 / 083 604 1231
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