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IS SWITCHING YOUR HOME LOAN WORTHWHILE?

IS SWITCHING YOUR HOME LOAN WORTHWHILE?

During the property boom years of 2006 and 2007, switching home loans from one bank to another was a fairly common practice among homeowners in South Africa. However, since banks tightened their lending criteria, it was not as easy for homeowners to switch and the trend lost some traction in the years that followed 2007. While not as common as it once was, there could be some benefit to switchi...

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KEEPING YOUR HOME FLU FREE IN THE COLDER MONTHS

KEEPING YOUR HOME FLU FREE IN THE COLDER MONTHS

As the weather turns and gets colder, many will be focusing their attention on preparing for winter and staying germ-free during the flu season. Apart from getting vaccinated from the flu virus and the time-honoured tactic of washing hands well and often, there are other ways that homeowners can keep their home from serving as a breeding ground for colds and flu. Here are a few simples tips to...

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LEAVE YOURSELF SOME BREATHING ROOM

LEAVE YOURSELF SOME BREATHING ROOM

Considering buying your first property? If so, make sure you have a clear idea of what you can comfortably afford on your home repayment each month, before taking the initial steps towards ownership. While it seems like the current interest rate hiking cycle is at an end, it does not mean that you won’t have to deal with rate hikes in the future. For this reason, an allowance has to be ma...

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MAINTAINING YOUR HOME

MAINTAINING YOUR HOME

Buying a property is an incredible milestone to achieve and an exciting time, especially if it's your first home. However, there are several new responsibilities that come with the title homeowner.  Apart from the financial commitment, there are also some other necessary home maintenance responsibilities that need to be addressed on a regular basis. It is far better to ensure that ever...

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MOVING HOMES – PAY ATTENTION TO THE DETAILS

MOVING HOMES – PAY ATTENTION TO THE DETAILS

Although packing and unpacking boxes is a major element to moving homes, it is certainly not the only factor that needs to be considered when changing your address. When it comes to moving homes, there are also a few legal matters that will require attention. Each situation will be different, and as such there will be unique aspects that should be taken into account. For example, if you were re...

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NEGATIVE ASPECTS THAT INFLUENCE PROPERTY VALUES

NEGATIVE ASPECTS THAT INFLUENCE PROPERTY VALUES

Research reveals that it only takes a prospective buyer a few minutes to decide whether they like a home or not, which is why it is essential that the home makes an excellent first impression. While there are certain things you can do to ensure that your home is in its best possible condition before it is listed on the market, unfortunately, there are elements which are beyond your control that...

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PAINT AND PREPARE BEFORE YOU MOVE IN

PAINT AND PREPARE BEFORE YOU MOVE IN

Every first-time homebuyer wants to add their personal touch to their property and turn their new house into a home. A great way to do this at a reasonably low cost is by giving the property a fresh coat of paint. A new coat of paint will give the home an updated, refreshed look and it is a fun way for the new homeowner to put their personal stamp on the home.  A new coat of paint will make t...

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PROPERTY – ASSET OR EXPENSE?

PROPERTY – ASSET OR EXPENSE?

Is property an asset or expense? At first glance, the question seems to be simple to answer, of course, property is an asset. However, there is more to it than initially meets the eye. When looking at a primary residence, whether the home is an asset will be determined by whether the value of the property is appreciating or depreciating. There are several factors that will have an influence on...

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PROPERTY VALUE AFFECTS RATES AND TAXES

PROPERTY VALUE AFFECTS RATES AND TAXES

Each month homeowners receive a bill for the rates and taxes applicable to their property, but what are these municipal rates used for and how is the amount worked out? Municipal property rates are financial liabilities that owners of immovable property are required to pay monthly for basic services that their local municipality provide. Some of these services include maintenance of roads, stre...

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PROPERTY, IS IT A TRUE ASSET?

PROPERTY, IS IT A TRUE ASSET?

If you read the dictionary definition of the word ‘asset’, it would tell you that it is any item of economic value owned by an individual or corporation, especially that which could be converted to cash. Well, that may be the definition of the word, but what is a true asset? Is it something that sits on the bottom line of your balance sheet or is it something more?...

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SAFE AS HOUSES

SAFE AS HOUSES

South Africa is possibly one of the most beautiful countries in the world, with some amazing things on offer such as great weather, oceans, mountains, forests and everything in between. As a nation, we are truly blessed to call this country our home. However, there is one aspect that unfortunately has many South Africans up in arms - the fact that so many people living in this country have been...

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SHOULD EQUITY IN THE BOND BE USED FOR DEBT?

SHOULD EQUITY IN THE BOND BE USED FOR DEBT?

Often car loans and credit cards accrue interest at a much higher rate than a home loan, which is why many people decide to take equity out of their home loan to pay off their other debts. Focusing on paying off debt with the highest interest rate is a very good financial strategy to implement, but is using a home loan to do it the best idea? The answer to that question largely depends on the t...

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