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HOW TO CANCEL YOUR HOME LOAN

HOW TO CANCEL YOUR HOME LOAN

In certain cases, if you have paid off your home loan you may have the option to keep the bond account open, which will keep the loan facility available. The reason you would want to keep the facility open is to ensure that you have access to money if needed for household improvements or repairs. The advantage of keeping the account open is that you will not need to register another bond over t

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THE INS AND OUTS OF CAPITAL GAINS TAX

THE INS AND OUTS OF CAPITAL GAINS TAX

While most property transactions will not be subject to Capital Gains Tax (CGT), it is still important to understand the implications that it could have, especially if your home sells for more than the primary residence exclusion threshold. Forming part of an individual’s income tax, CGT is part of an ongoing reform programme which was introduced in South Africa in October 2001. The tax p

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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 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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SCHOOLS IMPACT HOME VALUES

SCHOOLS IMPACT HOME VALUES

Purchasing a property is a large financial commitment, and as such, there are several vital aspects that need to be considered before taking the final step towards homeownership. While price, the type of home and cost, are a few of the factors that require attention - the most crucial aspect to consider is location. Most buyers in today’s market know that location is important, but not ev

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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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TIPS FOR A STRESS-FREE MOVE

TIPS FOR A STRESS-FREE MOVE

It doesn’t matter whether it is across the road or the country, moving from one home to another can be a stressful experience. The fact is that most people will move at least once in their lives, and while it can be a relatively easy process for some, for the others the experience could be enough to scar them for life. So what’s the difference between a smooth moving experience and

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TIPS FOR PACKING AND MOVING QUICKLY

TIPS FOR PACKING AND MOVING QUICKLY

When it comes to moving, ideally you would want some lead time to be able to prepare and get everything in order. However, due to certain circumstances, time is not always a luxury that some people have. Here are a few tips to help maximise the time you have to move: Create a packing station A lot of time can be wasted by constantly trying to find items around the home, such as the scisso

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WAYS TO MAKE RENOVATING LESS STRESSFUL

WAYS TO MAKE RENOVATING LESS STRESSFUL

Renovating is an excellent way to update the look and feel of a home, while possibly adding to its value. However, the process can be just as stressful as moving to a new home. While the task can be daunting, there are several methods that can be used to reduce the potential stress caused by a renovation project. Regardless of whether it is updating the kitchen or adding another room, a renovat

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WHY IS HOMEOWNER’S INSURANCE SO IMPORTANT?

WHY IS HOMEOWNER’S INSURANCE SO IMPORTANT?

For most, their home will be the largest financial asset they will ever own, which is why homeowner’s insurance is imperative.  In most cases, the bank will take out the homeowner’s insurance on behalf of the new homeowner, and the monthly premium can be debited to the home loan account and paid with the monthly bond repayments. However, if the homeowner would prefer, they can

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