Most Recent Living Articles
GOOD NEWS FOR HOMEOWNERS: INTEREST RATES REMAIN UNCHANGED
The Monetary Policy Committee (MPC) announced today that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. This comes as some much-needed relief as many debt holders are struggling to keep up with repayments, even at the current rates. Given that inflation increased to 5,4% in September from 4,8% in August, it is understandable that interest rates
Read moreInstalling Solar Power – what you need to know
With the international trend towards renewable energy, folk are looking to solar power as an alternative to plugging into the main grid — especially in South Africa. If you are thinking of doing the same, then here’s what you’ll need to know… What is solar power? Solar effectively means from the sun, so solar power systems harness the light and heat energy that comes
Read moreRE/MAX NATIONAL HOUSING REPORT Q3 2023
Market Adjusts to Higher Interest Rates The third quarter of 2023 produced a mixed bag of results for the local housing market. While overall performance is down year-on-year, there is minor improvement on the previous quarter’s results. According to Lightstone Property data, as at 04 October 2023, the number of transfers (both bonded and unbonded) recorded at the Deeds Office for the
Read moreInstalling alternative energy is about more than load-shedding
Installing alternative energy solutions is about more than managing the fall-out from load-shedding: by reducing our dependence on fossil fuels, we’re also doing our bit for the planet. In this article, we explore various options from which homeowners can choose and at the same time, potentially improve both your quality of life and the value of your property. What to consider when invest
Read moreINTEREST RATES LEFT UNCHANGED AT LATEST MPC MEETING
Debt holders can let out a sigh of relief as the Monetary Policy Committee (MPC) announced today that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. With inflation dropping to 4,7% in July, most economists predicted that interest rates would hold steady at this meeting. “The decision to keep interest rates stable is a reassuring outcome t
Read moreThe real cost of long-distance moving in South Africa
A long-distance move is a complicated exercise, no matter whether you’re relocating for that dream job, retiring, or living out your dream of moving to the countryside. Probably the most critical of these complications is what it will cost you to make the move. To help you formulate a budget and a foolproof moving plan, we’ll take you through the possible charges for a long-distance mo
Read moreThe Basics of Capital Gains Tax for Homeowners
When the selling price of the home is more than the price you initially paid for the home, you will most likely have to pay capital gains on that profit. What is capital gains? Well, simply put, Capital Gains Tax (or CGT) is a tax on the profit (income) you make when you “dispose” of a capital asset like a house. “Dispose” is a technical term for the transfer of ownership w
Read moreDOWNSIZING YOUR HOME: THE BIG DECISION TO GO SMALL
Tiny homes are a growing trend – internationally and in South Africa. Although downsizing to a smaller house or apartment may not appeal to everyone, there may well come a time when downsizing just makes more sense. Maintaining a largely underutilised property doesn’t always make financial sense if the family has shrunk and the children have fled the nest. With the increasing cost of l
Read moreINTEREST RATES FINALLY STABILIZE
Some good news for debt holders as the Monetary Policy Committee (MPC) announced that interest rates will remain stable at 8.25% (repo rate), leaving the prime lending rate at 11.75%. This ends the consecutive hiking cycle that started in November 2021. Pleased by this announcement, Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett says that an increase might have been in t
Read morePaying Off Your Home Loan Faster: a Guide for Homeowners
Are you interested in exploring the potential for paying off your home loan early? We’ve prepared a set of strategies to help you pay off your home loan faster... Why should you pay off your home loan faster? Owning a property is a significant milestone, but the long-term commitment of a loan can be daunting. You can potentially eliminate years’ worth of debt by paying even a lit
Read moreCONSUMERS FEEL THE PINCH AS INTEREST RATES RISE AGAIN
Debt holders are sure to feel the pinch following the latest announcement by the Monetary Policy Committee (MPC) to increase the repo rate by a further 50 basis points to 8.25%, leaving the prime lending rate at 11.75% – the highest it has been since 2009. Unsurprised by this announcement, Regional Director and CEO of RE/MAX of Southern Africa Adrian Goslett says that managing debt will b
Read moreWorking out the interest on my home loan
In South Africa, interest rates can fluctuate from time to time. It is important to know what this means for your monthly expenses, especially for the big-ticket items like home loans, vehicle finance agreements and credit cards. What is interest? Before we look at how to calculate the interest you pay on a loan, let’s understand what “interest” means. In general terms,
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