Mortgages: Fixed-rate mortgages
Fixed-rate mortgages are common mortgages for homebuyers because the monthly payments are stable. The interest rate at which you take out the mortgage will be the same interest rate you pay for the life of the loan, regardless of the lifespan of the loan.
Adjustable-rate mortgages
Adjustable-rate mortgages (ARMs) usually start with a lower interest rate and a lower monthly payment, making them rather popular. The interest rate can change during the life of the loan which means that your monthly payment can increase or decrease.
Why it is wise to repay your bond as fast as possible
Most homeowners’ annual earnings are increasing year-on-year ahead of the current inflation rate, due to improved conditions of South Africa’s economy.
Middle class savings should be rising by about 10% per year, but instead, consumer spending is rising, which in turn is pushing up inflation. To achieve greater savings, homeowners should pay off their bonds at a faster rate. Unfortunately, most bondholders don’t realise what significant savings increasing their monthly payments slightly above the minimal required repayment level can make. Bondholders will also be able to invest in a second or third property by doing so.
Leloko Eco-Estate plots selling well
When it comes to waterfront living, people don’t mind paying an arm and a leg for properties, which is why selling plots at Leloko Eco-Estate in Hartebeespoort Dam is a piece of cake.
Properties with access to water experience more rapid growth due to limited availability and they offer great benefits to the residents. Leloko in Hartebeespoort Dam is the only eco-estate with water frontage, which it also owns. Price is not an option, it is merely a question of who wants it most. If two buyers want the same waterfront property, only one thing determines the price, the one who can put the best offer on the table, determined by his desire to own the property.
Adjustable rate mortgage can save you money
When buying a home, it is best to try and get an adjustable rate mortgage for lower payments and less paid in interest while you live there.
According to the National Association of Realtors, most people move every 5 – 7 years, which means that if you are buying a house now, chances are you could be moving in as little as 5 years from now.
Is Parys is becoming the next Camps Bay?
With designers flocking to Parys and homeowners standing queue to invest in holiday homes in this World Heritage Site, Parys is attracting a lot of attention these days.
Parys is known for its antiques and outdoor activities and is situated in the middle of a 200km radius where a high percentage of the South African population lives. It is the perfect getaway for relaxing, fly-fishing, golfing and it is well connected to major towns and cities via a good road infrastructure.