Having ‘skin’ in the property game
Bigger deposits mean a smaller loan and a better interest rate Rising inflation and several interest rate hikes have many South Africans trying their best to keep their costs down where possible, and this has also translated into their homebuying behaviour. The Q2 ’22 oobarometer statistics, released by ooba, reveal lower-than-expected home price inflation from […]
What is a “transaction” for transfer duty purposes?
According to reports, given current low interest rates, there have been an uptick in property transactions. Therefore, it is worthwhile considering the potential impact of any transfer duty taxes to be imposed on such transactions. The Transfer Duty Act imposes a transfer duty on the value of any property acquired by any person by way of a transaction, or in any […]
Deducting bond interest when using an access bond facility
You can use a loan re-advance against your house to purchase a rental property, and get the interest allowed as a tax deduction – it just needs to be structured properly One of the questions most frequently asked is whether interest on a bond raised to purchase a rental property is deductible against the rent […]
Landlord and tenant inspections
The Rental Housing Amendment Act, section 4B (4) and (5) determines that the tenant and property owner must jointly, before the tenant moves into the dwelling, inspect the dwelling for any defect and damage. It further determines that the same procedure must be followed when the tenant vacates the property, and this inspection must be […]
Transfer duty – no surprises – Part 2
The Transfer Duty Act 40/1949 (“the Act”) states that transfer duty (duty) is to be levied on any property acquired by any person by way of a transaction. The Act is clear as to whom and by when the duty is to be paid. It states that the duty shall be payable by the person […]
Fireproofing your home against wildfires
With the recent fire on Table Mountain razing a Cabinet minister’s home as well as the UCT Jagger Library (which housed historic documents and books) and Mostert’s Mill (the oldest surviving windmill in SA), the devastation that a wildfire can cause has been brought to the forefront of many property owners’ attention. This comes just 4 years after the devastating wildfires that spread over Knysna […]
Real estate – the smart investment
Buying real estate is more than finding the right home or location for your business – owning property is an investment that holds more benefits than you might know. Income Predictability While interest rates may alter mortgage repayments at first, real estate offers a somewhat constant financial investment. Once home loans are repaid in full, real estate offers the owner a constant income that does […]
Revamp your rental home
Living in a rented apartment doesn’t mean you can’t make your living space your own. There are many ways in which you can make your rented property feel more like home, and it all begins with adding a bit of your own individuality and character to the aesthetics of your home. Switch out a light fixture Chances are that you’re […]
How many animals are allowed on my property?
During the lockdown, many people were fortunate enough to be quarantined with their families and friends, while others got the short end of the stick and had to go full Tom Hanks and create a Wilson of their own to get some company. But somewhere in the middle there were those who had their cuddly counterparts to keep the […]
How to make a single income household work
The COVID-19 pandemic has left many households questioning the future of their families, especially when it comes to living arrangements when one of the family’s sources of income have fallen away. Single income homes are no longer in vogue as families struggle to keep up with the financial demands of modern living. Having one parent stay at home to raise a […]