Make sure your property flip does not flop
During Season 4 of Modern Family, viewers sat in stitches watching as Cam and Claire tried their luck in house flipping, where a property is bought with the sole purpose of improving it and reselling it at a profit. Needless to say, things went wrong. What else would you expect from a sitcom? And what else would you expect from an episode titled “Flip Flop”? But maybe we can help […]
How much home can you get for your money
South Africans continue to tighten their belts as the pressure of rising interest rates, inflation, and other varying economic factors put household income under strain. This puts the affordability of national residential property under the spotlight. However, while (in nominal terms) national house price inflation remains positive (+1.9% in September 2022), the national average purchase […]
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 […]