"The costs involved in buying a property in South Africa often surprise ... " |
The costs involved in buying a property in South Africa
often surprise those new to the process, and can add a significant
amount to the final price that you will pay.
The two main areas of cost are, firstly, those associated
with the legal transfer of the property into your name, and,
secondly, those to do with your mortgage bond (should you
require one). There are other sundry expenses and disbursements
that should also be allowed for.
SA HomeBuyers will be able to assist you fully at the appropriate
time to make sure that you understand the cost implications,
but below are some examples of the main costs involved so
that you can get an idea of the impact they have on your budget.
| Property Price |
R1 million |
R2 million |
R5 million |
| Transfer Duty (Government Tax) |
R25, 000 |
R105, 000 |
R345, 000 |
| Transfer Fees |
R11, 800 |
R16, 460 |
R30, 440 |
Bond Costs for a 50% bond
(ignore these if you are not going to use
a bond for financing)
|
R4, 900 |
R8, 380 |
R13, 760 |
| Total Fees |
R41, 700 |
R129, 840 |
R389, 200 |
Total amount required for property
purchase (excluding other disbursements) |
R1, 041, 700 |
R2, 129, 840 |
R5, 389, 200 |
|
