Although there are many financial benefits to owning your own home, there are additional monthly expenses that buyers must take into consideration before committing to the purchase of a residential property.
Besides your monthly bond instalment, you will also be responsible for:
• Property rates and taxes.
• Electricity, water and sewerage.
• If you are buying into a sectional title scheme or a complex, you will have monthly levies or homeowner’s association fees.
• If you are not buying into a sectional title scheme or a complex, then you will need to budget for expenses such as security, domestic workers, garden and or swimming pool maintenance, as well as general maintenance of the property. which includes upgrades and renovations you want to make the property.
• Bond insurance, life insurance, household and homeowners insurance.
To ensure that you have budgeted your new home correctly WhatsApp Martin on 082 447 3463