Following 3 Repo Rate cuts this year, from 9.75% down to 7.25%, interest rates are currently at 50 year lows meaning it is even more affordable to buy property.
Here are a few more reasons why we believe now is a good time to buy:
Bond amount | 7.75% | 7.25% | Monthly saving from 9.75% to 7.25% | Interest saving over 20 years |
---|---|---|---|---|
R250 000 | R2 052 | R1 976 | R395 | R94 884 |
R500 000 | R4 105 | 3 952 | R791 | R189 769 |
R750 000 | R6 157 | 5 928 | R1 186 | R284 653 |
R1 000 000 | R8 209 | 7 904 | R1 581 | R379 538 |
R1 250 000 | R10 262 | 9 880 | R1 976 | R474 423 |
R1 500 000 | R12 314 | 11 856 | R2 372 | R569 307 |
R2 000 000 | R16 419 | 15 808 | R3 162 | R759 076 |
R3 000 000 | R24 628 | 23 711 | R4 745 | R1 138 614 |
R4 000 000 | R32 838 | 31 615 | R6 326 | R1 518 153 |
R5 000 000 | R41 047 | 39 519 | R7 907 | R1 897 690 |