First house I bought, I ended up taking out credit cards to cover all the additional fees (bond registration etc.) This is very informative. The prep or ground work required before actually buying is always overlooked...When lawyers want their money, bayayi funa!
Hi Njabulo, As a first time buyer, did you apply for the FLISP? I'm considering purchasing property but want to find out If I can use the subsidy to cover such costs?
Hi Obakeng. I did not apply for it. When I read through the requirements I would not have qualified or rather the chances of me getting it where slim, given my income and the fact that I do not have any dependents. However I would recommend that you do, you never know, you might just get it and anything helps. Also, what I would suggest is buy something new (where you are the first owner) to avoid transfer fees. But do as much research and prep work as possible
@@karabomotloutsi5395 Take your time and dont panic when your not in the right position to buy something that is your first preference (I did that) there is always something better around the corner. The worst thing you can do is get into more debt on top of your bond repayments. Pay the transfer fee's, lawyer fees etc out of pocket.
@@FinancialBunny more specifically will ceding the life cover add "weight" to the bond application in the case where the credit score is not that great (due to minimal/zero debt)? PS Thank you for the reply.
😅🤦🏾♂️🙌🏽💚💙❤️💛💜me and my wife bought a house 2months back oh my gosh l wished l wasn't born... right now things are terrible as we speak yaah neh the biggest part is no one will help you and no one will understand your situation but...the problem is we didn't do much research 🤦🏾♂️life goes on
I learnt a lot, but the part that got me is how she flips between accents. One minute you are talking to your Attorney at Law, the next it's Sis Bunny from next door 😂.
You could be a great teacher, the way you simplify things it's soo fun and easily understandable..a variable rate hurt me on my first car in 2015, then I bought a second car and chose fixed rate. Now I'm done paying my car this year in October. Your videos are soo informative and they force a person to relook and make changes in their financial life
@@obakengleseyane6493 the variable was lower compared to fixed rate. But knowing the interest rates are unpredictable and chances of them going up are higher, I settled for a higher rate that's fixed than variable rate that's gonna change and become much higher later.
I would say get a moving train,I bought a flat in hatfield that already had student tenants, did a little renovations and added another bedroom. It's now a 4 bedroom flat, I make R10k profit, this is after levies, management fee, property rates and emergency maintenance savings
Hi Nicollete, which interest rates qualify as an amazing ones? Asking out of curiosity, for a rate I got on my current home, and is it possible to ask the bank to review the rate (after accepting the bond)? And if it is possible, how long after receiving the bond can you approach the bank? Kind regards.
Forgot the additional costs such as home owners cover and life insurance which some banks (if not all) require at the time you sign the bond registration with their lawyers. Another recurring cost.
Incredible information! PLEASE EDUCATE THESE PEOPLE IN SA. FINANCIAL LITERACY. PLEASE for the love of GOD! We are taken advantage of CONSTANTLY especially people of colour because we are not financially literate and we do not understand the gravity of the financial decisions we make! PLEASE MORE VIDEOS LIKE THIS.
I remember I aggressively paid of my accounts because of Nicolette 2020 I was debt free tjo guys I relapsed late last year late but I am aggressively paying again
I think you need to do something on freestanding units vs sectional titles. What are the pro's and cons? This video was rather too short, but great nonetheless.
Hi Nicolette, thank you for being so informative. I’ve been watching from Namibia. Kindly assist to explain the calculations on how you save on interest rates when you pay in additional amount on top of your minimum premium. Thank you 😊
I feel so bad, I started watching these videos after purchasing because I felt it that there is a lot that I am missing out on and I have just been accepting whatever I was told. Mmmmaweeeee Sesi Nico😩😩😩ke batla go boledishana le wena personally 😂
Hi Nicolette, thank you for being so informative. I’ve been watching from Namibia. Kindly assist to explain the calculations on how you save on interest rates when you pay in additional amount on top of your minimum premium. Thank you 😊
This is a great video, like the part you were talking about the place you are staying and that person was not convinced coz their boss has an infinity pool in that area 😂😂😂
Thank you for this video and a special thank you for preparing me prior to buying my first property as I was able to apply your teachings and that made the process less overwhelming.
Nicolatte my sister, I always watch your videos and I am ever grateful for the stuff you share :) but, I don't think there will ever be one that I am grateful for more than this one. Thank you so much!
I paid additional amounts on an account, the credit provider continued to deduct and i eneded up paying more than what i owed. Ive been emailing and although they admit they have overcharged me they have not paid my money back. 😢 im debt free but my planned budget is now fucked and i have to borrow just to make it through the month.
Ma'am, thank you. I geel a vot kore confident to take the step now. With these tips, I have a starting point to research about the credit facilities in my country, and the confidence to know what im getting into. Thank you
The issue is most bonds are 20 years so the interest rate will go crazy in that time! This is a HUGE RISK. Ask yourself how many times the interest rate has gone up in the past 5 years.
Hie Nicolette which are the best ways to fix my Credit score fast. yes im going to payoff my Clothing Account after tt how can i build my credit score i want to buy a house thru home loan
Very informative, thanks financial bunny... And agents only want to sell and hide certain information, it is important to do your own research before buying.
Advantage: Fixed instalment for life. Disadvatage: Even if the interest rate is dropped to 0%, you will never benefit from that, you will still pay your 14% fixed rate :(
Then you don't owe anyone and plus there isn't a bond to be registered. however everything else is still applicable like transfer fees and all. Its just that the sale is between you and the seller through lawyers
@@FinancialBunny Can we have content about pros and cons of building in the rural areas i know your content is mostly based on finance but the life is expensive now so we would like to know if moving to the rural areas is smart home?
I saw a video stating that if you arrange with the bank, you can pay your monthly installment of the property daily instead of monthly, divide it by 31 days and that will cut off interest, is that true?
Hi Nicolette, Can you please talk about repo rate and how it affects home owners and the property market. Heard from Yolz on Yolz channel that houses will be a little less next year June. Can you please break it down for us.
I have been wanting to buy my first home for the longest time but the inflation says no. I just feel like now is not the right time with cost of living and I am also current working and paying for my own studies. Don't want to be in a financial pickle.
Hi Nicolette, thanks for the advice, greatly appreciated! Just wanted to clarify an error, 10% of a million rands is R100 000 and not R10 000 as articulated. Once again, thanks for the advice💖🙏
Hey, I think she was making an estimate of how a 1 million rand house with a 10% interest rate from the bank would be approximately R10 000 in monthly repayments not neccessarily that 10% of a million is R10 000. 🤍
@@FinancialBunny if I sign for 12months I move from 11,36% to 11.95% 12 months 11.36 to 12% 60 months 11.36 to 12.35% Excluding home owner’s cover and life insurance premiums Oh the flexi facility will be revoked too
First house I bought, I ended up taking out credit cards to cover all the additional fees (bond registration etc.) This is very informative. The prep or ground work required before actually buying is always overlooked...When lawyers want their money, bayayi funa!
Hi Njabulo,
As a first time buyer, did you apply for the FLISP? I'm considering purchasing property but want to find out If I can use the subsidy to cover such costs?
Hi Obakeng.
I did not apply for it. When I read through the requirements I would not have qualified or rather the chances of me getting it where slim, given my income and the fact that I do not have any dependents. However I would recommend that you do, you never know, you might just get it and anything helps.
Also, what I would suggest is buy something new (where you are the first owner) to avoid transfer fees. But do as much research and prep work as possible
Yoh I feel so good reading this . I almost made the mistake of buying without proper savings for lawyers fees
@@karabomotloutsi5395 Take your time and dont panic when your not in the right position to buy something that is your first preference (I did that) there is always something better around the corner. The worst thing you can do is get into more debt on top of your bond repayments. Pay the transfer fee's, lawyer fees etc out of pocket.
Hey Nicolette please talk about how life cover can assist with home loan applications and buying property
Oki doki will do. Essentially the life Cover can be ceded to the bond issuer incase of death, But ill do a video
@@FinancialBunny more specifically will ceding the life cover add "weight" to the bond application in the case where the credit score is not that great (due to minimal/zero debt)?
PS
Thank you for the reply.
@@FinancialBunnyyes please life cover vs mortgage protection cover
😅🤦🏾♂️🙌🏽💚💙❤️💛💜me and my wife bought a house 2months back oh my gosh l wished l wasn't born... right now things are terrible as we speak yaah neh the biggest part is no one will help you and no one will understand your situation but...the problem is we didn't do much research 🤦🏾♂️life goes on
The why's are quintessential. Utility is derived from using the car. Looking to buy 3rd hand has no alternative
This is very informative. Needed to watch this. Thank you for the video
very informative thank you
This was even funny but so educational 😂
Beautiful content
Lol 😂 mna am a new follower i just think i like your personality ❤️😂
Very informative👏
Yayinhle le ntombi🔥
"It is not a debt score!"
Ever since I met your videos I've been a student and have paid up the car and the house... I'm now teaching my child about Coco and her strategies
I learnt a lot, but the part that got me is how she flips between accents. One minute you are talking to your Attorney at Law, the next it's Sis Bunny from next door 😂.
Nicholette you are breaking generational curses with these videos
You could be a great teacher, the way you simplify things it's soo fun and easily understandable..a variable rate hurt me on my first car in 2015, then I bought a second car and chose fixed rate. Now I'm done paying my car this year in October. Your videos are soo informative and they force a person to relook and make changes in their financial life
Thank you.Congratulations on settling your car. Absolutely amazing
Hi Queen
When comparing the actual interest amount paid ,which was higher between the fixed and variable?
@@obakengleseyane6493 the variable was lower compared to fixed rate. But knowing the interest rates are unpredictable and chances of them going up are higher, I settled for a higher rate that's fixed than variable rate that's gonna change and become much higher later.
@@queenmusapitso5406 thanks for sharing
I just can't stop laughing as u talk. U are a great presenter. Impressive as always!!
I want to buy property for rental, student areas specifically but I’m so scared coz I don’t even know where to start
I would say get a moving train,I bought a flat in hatfield that already had student tenants, did a little renovations and added another bedroom. It's now a 4 bedroom flat, I make R10k profit, this is after levies, management fee, property rates and emergency maintenance savings
This video was God sent because I needed clarity on some of the points made here, like today. Thank you Financial Bunny tv🙏🥰
I am so happy we could help you
From cars to property, siyafunda laykhaya 👏🏾🙏🏾
Hi Nicollete, which interest rates qualify as an amazing ones? Asking out of curiosity, for a rate I got on my current home, and is it possible to ask the bank to review the rate (after accepting the bond)? And if it is possible, how long after receiving the bond can you approach the bank? Kind regards.
If you are financed by standard bank please know that they don't review afterwards. Other banks it is possible
Funny and educational as always.Loving this Nicolette 😍 👌
Thank you Itu, hope you are well
Forgot the additional costs such as home owners cover and life insurance which some banks (if not all) require at the time you sign the bond registration with their lawyers. Another recurring cost.
Thank you for such an informative and detailed video. Please can you help with do's/don't for cash buyers.
Absolutely my baba. Ill do that video next week
Yes please. Video on when busting property cash. Thanks babe
@@FinancialBunny can’t wait😊!!
Informative content as always! ❤
Thank you! Really needed the information as a first time home buyer. 👍
This was great 👍 please educate us on buying vs renting
Awesome will do
Incredible information! PLEASE EDUCATE THESE PEOPLE IN SA. FINANCIAL LITERACY. PLEASE for the love of GOD! We are taken advantage of CONSTANTLY especially people of colour because we are not financially literate and we do not understand the gravity of the financial decisions we make! PLEASE MORE VIDEOS LIKE THIS.
I remember I aggressively paid of my accounts because of Nicolette 2020 I was debt free tjo guys I relapsed late last year late but I am aggressively paying again
I think you need to do something on freestanding units vs sectional titles. What are the pro's and cons? This video was rather too short, but great nonetheless.
Hi Nicolette, thank you for being so informative. I’ve been watching from Namibia.
Kindly assist to explain the calculations on how you save on interest rates when you pay in additional amount on top of your minimum premium. Thank you 😊
Informative video -Thank you!
As a first home buyer if you intend on using the flips subsidy to cover those costs, do you still need a lump sum saved?
Thank you so much Nicolette. We learn from you.
Had to come back and research more...things are expensive eMzansi umuntu usazohlala ekhaya yho!
Loooooooove it 🔥🔥🔥🔥🔥 Thank you for sharing this ❤
Thank you my Leader
Wow just found this video now, I am going to buy my first house sometime this year.
Thank you for the advice ❤
Yo bawo!!! the process overwhelmes thanks for this vid!
I feel so bad, I started watching these videos after purchasing because I felt it that there is a lot that I am missing out on and I have just been accepting whatever I was told. Mmmmaweeeee Sesi Nico😩😩😩ke batla go boledishana le wena personally 😂
Hi Nicolette, thank you for being so informative. I’ve been watching from Namibia.
Kindly assist to explain the calculations on how you save on interest rates when you pay in additional amount on top of your minimum premium. Thank you 😊
🤣🤣🤣you're funny. I enjoyed this too much
The energy and education on this video was amazing ❤😂
Thanks
This is a great video, like the part you were talking about the place you are staying and that person was not convinced coz their boss has an infinity pool in that area 😂😂😂
Thank you for this video and a special thank you for preparing me prior to buying my first property as I was able to apply your teachings and that made the process less overwhelming.
Amazing Nwabisa, thank you for sharing a great experience
Hi, thank you for the video. Can the transfer costs not be included in the home loan?
if only people listened to such simple advice, they wouldn't be struggling the way they are now
Nicolatte my sister, I always watch your videos and I am ever grateful for the stuff you share :) but, I don't think there will ever be one that I am grateful for more than this one. Thank you so much!
I'm literally choking rn 😂😂
I'm learning a lot from your videos. You truly are a God sent 🙏🏻
Thank you Ms Sassy
It's very dangerous!
I paid additional amounts on an account, the credit provider continued to deduct and i eneded up paying more than what i owed. Ive been emailing and although they admit they have overcharged me they have not paid my money back. 😢 im debt free but my planned budget is now fucked and i have to borrow just to make it through the month.
Omg I love this channel so much. I am doing my second year in Uni and I am learning so much here, this channel is so informative.
Ma'am, thank you. I geel a vot kore confident to take the step now. With these tips, I have a starting point to research about the credit facilities in my country, and the confidence to know what im getting into. Thank you
The issue is most bonds are 20 years so the interest rate will go crazy in that time! This is a HUGE RISK. Ask yourself how many times the interest rate has gone up in the past 5 years.
"Respect my time" lol. I love it! Thank you for the video.
This was so hilarious yet highly informative 😂
Wamuhle sisi…Thanks for the advice 🙏🏽
Thank you so much
Hie Nicolette which are the best ways to fix my Credit score fast. yes im going to payoff my Clothing Account after tt how can i build my credit score i want to buy a house thru home loan
Haiboo Nicolette why are you ending the video like Sliktalk?😂😂😂😂. Great and insighful video nonetheless💙
I really wanna know the difference, advantages & disadvantages of buying a house cash & buying through bond
I will do a video on the differentiation
@@FinancialBunny thank you 🙏🏻
Oh, you're by far the most refreshing property person out here on the interweb, oh my goodness you're so real. Just had to subscribe straight off.
@13:49 🤣🤣🤣🤣
thank You…..Let me listern and learn
Thank you so much for this video, it has been so helpful.
Please can we have video about the cost involved when buying from new development ? Thanks
Hy Nicolet I love your videos Im studying and listening to you ..please do a video on how to avoid being scammed when buying property
Hahahah waitse wena! I love your style of presentation
If earning minimum wage, how can one increase the Pre qualified amount?
Very informative, thanks financial bunny... And agents only want to sell and hide certain information, it is important to do your own research before buying.
Thank you for the information. I got value.
No free launch 😂, I love the way you say it. Hhayi maSouth African you rock™️💯
Is making micro loans with banks and paying it off similar to using a credit card and paying it off?
Nice one. The explanation was articulate and clear. I enjoyed this.
You are such a gem... So informative
"Stop maxing out credit facilities"
please a podcast or sit down interviews with other financial experts
No free lunch in the world my dear .
Beautiful content Nico❤
Does the bank finance you if you are building for yourself or you have to take personal loan?
Thank you. This is s free course.
Salute sis'wam.... Unzima🙏🏾
THANKS YOU FOR FREE EDUCATION
Can you or anyone in this group help me with advantages and disadvantages or asking for a interest rate that is fixed.
Advantage: Fixed instalment for life. Disadvatage: Even if the interest rate is dropped to 0%, you will never benefit from that, you will still pay your 14% fixed rate :(
So informative 👌. Thank you so much for this.
Thank you girl❤
Hi sisi, what happened if you buy the property cash. Thanks 🙏 for the information
Then you don't owe anyone and plus there isn't a bond to be registered. however everything else is still applicable like transfer fees and all. Its just that the sale is between you and the seller through lawyers
Spot on, awesome advice 👌 take notes people this lady knows what she's talking about.
Thank you. But they must take the tips lol, im not a registered financial advisor
@FinancialBunny Really, you could have fooled me because you clearly know what you talking about.
Awesome
You still my best 🐰
Thanks 🙏🏿
GOLDEN.
Very informative.
Very good. Very helpful.
Thank you 🙏
Thank you
@@FinancialBunny you are welcome sis🤝
@@FinancialBunny Can we have content about pros and cons of building in the rural areas i know your content is mostly based on finance but the life is expensive now so we would like to know if moving to the rural areas is smart home?
Let me do some research
Thanks very much, what you sharing is very educational. How i wish i knew this education from the very beginning.
Thank you for this I am planning to buy my first ever property
We wish you all the luck and remember with information you make informative decisions
I saw a video stating that if you arrange with the bank, you can pay your monthly installment of the property daily instead of monthly, divide it by 31 days and that will cut off interest, is that true?
Not
Hi Nicolette, Can you please talk about repo rate and how it affects home owners and the property market.
Heard from Yolz on Yolz channel that houses will be a little less next year June. Can you please break it down for us.
I will do a video on the Reporate
I have been wanting to buy my first home for the longest time but the inflation says no. I just feel like now is not the right time with cost of living and I am also current working and paying for my own studies. Don't want to be in a financial pickle.
Take your time. Work with the numbers. Don’t feel pressurised and negotiate to the last cent. But what you can afford when you’re ready
@@FinancialBunny thank you for this. Will most definitely keep it in mind when I feel like it’s the right time financially 🤩
Informative mara whoa, wa SHOUTA tlhe!
Hi Nicolette, thanks for the advice, greatly appreciated! Just wanted to clarify an error, 10% of a million rands is R100 000 and not R10 000 as articulated. Once again, thanks for the advice💖🙏
Hey, I think she was making an estimate of how a 1 million rand house with a 10% interest rate from the bank would be approximately R10 000 in monthly repayments not neccessarily that 10% of a million is R10 000. 🤍
I’m about to move from linked to fixed interest rate
Someone please stop me
Did they offer you a good fixed rate?
How much is a good fixed rate?
@@FinancialBunny if I sign for 12months I move from 11,36% to 11.95%
12 months 11.36 to 12%
60 months 11.36 to 12.35%
Excluding home owner’s cover and life insurance premiums
Oh the flexi facility will be revoked too