South Africa| Talking about purchasing that Dream Home in South Africa we bring in the professional
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- čas přidán 15. 09. 2020
- Please watch: "South Africa | The Real South Africa has done it again Travel and Tourism for all"
• South Africa | The Rea... -~-
At The Real South Africa we hear you when it comes to relocating and visiting South Africa. We got you covered so in part 1 we talk to Christine Taylor a Home Finance Specialist here in Johannesburg, South Africa. We interview and get questions answered. You can also reach out to get answers as well. #africanamerican #repatriation #therealsouthafrica
Contact:Christine Taylor
Email: christine.taylor@ooba.co.za
If you have any questions please put The Real South Africa in the Subject line.
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A boutique and dedicated travel company designed to show South Africa as it was intended in high regards. We boost that we do this in a luxurious manner featuring the Culture and Couture plus the Lifestyle that is South Africa. The most unique country in all of Africa
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Here’s my experience in case it may help others. I’m based in New York and plan to relocate to South Africa in two years. What I did was that I visited South Africa in 2017, opened a bank account with FNB and wired money to buy an apartment in Lonehill, Sandton last year October and rented it out with a rent of R7,500, using Ryans Reality. Then two months ago I bought a second apartment in Sunninghill, Sandton and rented it out for R6,000. What I did is that I furnished both apartments and rented them out furnished for long-term or short-term tenants. For example, the current tenant in both apartments signed 12 month lease and they may leave at the end of 12 month or continue to stay there. I decided to furnish the apartments so that if the apartments are unoccupied whenever I travel to South Africa I’ll stay there instead of hotel. But here’s what I learnt from the purchases, the rent you’ll receive from properties purchased will be lower than the monthly mortgage/bond you’ll pay to banks. So, buying for the purpose of renting in South Africa does not seem to be profitable. However, I intend to buy about four apartments and am already negotiating on the remaining two now (one in Fourways and another one in Waterfall).
I made both purchases from a builder (Summercon Investment Properties) that build executive sectional complexes. The one in Lonehill cost $64,000 last year and the other one in Sunninghill cost $53,000 two months ago. In fact, I have not seen both apartments now because of Coronavirus lockdown, as I initially planned to travel to South Africa in June. What Summercon did was send me the documents and I notarized them at South African Embassy here in the US and sent it back to them.
Instead of relying on bonds in South Africa, what I did was to obtain loan from my bank (Citibank) in New York. If you have a good credit now, the best option is to get a loan here in the US. The last one I got was just 8% for five years and I intend to pay it off by next year. When I retire in two years I’ll just use the money in my 403k to buy a land and build a house of my taste after a year of settling down in South Africa. I'm currently processing my retirement visa to South Africa which requires that I earn R37,000 per month after retirement (my social security is already more than that) and the visa process takes two years to be approved. Even the rent I plan to receive from the four properties I intend to purchase will be close to R30,000 a month. So, there’s no point rushing.
Here’s my view. Some information in the video caters to those who have money but the truth is that majority of us blacks don’t have that kind of money. Except you have millions of dollars, it’s foolishness to think of buying land to build a house in South Africa you have not relocated to. The best option is to buy an apartment and relocate. Then when you’re there you can think of buying and building. That’s what I plan to do when I relocate in two years. It costs more to buy land and build a house. But if you’re the type that has plenty of cash, then the best option is to build. I travel frequently to South Africa since 2017 and developed contacts with people during the period. It’s the people that help me do the leg work during the purchases.
The Real South Africa gave all these tips in their previous videos. So, you need to watch more of their videos to learn more about things.
Thanks so much for sharing! So you have properties foe rent doe large families?
@@thelocdoc4433 No, it's for me alone. I plan to use the rent for chilling out and enjoying life in South Africa when I relocate. I'll be there alone with me, myself, and I. With the rent from four properties, my social security, 403k, and Roth IRA account, I should have a wonderful time enjoying life in South Africa.
@@TheAdeJohn you will certainly have a great time. I am so delighted to read about your beautiful love story with South Africa. South Africa is truly a beautiful country.
@@TheAdeJohn WHats your email? Looking to do the same thing. Based in Miami now.
For the rental amounts that you listed, is that monthly or annual?
This gentleman is so humble you can see the way he speaks. God Bless you and your family, sir.
Bro. that's why i love him he is blessed.
I agree fully, he and his wife are perfectly matched I love how they have embraced this country and are open minded, it is refreshing.
I love both of them very humble people .God bless them abundantly
He loves SA
God bless and protect them eternally.
This channel is so refreshing,South africa is truly grateful for the positive vibes and showing the world what we have to offer we truly blessed as South africans.
Wow your channel is growing fast it shows how important your content is. I was here since it was like 1000
been here around that time too.. positive content over here
Our channel is growing I am here for it all
This was so informative. I look forward to visiting soon and meeting brothers and sisters in Africa. I’m pretty sure I’ll want to move immediately! LoL.. Keep up the great content.
South Africans love and appreciate you Mark and Tasha.God bless both of yoy
Great video, and great content as usual! I'm a local and I've learned so much from this. Well done
Yay! Just as I was about to go to bed 💕
How we love and a appreciate this couple though 👋 👋
Very informative for someone like myself who is planning a move there after a few visits. A video on professions/skills needed/jobs available in SA I feel would also be helpful.
Welcome to ZA!! Where you now I wonder?
@@francoiswilliams MA
Thank you so much for doing this interview 🙏 i really appreciate the information because purchasing a home is something i want to do in the immediate future.
Helo, Could you do a video on Health care, Health insurance, College tuition in South Africa vs the USA? Thanks!
The best universities in south Africa are University of Cape town, university of PRETORIA, university of wits , Stellenbosch and university of Johannesburg.And they are the best universities in Africa you can check Google.For more info Check me on Instagram my IG is professorsdumo2
Thanks Mark for this information continue the good work, God bless.
Thanks for bringing us this information
Excellent questions being asked - thank you for such great information!
Great content and very informative. Keep up the good work. I look forward to purchasing a home soon.
Thank you so much for this!!!!! ❤️
Great information.. So informative.. Thanks
Great episode. Very informative ...
Mr. and Mrs. Blanton for Presidency. 🙌😊
Mr & Dr Blanton
Another great episode. Thanks!
I Love, Love, This channel. May you and your wife find prosperity in SA sir
First to watch, family is growing.
Great info. Thanks 👍🏾
You bet
Great video Sir.
I understand that it's generally easier to buy a house than to build one, but do you know roughly how much cheaper it is to build a house than to buy one in South Africa?
This option may be more desirable to those of us who'd rather buy land and develop it at our own pace, and not have to worry about bonds and mortgages.
All the contacts are in the video the pros would know send them a email...Thanks
Great informative video family! Peace!
Thanks
Great video, I love this gentleman
Wow very informative 👏 👌 👍
Sooo helpful!!!!
My advice to potential buyers is to pay the full amount for the property if you can afford it. Having a 20 year bond/mortgage with varying interests rates is not for everyone. 50% deposit is an excellent idea though.
The prices are not bad and it's a freehold estate unlike some countries like Ghana asking ridiculous prices for 50 year leaseholds.
@@newsnowpan-afrika2875. True was put off buying land in Ghana because you don't own it but it is leased, ridiculous laws.
@@anitasamuels8821 I wonder if they give the Chinese such ridiculous terms too when they buy land in Ghana.
Best time to purchase property is now while the interest rates are significantly low.
I strongly advise getting a local bank account where possible.
I work abroad and my income gets paid into an overseas account, but my South African bank (Nedbank) was generous enough to grant us a 100% loan on our property. But, as per the interview, a foreigner will likely get a 50% loan approval.
Good information....so much to cover in the approval process
What's the interest rate on a 100% loan?
@@newsnowpan-afrika2875 pre-COVID the interest rate was sitting at 10.2%. The rate has dropped to 7.15%, significantly reducing bond/mortgage payments.
@@ntobekomtimkulu239 I like to talk to your about your bank
@@fabulousfarrahinsouthafrica sure.
Ghana is 50 year leasehold for foreigners and price gouging is the norm if they hear America.
Going deep now hey. This is real 😅
Very interesting, even for me as South African!!
You're not African bruh
@@benkarl1274 He's South African... That's factual
@@pelomk9022 He ain't African African if you know what I mean.
There is more to being African than the color of your skin.
He's a South African and by definition an African especially since he was born here.
You may call yourself African American but the truth is theres nothing remotely African about you. You're just an American with black skin.
We at level one
What about permanent residency people buying home ...I notice temporary residency
Great video my Friend, I do have a question, how does it work if you are already retired and receive a pension and after putting down 50% how long are the finance terms and at what interest rates, in other words I would not be moving there to work but to stay retired, Thank You!
Wow, wish I was you. 50% down. You should be alright. Mortgages in South Africa are similar to here. Which city are you interested in moving to?
@@MrRklewis hey Kenneth I've never been to Africa just doing some research, sick of the Craziness in the States, just trying to figure out where I'm going to Land!
@@jeffreyfoster4260 Ok, since 2010, I have taken 17 trips to Africa. Been to many countries. If you're looking to retire and you want some resemblance of American life, then South Africa is the closet to that. Paved streets, nice neighborhoods. Great Malls. Everywhere else is mostly a third world country. Ghana, Nigeria, Kenya, Tanzania, Senegal, Gambia, Ivory coast, Ethiopia, have some nice places. Great people, but over half of those countries are third world. Which means that you can live in a nice gated area, but when you go out from there, third world. Dirt roads, pot holes, open sewers, rundown buildings, people coming up to you selling items on the streets when you stop for a light. I took a taxi to a place in Nigeria which was 39 miles away and it took me 2 hours to get there because of the terrible roads. But really, I didn't mind. Loved the experience and the scenery. But some places in Cape Town, Durban, Port Elizabeth and Johannesburg may even be nicer than America. Camps Bay reminds me of La Jolla, California. If you are single the women are great. I actually got married in Ghana 5 years ago. But still, lots of people are moving to Africa to these third world countries. I could do it part time and live in the states part time. Because my wife still loves Ghana and her family is still there. It's very inexpensive. $1,500 per month in most places and you will live good. I rented a taxi in Ghana last year and he charged me $6 dollars per hour. In all of these place they have good entertainment. Afrochella is coming to Ghana in Dec. and I'd like to attend. Went to some nice comedy Plays at the 1500 seat theatre in Ghana. So if you had a car there in these countries and you lived in a decent area, and had a good satellite system for your TV, it won't be so bad.
@@MrRklewis Thank you so much Kenneth, sounds like South Africa is it if Africa is in the running, I'll have to plan a trip when this pandemic is over, I've been retired since 51 I'll be 59 this month, still waiting for my wife she's just 55 so she still has a way to go but I'm about ready to buy soon, kinda just waiting for this pandemic to end to see what's going to happen with the economy, I can buy now so when wifey retires we can go
@@jeffreyfoster4260 I have no problem sharing my experiences with you. We can keep in touch. One thing about South Africa, is that you are a 2 to 3 hour plane ride from so many exciting and different African countries, each with a different language and culture. Including Madagascar and Mauritius. You just have to drive through Namibia. A country twice the size of California with only 2 million people living there. You will see tribal people who just stepped out of a time machine and if you drive deep into the country, lots of wild animals. You won't see that in America.
The price of a SUV and a family car in Rands.
Cars are expensive. Entry level Toyota Corolla R380k ($24k) and RAV4 = R450K (R28k) including tax. Full insurance cover will be approx R1500 each ($100) per month.
Thank you for this video my brother.!.do you guys have a website or can recommend one for homes for sale in Johannesburg and Durban? As we look to move to South Africa we are definitely looking to own... The decision is where to stay between Johannesburg and Durban. The home I can build for just $300,000 will be amazing!! Lord willing
@Eleanore Richards Thank you for the update..much appreciated!
@Eleanore Richards running a high fever lol??
There are companies online, Google buddy...
@@francoiswilliams Yes I saw that..just being cautious concidering I'm not there yet.
@@SPECIALTRADER1 Cool, actually everyone is fixated on big cities but I would recommend Upington Btw...
Sorry not sorry that I want to support my own. If not I may as well stay in the USA. My dream is to see people that look like me holding these positions and building our motherland for the most high’s chosen. Yes after 400 years of slavery and still prosecuted it is personal. If I pray to the most high to keep his new covenant it would be hypercritical of me to work against it.
She's not a realtor. She does not sell property, only shops around for the best deals in home loans and gives prospective clients quotes.
Thato Mbha of Mzansi Cribs is a Black realtor though, he's on Instagram and has a CZcams channel in case you want to look him up.
Have you been to South Africa? Plenty of people work in the industry you can easily realize your dream.
Many people see a white person and get triggered? 🤣🤣🤣 Come check it out for yourself , there are many people who look like you who do hold such positions. South Africa is majority black, most police are black, most doctors are black, most teachers are black - blacks are most everything . But you won't know until you at least visit 😊🇿🇦
_Thee Real Nono_ good to know! Thanks for the enlightening.
The Real South Africa Dubai and Lahore. Ghana and South Africa I am trying to decide on which! I plan to get my Visa for Ghana if South Africa do not open its boarders. Thanks for the reply!
How abt those that can't afford 50% how does renting property work
You can rent with just passport and sometimes your proof of visa and bank statements if you pay for a year up front if you choose to rent month to month you will have to show proof of income along with passport and visa
thank u
@@autobotdiva9268 rand or dollars. It's best to convert to rands. You will just wire
@@staceymorrison1973 welcome😊
What about retirement income?
All income is good income for more details info@therealsouthafrica.com
Which banks?
All Banks in South Africa
@@veemotaung1060 Capitec bank does not have home loan departments , their still in acquisition process to buy Mercantile bank , then they will do home loans and business banking
@@veemotaung1060 okay how to do it. I see capitec has entered this market
A muzungu? She got to be the biggest because of privilege.
We don't want negative people on this channel
Vee Motaung, negative or facts?
@@veemotaung1060 it's not negative if it's made from a historical observation. Black South Africans gained freedom 26 years ago. White south africans have a 300 year head start.
@@newsnowpan-afrika2875 Head start from what? Do all of us not have more possetions than our forefathers? Our family is wealthy, even during the past government.
Went all the way to South Africa to do business with certain people. You know what I mean! L O L!
What do you mean? 🤔
In this instance the way things are still structured the financial sector as a whole is still in the hands of those people so please understand it's not their fault. Please do your research as well before judging as citizens we still do business with those people out of necessity not choice but hopefully gradually things will change
@@nomfunekonosilela3895 I know these people still control things they had quiet a head start!, It takes time for things to change and honestly if one group has already strongly established themselves it might never change.I am just being humorous. Many African Americans think that once they get to Africa EVERYTHING will be black owned., so I think a lot of them will be surprised.!
@@kamala80 if you have to ask, the message is not for you 😒
@@josephbrown1573 Glad to hear you understand. We are a very resilient people if you ask me " they" used to tell us we must give up coz our leaders are in prison and the exiled ones would not come back, it took 84 long years to gain significant ground, we are still keeping on, the truth is on our side and , our forefathers did it for us, we are doing it for our children
What! Did you delete my comment? Are you trying to protect that lady by deleting insightful comments? I'm very disappointed. This is ridiculous.
I don't know what he deleted but whatever you said was probably dumb! What reason do you have to insult this woman? And are you an AA or South African to start of with?
@@tokelolove7234 why does it matter? You're sounding ignorant
What was deleted?
@@benkarl1274 Well are you?
What does the gun laws look like?
That can't be the first thing you think about, then you gonna have a big problem, what do you need a gun for?
To protect myself from simple minded people like you.
Great question. Private individuals can apply for a gun licence. It's a a tougher process than the States cause they don't want guns landing in the hands of lunatics. Although we do have violent crime, like most big cities around the world (Chicago, are you listening?) but there are much fewer guns here than over there. I personally would not want to own one. But in short, you can own a gun here.
African and Proud Thank you for the information. Very helpful.
@@AJ252 Only a pleasure my friemd. Time to come back home. You will be pleasantly suprised. 🇿🇦🇺🇲
Very informative. But I would have preferred it if the services of a Black South African realtor were enlisted as opposed to Karen up there.
Please dont come. We have enough of your mindset. We want people who treat eachother well.
not a good look.