Those in the fortunate position of being able to afford their dream home often only factor in the deposit and are frequently caught out by other costs associated with buying property.
The tax levied by Sars on a property acquisition (see table).
Fees paid to the lawyer responsible for dealing with the Deeds Office and transferring the property into your name. Purchasers can expect to pay around 1% of the purchase price.
Most banks charge R5 700, the fee allowed by the National Credit Act.
Costs to cover the administration and registration of the home loan. Buyers should budget for roughly around 1% to 1.5% of the loan amount.
Post, petties and Fica fees from both the bond originator and lawyer come to just under R3 000.