Property Investment “With interest rates so low, it is certainly a good time to be buying an investment property,” said Stevens, while warning that investors should take into account that rental inflation is also at an all-time low, sitting at around 1.5% nationally according to PayProp.

Great Britain

Is it cheaper to build or buy a house in South Africa? The current market prices indicate that it is 15% cheaper to buy a ready house than to start building one from the ground up. However, most ready homes do not come with the features of one’s dream home.

“The viability of buying property in the current market is best understood when one considers that the average monthly rental in the formal market is around R7,800,” BetterBond said….Is it better to rent or buy in South Africa right now?

If you have limited funds but want to enter the real estate market to reap returns, flats offer the best opportunities for investors. but In the long run, land appreciates better than apartments.

The fourth quarter statistics from Ooba show that the Average Purchase Price increased by 11.7% year-on-year reaching R1,349,337. The Average Purchase Price for first-time buyers fared even better, with a 13.7% increase, breaching the million-rand mark at R1,089,443.

Job platform Adzuna recently compiled a list of the most affordable cities to buy properties in South Africa by matching property prices with salaries on offer. It found that Port Elizabeth and Polokwane were among the cheapest places to buy property. Cape Town and Johannesburg were the most expensive cities.

Pittsburg

The minimum credit score for a home loan in South Africa is around 640. A score of 600+ will give you a fair chance of home loan approval – although this may vary according to which bank you use. A score of 670+ is considered an excellent credit score, significantly boosting your chances of home loan approval.

between 650 and 669

670 and 739, you have a good rating, and as such, you are not likely to be delinquent in the future. 740 and 799, you are very good and likely to receive better than average rates from lenders. 800 and 850, your rating is exceptional, and you are considered to be at the top of the list for the best rates from lenders.

How to improve your credit score quickly

1. Check credit reports for errors. One measure you can take immediately is to check your credit report for errors and inconsistencies.
2. Pay off outstanding debts.
3. Reduce your credit ratio.
4. Settle and close accounts.
5. Avoid using credit.
6. Ensure your spouse takes the same measures.

A FICO score of 650 is considered fair—better than poor, but less than good. It falls below the national average FICO® Score of 710, and solidly within the fair score range of 580 to 669.

A FICO score between 620 and 650 is considered fair to good credit. But keep in mind, this range of credit scores does not guarantee you will qualify for a mortgage. With an FHA mortgage, however, a FICO score of 600 or higher is enough to qualify for the 3.5% down payment loan.

Top 8 Ways: How to Improve Your Credit Score

1. Pay your bills on time. This may seem like a no-brainer.
2. Raise your credit limit.
3. Use different types of credit.
4. Dispute discrepancies and errors.
5. Strategically open credit accounts.
6. Pay your bills twice a month.
7. Become an authorized user.
8. Reduce the amount you owe.

Make Timely Payments If you’ve missed payments in the past, get back on track and continue to pay the amount due each month. Paying accounts on time will not automatically remove a history of late payments from your credit report, but creating a new pattern of timely payments will help you raise your score.