The bond that prospective homeowners will be able to afford depends on a number of factors, including take-home pay, and the size of the deposit.
Using the rule of thumb that your bond repayment should be equal to around a third of this amount, or between R5,000 – R6,000, a solo buyer in the current market would generally be looking at a home priced betweenaffordability calculator shows. This factors in an interest rate of 7.5% and a bond repayment period of 20 years.
Additionally, couples who are buying a home together can use their total household disposable income to gauge how much they can afford to pay on a bond.
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