Ok, apologies if this is the wrong sub-forum, but i thought this post was slightly more appropriate here, than in the Renting & Real Estate sub forum.
It's a bit of a hypothetical question really - As we are still yet to land in SA (1st April 2015) get work, keep our noses clean and do all the right things to build up a good credit rating BUT as soon as we are able to, we want to buy a home in SA.
I know things can change and grants can come and go - but lets say (for arguments sake) that we were looking for a home and properties that met our criteria were at the $425.000 price point.
Whats the minimum (percentage) deposit that the banks require?
What are the other associated costs?
I think i am correct in thinking that the Stamp Duty and Conveyancing cost is the really big expense - Currently working out at $17,580?
I see there is a First Home Buyers Grant...... But am i right in thinking that this only applies to new builds? Is this for Off plan only? and am i right in thinking is worth $15.000?