The mortgages rules for building yourself
http://www.iolproperty.co.za/roller/news/entry/the_mortgages_rules_for_building
“Building for oneself,” said Lawrence, “at the moment is almost always more expensive than buying a second hand home of the same size – but it has the huge benefit that the client gets exactly the home that he wants, designed and finished to meet his needs.”
Most of those going this independent route, said Lawrence, do rely on bank finance – and banks are still prepared to advance up to 80% bonds for this type of enterprise, provided that the loan applicant qualifies and goes about his request in the approved way.
This, he said, involves, either buying a plot , designing and building a house or buying into a so called ‘plot and plan’ system where the house is pre-designed as part of the development.
Related posts:
