Best Bond and Transfer Cost Calculator| Tyson Properties
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Best Bond and Transfer Cost Calculator: Can You Afford to Buy That Property?
Are you looking for the best bond and transfer cost calculator? To calculate whether you can
genuinely afford the bond and transfer costs of that property you've been eyeing, you can use an
online calculator.
BetterBond Bond and Transfer Cost Calculator
With BetterBond's nifty online bond and transfer cost calculator, you can calculate the total bond
registration and property transfer costs in two ticks.
Steps to Calculating your Bond and Transfer Costs
Their simple online calculator requires you to fill in four sections, whereafter it automatically
calculates the estimated amounts in Rand for you.
Step 1: Purchase Price (Total Cost of Property)
The first information you will have to input is the purchase price of the property you are
interested in buying. This will determine two things, namely the size of your bond and the
transfer costs owed.
Step 2: Bond Amount (Amount You Need to Borrow)
This amount will be the loan amount that affects the bond costs and transfer costs owed to
the attorneys for transferring the property to your name.
Here's a quick example to illustrate the difference between the purchase price and bond
amount. If your purchase price is R1 000 000 and you pay a 10% deposit, your bond amount
will be R900 000. It's, therefore, the total amount owed minus the deposit already paid.
Step 3: Interest Rate
For your convenience, BetterBond's bond and transfer cost calculator automatically updates
to show the current interest rate. However, it's important to note that this can change
depending on your credit score and deposit paid.
Step 4: Repayment Term (in Years)
Would you like to pay off the property in 20 or 30 years? Although the BetterBond bond and
transfer cost calculator uses the most common period of 20 years (or 240 months), you can
also enter your own amount.
Once you've filled in the fields, click 'calculate' and it will give you a breakdown of all the figures.
Ready to Buy ? Contact us today
Author: Tyson Properties
