Do you know the real price of your dream home?

In December I had some friends from Europe visiting me. They have been a number of times before in South Africa and now are in love with Cape Town. (Who isn’t!?)

Now they plan to relocate to Cape Town and buy a house. With this plan in mind they used the weekends of their holiday to do some house viewings. And quite quickly they found a house they liked and want to buy their new dream home. So far so good.

But (there is always a but ), they have limited funds and have chosen a property that they think they can just afford.

Now their European view is that the property price announced in the newspapers and told by the property agent is the buying price. That is a common misconception of a lot of foreigners coming to South Africa.Continue Reading …