Buying your dream house can be an exciting and rewarding experience, but knowing the monthly costs of owning a house in an estate is important. Beyond the initial purchase price, there are ongoing expenses to consider, such as bond repayments, utilities, internet, and levies. Let's look at these expenses and how they apply to Zambezi Manor Lifestyle Estate.
Bond repayment is the amount of money you repay each month on your home loan from the bank. This amount will depend on the size of your loan, the interest rate, and the repayment period, typically 20 years. At Zambezi Manor Lifestyle Estate, your bond repayment is calculated like this. With a purchase price of R1 595 000, at the current interest rate of 11.25%, a R20 000 deposit, and a 20-year term, your monthly bond repayment is only R16 525.78. If you'd like to do those calculations yourself, the Central Developments website has a handy free-to-use bond calculator.
Utilities are the providers of electricity, water, gas, and other essential services. Depending on where you live, you may need to pay for some or all of these services. If you move to Zambezi Manor Lifestyle Estate, you will have prepaid electricity and water, so your monthly payment depends entirely on your own usage. It is also important to note that all our houses come standard with solar geysers, which helps reduce your utility bill. On average, a solar geyser reduces monthly power costs by about 20%, so if your monthly electricity bill is R1 000, that amount will be reduced to about R800.
In today's world, having access to the internet is a necessity. Many people bundle their internet with their utilities, so it is important to factor this into monthly expense budgets. At Zambezi Manor Lifestyle Estate, we offer fibre internet connectivity in all our houses, so all you need to do is sign up! Our preferred internet service provider, Surf4Life, gets you connected for only R650 per month!
Levies are fees collected by the homeowners' association to pay for building insurance and to maintain and repair the state-of-the-art security systems and common areas, such as the parks and gardens. Levies at Zambezi Manor Lifestyle Estate are calculated per m² and start at R1 650 per month. This fee also covers refuse removal, exterior maintenance of your property and the upkeep of your private garden, communal swimming pool, braai areas and other common property.
Moving into your dream house is a major milestone, but it is important to be aware of the monthly expenses that come with it. At Zambezi Manor Lifestyle Estate, the costs of bond repayments, utilities, internet, and levies are manageable, making it a smart choice for anyone looking to buy their own home. You can enjoy your dream home without financial stress by factoring in these monthly costs and budgeting accordingly.
