ITS MY HOUSE: Can R51 000 salary comfortably cover your bond repayments? Viral Thread Sparks Property Industry Debate
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GUEST – Justin Easthorpe, Provincial Sales Manager at OOBA Home Loans
Recently, a hypothetical question was posed around what South Africans could afford on a R51,000 net salary? This became a trending topic on Twitter, sparking debates over whether these earnings would be enough to cover both bond and new car repayments. This hotly contested discussion stemmed from a news article that reported that a Free State education official was under investigation by the Hawks for purchasing four luxury cars on a R50,000-plus net salary. And while the resulting Twitter thread was largely humorous, it
raises an interesting question: What salary amount is needed to comfortably afford home loan repayments in the current high interest rate environment?
Recently, a hypothetical question was posed around what South Africans could afford on a R51,000 net salary? This became a trending topic on Twitter, sparking debates over whether these earnings would be enough to cover both bond and new car repayments. This hotly contested discussion stemmed from a news article that reported that a Free State education official was under investigation by the Hawks for purchasing four luxury cars on a R50,000-plus net salary. And while the resulting Twitter thread was largely humorous, it
raises an interesting question: What salary amount is needed to comfortably afford home loan repayments in the current high interest rate environment?
