n Personal Finance Newsletter - Editor's experience of property ownership : property

Volume 2007, Issue 321
  • ISSN :



When I was a young boy, I was flabbergasted to learn that my parents had paid R19 000 for a family home with a swimming pool. That was back in 1980, and considering that R2 000 per month was a really decent family income in those days, this just seemed like an enormous amount of money to pay for a house - particularly as the building society (remember those?) required a 20% deposit, plus you had to have your own funds for transfer and bond costs.

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