I have an idea for a new thread...

[MTBeer]

http://ak-hdl.buzzfed.com/static/enhanced/webdr02/2013/3/1/15/enhanced-buzz-wide-530-1362170865-7.jpg

this is nice.

[MTBeer]

http://ak-hdl.buzzfed.com/static/enhanced/webdr03/2013/3/1/14/enhanced-buzz-wide-32673-1362166435-3.jpg

and this

[Captain Fastbastard Mayhem]

mayhem, I think you know the answer to that question.

 

its the same as why someone with a family buys a two seater porsche 

 

http://www.urbandictionary.com/define.php?term=napoleon+complex

 

LOL. If I had the cash to splurge on a porker, it'd be the Panamera or the Cayenne. Still got the performance, but there's enough space for the kid and dog to come along for the ride. 

[Captain Fastbastard Mayhem]

this is nice.

I could get used to that. 

[Shebeen]

Agreed. Was discussing this with a mate of mine over the weekend. I cannot fathom how some people can spend upwards of R 10m (or even R 4m) on a house / home, when there is just SOOO much available below that price point. We theorised that at the R 50m point, the buyers aren't financing their homes - that would be a humongous loan to service (c R 500,000 per month or R 375,000 interest only) so it must be old / new money. But WHY!?

 

I mean, I get the idea of space, and serviceability, but after a certain point it all becomes one-upmanship IMO. I mean, I'd far rather live in my godmother's R 1.4m detached house in Plumstead with a serviceable back garden and natural wood flooring than an R 10m uber-house that takes R 10,000 just to heat each month.  

look at sale prices in nettleton road(basically, above clifton but against the mountain)

http://www.property24.com/property-values/nettleton-road/clifton/cape-town/western-cape/11015/30848

 

I have an uncle that sold his bungalow in Clifton 3rd beach in the late 80's. Bought himself a berry farm and which sunk him (and his marriage) two years later. He doesn't like telling that story. 

[Shebeen]

according to wikipedia he was born 10th march 1940. but otherwise that's a nice story

[Captain Fastbastard Mayhem]

look at sale prices in nettleton road(basically, above clifton but against the mountain)

http://www.property24.com/property-values/nettleton-road/clifton/cape-town/western-cape/11015/30848

 

I have an uncle that sold his bungalow in Clifton 3rd beach in the late 80's. Bought himself a berry farm and which sunk him (and his marriage) two years later. He doesn't like telling that story. 

Ouch. 

 

My wife's gran had a place in Fresnaye that she sold about 5 years before my wife moved to CT. She's still kicking herself now. 

[MTBeer]

Ouch. 

 

My wife's gran had a place in Fresnaye that she sold about 5 years before my wife moved to CT. She's still kicking herself now. 

who, your wife?

[MTBeer]

and okes, show some respect, remember it's FRAYNAYE

[Captain Fastbastard Mayhem]

who, your wife?

Nope, her gran. Could have kept it and passed it on. She wasn't sukkeling for cash, and she'd have had a lekker little nestegg now just in case she needed it. 

[Shebeen]

Ouch. 

 

My wife's gran had a place in Fresnaye that she sold about 5 years before my wife moved to CT. She's still kicking herself now. 

but joh. the rates are not cheeeeep!

[Captain Fastbastard Mayhem]

but joh. the rates are not cheeeeep!

Nope. But if it's the only expense we need to worry about... 

[Shebeen]

 

[Hairy]

Agreed. Was discussing this with a mate of mine over the weekend. I cannot fathom how some people can spend upwards of R 10m (or even R 4m) on a house / home, when there is just SOOO much available below that price point. We theorised that at the R 50m point, the buyers aren't financing their homes - that would be a humongous loan to service (c R 500,000 per month or R 375,000 interest only) so it must be old / new money. But WHY!?

 

I mean, I get the idea of space, and serviceability, but after a certain point it all becomes one-upmanship IMO. I mean, I'd far rather live in my godmother's R 1.4m detached house in Plumstead with a serviceable back garden and natural wood flooring than an R 10m uber-house that takes R 10,000 just to heat each month.  

you have no idea some of the money being spent on houses!

 

now take your logic and apply it to someone who saves and works bloody hard to be able to get the deposit together and be able to apply for a bond on a R700K house who then looks at the 1.4M house asking the same question you are asking of the ubber rich persons house cost.

[Captain Fastbastard Mayhem]

you have no idea some of the money being spent on houses!

 

now take your logic and apply it to someone who saves and works bloody hard to be able to get the deposit together and be able to apply for a bond on a R700K house who then looks at the 1.4M house asking the same question you are asking of the ubber rich persons house cost.

LOL. J, I know! Remember I see this on my clients as well. 

 

Jeepers. Okay, not the R 50m level, but multi million rand, yes. 

 

As for the 700k to 1.4m thing - at least that's achievable and just double the price of a 700k house. But when I look at a R 50m house... I struggle to see how they can even begin servicing a bond. 

[Tumbleweed]

LOL. J, I know! Remember I see this on my clients as well. 

 

Jeepers. Okay, not the R 50m level, but multi million rand, yes. 

 

As for the 700k to 1.4m thing - at least that's achievable and just double the price of a 700k house. But when I look at a R 50m house... I struggle to see how they can even begin servicing a bond. 

 

Wouldn't those kinda houses be bought through trusts and stuff?