Streaming issues? Report here
Just the Hits generic CapeTalk Just the Hits generic CapeTalk
Just the Hits
15:00 - 20:00
volume_up
volume_mute

Up Next: Just the Hits... with Soul
See full line-up
Just the Hits
15:00 - 20:00
Home
arrow_forward
Business
fiber_manual_record
Opinion
fiber_manual_record
Lifestyle

Get a loan for a funky, low(ish)-cost container home

28 September 2021 12:23 PM
Tags:
Personal finance
investing
Home loan
Mortgage
bond
Lester Kiewit
container homes
investing in property
The Morning Review
Shaun Rademeyer
Multinet Home Loans

Lester Kiewit interviews Shaun Rademeyer, CEO at Multinet Home Loans.
  • It’s not easy to get a home loan for what is considered a moveable property, but alternative means of financing does exist

  • Container homes are not cheaper than equivalent brick-and-mortar houses


Container home. © atikanploy/123rf.com

RELATED: Financing eco-friendly container homes


Low-cost eco-friendly container homes could be the answer to South Africa’s housing shortage.

These premanufactured container homes are quick to build, cheap, and environmentally friendly.

Nevertheless, the banks remain hesitant to finance these structures and embrace this building philosophy.

Container homes are viewed as temporary structures; meeting building regulations can be an issue, which may be why home loans aren’t usually approved.

Lester Kiewit interviewed Shaun Rademeyer, CEO at Multinet Home Loans (scroll up to listen).

Kiewit asked him if banks allow home loans on these alternative options and what their reasons are.

Anywhere between R30 000 and R40 000 [cost of container] … It might eventually be the same cost as a brick-and-mortar home… We’re talking about a 30 square metre home that you still need land for… You’re looking at R600 000 or R650 000… A similar brick-and-mortar property could cost you R300 000.

Shaun Rademeyer, CEO - Multinet Home Loans

There are always alternative financing means for movable property. The problem is your interest rate is higher… Not really an option for first-time buyers…

Shaun Rademeyer, CEO - Multinet Home Loans

Most of these container homes are actually designed by high-end architects and bought by wealthy people… Some container homes go three or four storeys up…

Shaun Rademeyer, CEO - Multinet Home Loans

When it comes to property, it [property stokvel] is a bit dangerous…

Shaun Rademeyer, CEO - Multinet Home Loans



28 September 2021 12:23 PM
Tags:
Personal finance
investing
Home loan
Mortgage
bond
Lester Kiewit
container homes
investing in property
The Morning Review
Shaun Rademeyer
Multinet Home Loans

More from MyMoney Online