“It’s Just Business”: SA Man Breaks Down True Cost of R2 Million Home Loan in Facebook Video

• SA content creator Johan du Plessis shared a Facebook video breaking down what a R2 million home loan really costs
• He worked out that a 20-year bond at current rates adds up to about R4.7 million in total repayments
• Du Plessis said transfer duty and bond fees push the real price closer to R5 million

A South African finance content creator has broken down the true cost of a R2 million home loan. Johan du Plessis posted the numbers in a Facebook video on 2 July 2026, aimed at first-time buyers.

Du Plessis runs a page focused on money facts and business insights for South Africans. He often shares real numbers meant to help people understand big financial decisions before they sign anything.

How the numbers add up

According to du Plessis, a R2 million bond over 20 years works out to roughly R19,600 a month at today’s interest rate. Over the full term, that adds up to close to R4.7 million paid to the bank. He explained that buyers effectively hand over about R2.71 million in interest alone, on top of the original loan amount.

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He didn’t stop at monthly repayments. Du Plessis pointed to SARS transfer duty figures, which currently sit at around R33,786 for a R2 million property. Add bond registration costs, and he says the real price tag creeps close to R5 million.

His breakdown struck a nerve online. Commenters weighed in with mixed views on whether buying still makes sense at current rates. Some argued that renting and saving for a bigger deposit works out cheaper in the long run. Others pushed back, saying a bond still leaves buyers with an asset their children can inherit one day.

The debate reflects a wider conversation among South Africans weighing up renting versus buying as interest rates stay high. Du Plessis said he wanted people to see the full picture before committing to a bond.

Watch the breakdown below:

More stories involving loans

• NDB approves $1 billion loan for South Africa to address failing municipal infrastructure.
• The CEO of Icebolethu spoke at a Johannesburg business conference on 25 June about building a billion-rand funeral business from scratch.
• South Africa has secured a concessional climate loan from Germany to the value of R3.8 billion, to boost the country's power grid.

Source: Briefly News