5.1 Define the term title deed - NSC Consumer Studies - Question 5 - 2020 - Paper 1
Question 5
5.1 Define the term title deed.
5.2 Give the purpose of the National Home Builders' Registration Council (NHBRC).
5.3 Differentiate between full-title ownership an... show full transcript
Worked Solution & Example Answer:5.1 Define the term title deed - NSC Consumer Studies - Question 5 - 2020 - Paper 1
Step 1
Define the term title deed.
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Answer
A title deed is a legal document that serves as proof of ownership for a specific property. It contains detailed information about the property, including its boundaries and the owner's name.
Step 2
Give the purpose of the National Home Builders' Registration Council (NHBRC).
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The NHBRC aims to assist and protect home buyers by ensuring that builders adhere to prescribed standards of construction and responsible behavior, thereby promoting quality housing in South Africa.
Step 3
Differentiate between full-title ownership and sectional-title ownership.
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Full-title ownership grants the buyer complete ownership of the entire property, including land and structures on it, allowing full control. In contrast, sectional-title ownership means the buyer owns a section of a larger complex and shares ownership of communal areas, thereby having limited control over the property.
Step 4
Name THREE financial responsibilities that John will have as a landlord.
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John must pay the bond repayment, including interest;
He is responsible for property insurance;
He must cover municipal taxes and service fees.
Step 5
Explain to John the possible disadvantages of renting out his property.
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There might be a risk of non-payment by tenants, leading to financial losses;
The property may suffer damage, incurring repair costs;
Managing tenants requires time and effort, which can be stressful.
Step 6
Explain why it would be best for John to take a fixed interest rate on the home loan.
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Opting for a fixed interest rate ensures that John's monthly repayments remain constant over the loan period, providing predictability and stability in budgeting, especially if interest rates rise in the future.
Step 7
State FOUR factors to consider when shopping for a vacuum cleaner to ensure that it is easy to operate.
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Weight of the vacuum cleaner;
Cord length or cordless design;
Usability features such as a retractable cord;
Accessibility of controls for ease of use.
Step 8
Discuss the advantage(s) of the following universal design features of the microwave oven: Stainless steel finish.
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The stainless steel finish is durable, preventing rust and deterioration;
It is easy to clean and maintains a hygienic surface.
Step 9
Discuss the advantage(s) of the following universal design features of the microwave oven: Clear display text.
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Clear display text enhances user interaction, making it simple to read settings and cooking times, improving accessibility for all users.
Step 10
Discuss the advantage(s) of the following universal design features of the microwave oven: Automatic programming based on the weight of the food.
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This feature ensures that cooking times are accurate, preventing undercooking or overcooking, and saves energy by optimizing cooking efficiency.
Step 11
Compare the financial aspects of buying household appliances using a bank credit card and with using an instalment sale transaction.
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Using a credit card may involve high-interest costs if not paid on time, while instalment sales allow repayment in smaller amounts over time without high-interest penalties, making budgeting easier.
Step 12
Predict the possible financial consequences for homeowners who have lost their homes due to floods or fires.
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Homeowners may face immediate homelessness, inability to rebuild without adequate insurance, potential loss of personal belongings, or financial strain from loans to cover rebuilding costs, leading to increased debt and financial instability.
