Buying Your FIrst Home

There are so many things to think about & so much that you don't know, it can be intimidating when purchasing your first property. We're here to work with you all the way, simply click here & work with our Area Specialists & Property Practitioners 

Am I ready? What are the financial considerations I should make?

• Make sure your credit history is healthy
• Save for a Deposit, although many banks are currently offering up to 105% bonds, having a deposit reduces your monthly payments & a great way to invest any additional savings you may have
• Assess Your Affordability & speak to your partner if you are buying together. This is a very important question, can you afford to make this purchase, comfortably.
• You can use an affordability calculator to see what you qualify for, simply check out our easy to use calculator here 

Ok, let's start looking for that perfect home shall we?

Here's what should be on your list, when looking for that perfect first home!

• Your budget - be realistic about what property you can afford.
• Your needs - property is a long-term investment. Consider your present- and future needs.
• Your lifestyle & family - find a neighbourhood that offers your desired lifestyle. Schools, Shopping Centres, easy access to your place of work & proximity to medical facilities should be important factors to consider.
• Security - What are the crime stats in the area? Would you feel safe living in the area
• And what would your ideal space look like? Consider the number of bedrooms, bathrooms, gardens space for children & pets, a garage / storage space, safe parking  
• Property type - do you want to live in a freestanding house, a flat or in a secure development. If you choose to purchase in a complex / secure estate.  is it well maintained & what are the additional levy costs? Ask to see a copy of the Complex / Estate Rules & Regulations.
• Maintenance - Probably one of the most important considerations. Does the property have a pool, garden or regular maintenance requirements? Will you have the time to spend doing these tasks?
• Cost of renovating the home if required - Can you afford to do the renovations when you take occupation, or can the renovations / upgrades be done over a period of time with careful planning & budgeting

Ready, steady, GO! Let's make that offer to purchase

• Use a reputable Property Practitioner to assist you, find our awesome team here
• Check that the full description of the property is correct (Erf Number, Street Address, SQM & Location) - ask for the existing Title Deed to be attached
• The Seller's details have to be 100% correct, they may be an individual, a couple or trust / company represented by an individual (Your Property Practitioner will assist you here)
• Your information as the Buyer has to be fully completed & include all the details required
• Most importantly is the Purchase Price (offer completed in full) - this is the price you are offering for the property. It may be less than the original asking price. Ensure the correct amount is inserted.
• Insert the date on which you would like to take occupation of the property & if this may be before your final transfer & registration takes place, insert the Occupational Rental you will be required to pay until you take ownership/ transfer.
• All the Special Conditions should be recorded, and include dates of when these conditions are to be met for example - your bond approval, obligations that both the Buyer & Seller are responsible for, should be made clear & have dates indicated.
• Are there any items the Seller has agreed to leave for you (moveable items), record this on your Offer to Purchase. Items such as blinds, pool equipment, additional cupboards, light fittings should be discussed, and recorded on the documentation to avoid any confusion later.
• Ask your Property Practitioner if you are unsure about anything, they are there to assist you as the Buyer & also the Seller. They will negotiate their commission with the Seller, and this will be recorded on the documentation, once agreed with the Seller.

Should you need a Home Loan, we're here to help!

Ask your Property Practitioner for assistance, they have great options & advice for you.

• Submit your application either with your own bank, or use an approved bond originator
• Once your application has been assessed, you will receive an approval in principle, subject to valuation of your property by the bank
• The bank will valuate the property, by sending an approved valuer, to determine the offer you have made and the property shows the required value
• Your Loan is approved & now your Property Practitioner, Bond Originator or Bank representative will discuss terms, interest rates, terms & conditions of their offer with you.
• Once you have accepted all the terms & conditions of the offer, the bank will formally grant the loan and instruct the bond attorney to register the bond.

The Legal Stuff - Registration and Transfer Process

You're taking ownership & there will be three attorneys to assist you with this

Transfer attorney: Handles the transfer of the property, this attorney will be selected by the Seller of the property

Cancellation attorney: Cancels the seller's existing bond & is selected by the Seller's bank to attend to the cancellation of their existing bond, or finance they may have on the property

Bond attorney: Registers the new bond in the name of the buyer & is selected by your bank who has approved your finance & home loan

That's it - you are now the proud owner of your very first home!

Our Area Specialists & Property Practitioners will be with you every step of the way.

We are passionate about property, but more passionate about the people we serve!