Questions to Ask Before Buying a Home in Cape Town

Buying a house is not child’s play, but it can be a rewarding chapter in your life. We share some of the most important questions you should ask yourself before signing on the dotted line.

5 Questions to Ask Yourself

1. Can I really afford to buy this house?

A nifty bond affordability calculator can help you understand what loan you could potentially get from the bank and what your repayment will be each month. After you’ve estimated what you will need to pay per month, you can get pre-approval from the bank to get an idea of what they will offer you.

2. Did I do my research on the property and neighbourhood?

Moving to a new home in a new neighbourhood is a big change. Therefore, you want to do your homework before committing. Did you research the local schools, for example? Are there any crime or noise issues in the area? You don’t want to focus solely on the building but also consider its environment.

3. Have I considered all my financing options?

Shop around for the best mortgage solution, don’t just go for the first bank. It would help if you also considered whether you could put down a deposit as this can often decrease your down payment significantly.

4. Am I ready for the commitment and in it for the long haul?

Buying a house is no small feat. Ensure that you understand the contract and terms you agree to. Keep in mind that being a homeowner comes with maintenance effort and costs. However, if you’re ready for the responsibility, it will be a gratifying decision!

5.Do I have a credible real estate agent?

Having a real estate expert by your side who understands the market will be highly beneficial in helping you navigate this big decision.

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