Guide to Buying Your First Home in Today’s Market
So, you’re a first-time buyer looking for your dream home? Here’s all you need to know about buying your first home in today’s market.
No Time Like The Present
With the interest rate at a historic low and first-time millennial buyers leading the way, the South African buyer market looks promising.
So, if you’re looking to purchase your first home, now is the time!
The Ultimate Guide to Buying Your First Home
For first-time buyers, the world of real estate may seem daunting. Allow us to guide you through the process of buying your first home.
Finalise Your Financial Planning
Getting your finances in order will include:
- Building up your credit score
- Saving for a deposit
- Knowing what you can and can’t afford
- Be aware of all additional costs that come with buying a house
Complete the OTP
Before signing an Offer to Purchase, you must check every last detail. Are you satisfied with the occupation date? Are the buyer’s and seller’s details correct? Always double-check before you sign.
The Home Loan How-To
- First, you apply for a bond through a bank or other lending institution.
- Once your application has been received, you will receive approval in principle, subject to valuation.
- The bank will evaluate the property to ascertain its worth.
- You will then receive a quotation showing the approved home loan amount, interest rate and terms and conditions.
- Once you have signed off on the quote, the bank will formally grant the loan, instructing the bond attorney to register the bond.
Find Your Dream Home Today
At Tyson Properties, we pride ourselves on knowing the ins and outs of the real estate market. As soon as you’ve decided what you’re looking for in your first home, we’ll walk you through the process of purchase.
Contact us today to find your dream first home!
