Home Buyers Guide - NestQuestSA

Why This Guide Matters

Buying your first home is one of the biggest financial decisions you'll ever make. This comprehensive guide will walk you through every step of the home buying process in South Africa, from initial planning to moving in.

Pro Tip: The average home buying process takes 6-12 weeks from offer to keys. Start planning early and be prepared for each step.

10-Step Home Buying Process

1

Assess Your Finances

Calculate your affordability, check your credit score, and determine your budget including deposit and monthly payments.

2

Save for Deposit

Aim for 10-20% deposit plus additional costs like transfer fees, bond registration, and moving expenses.

3

Get Pre-Approved

Apply for bond pre-approval from banks to understand your buying power and strengthen your offers.

4

Choose Your Area

Research neighborhoods, schools, amenities, and future development plans that match your lifestyle.

5

Find a Real Estate Agent

Partner with an experienced agent who knows your target areas and can guide you through the process.

6

Start House Hunting

View properties, attend open houses, and create a shortlist of homes that meet your criteria.

7

Make an Offer

Submit competitive offers with appropriate conditions like inspections and bond approval.

8

Get Property Inspected

Arrange professional inspections to identify any structural or maintenance issues.

9

Finalize Financing

Complete your bond application, provide required documents, and arrange home insurance.

10

Transfer & Move In

Complete the transfer process, receive your keys, and move into your new home!

Financial Preparation

Understanding the Costs

Deposit: Typically 10-20% of purchase price (some banks accept as low as 5%)

Transfer Duty: Government tax on property transfers (calculator below)

Bond Registration: Approximately R6,000 - R25,000 depending on loan amount

Conveyancing Fees: R8,000 - R20,000 for legal transfer process

Home Insurance: Required by banks, typically 0.3-0.5% of property value annually

Moving Costs: Budget R5,000 - R15,000 for professional movers

Use Our Bond Calculator

Calculate your monthly payments and total costs

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What to Look for When Viewing Properties

Structural Elements

Foundation and walls for cracks or damage

Roof condition and guttering

Windows and doors operation

Electrical and plumbing systems

Location Factors

Proximity to work, schools, and amenities

Neighborhood safety and security

Future development plans

Property appreciation potential

Making a Competitive Offer

Key Considerations

Market Research: Compare recent sales of similar properties in the area
Timing: In a seller's market, be prepared to act quickly
Conditions: Include inspection and bond approval conditions
Settlement Period: Typically 6-12 weeks for bond applications

Warning: Never waive inspection conditions to make your offer more attractive. A professional inspection can save you thousands in future repairs.

Legal Transfer Process

Once your offer is accepted, the conveyancing attorney will handle:

Drafting and reviewing the sale agreement

Obtaining clearance certificates

Registering the bond with the Deeds Office

Transferring ownership to your name

First-Time Buyer Programs

Government Assistance Programs

FLISP (Finance Linked Individual Subsidy Programme)

For first-time buyers earning R3,501 - R22,000 per month. Provides subsidy to help with bond payments.

Enhanced People's Housing Process

For households earning up to R3,500 per month. Provides full subsidies for home ownership.

Common First-Time Buyer Mistakes

Financial Mistakes

Not getting pre-approved before house hunting
Underestimating additional costs
Taking on the maximum loan amount
Not shopping around for the best interest rate

Property Mistakes

Falling in love with the first property
Ignoring the neighborhood
Skipping professional inspections
Not considering future needs

Ready to Start Your Home Buying Journey?

Search Properties

Browse our extensive database of available properties

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Calculate Affordability

Use our tools to determine what you can afford