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 (0% up to R1M, then progressive rates)

Attorney Fees: Legal costs for property transfer - see detailed fee breakdown in our calculator

Bond Registration: If taking a home loan - fees range from R10,000 to R80,000 depending on bond amount

Deeds Office Fees: Government charges for property registration (R800 - R3,400)

Other Costs: Property searches, FICA, rates clearance certificates, electronic document generation

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

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

Expert Insight from Property Professionals

"Many first-time buyers underestimate total upfront costs," say conveyancing experts. "Beyond the deposit, budget an additional 3-6% of the property price for transfer costs and bond registration fees."

Use our enhanced bond calculator with comprehensive 2025 fee structures for accurate cost estimates.

Use Our Enhanced Bond Calculator

Calculate your monthly payments and total costs using standard attorney fee structures

Calculate Now

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

How to Make an Offer

Making a Competitive Offer

Research Before You Offer

Compare recent sales of similar properties in the area

Get a professional property valuation

Consider market conditions (buyer's vs seller's market)

Factor in any needed repairs or improvements

Essential Offer Conditions

Bond Approval: Subject to obtaining home loan approval

Professional Inspection: Electrical, plumbing, structural

Attorney Approval: Legal review of the sale agreement

Transfer Period: Typically 6-12 weeks for completion

Legal Advice from Property Experts

"Never sign an offer to purchase without legal review," advise property law professionals. "The sale agreement is legally binding once signed - ensure you understand all terms and conditions."

Include inspection conditions to protect yourself
Ensure bond approval conditions are clearly stated
Verify the seller's authority to sell the property
Check for any existing bonds or liens on the property

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

Legal Transfer Process

Once your offer is accepted, you'll need a conveyancing attorney to handle the legal transfer. Choose an attorney who specializes in property law and conveyancing services.

What Your Attorney Handles for You:

Sale Agreement Review: Drafting and reviewing all legal documents

Property Searches: Verifying property ownership and checking for liens

Clearance Certificates: Obtaining municipal rates and levy clearances

Bond Registration: Registering your home loan with the Deeds Office

Transfer Registration: Transferring ownership to your name

FICA Compliance: Ensuring all legal requirements are met

Finding the Right Attorney

What to Look For:

Specialization in conveyancing
Registration with Law Society
Professional indemnity insurance
Competitive fee structure

Questions to Ask:

What are your fees?
How long will the process take?
What experience do you have?
Can you provide references?

Remember: Get quotes from multiple attorneys to compare costs and services before making your choice.

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

Start Searching

Calculate Affordability

Use our tools to determine what you can afford