From getting your credit score in order and checking your affordability to finally getting the keys to your new home. The Mail & Guardian looks at everything you need to know about buying house in this step-by-step guide.
The first step is to get financing for your bond. First improve your credit score. Check your score with a free credit report from a credit bureau such as TransUnion or ClearScore.
Once your heart is set on a house and you have received your offer to purchase document, find a financier. Before signing, read the OTP carefully to understand your rights and obligations. Requirements are that you should be a first-time home buyer earning either a single or joint gross monthly household income of between R3 501 and R22 000; have financial dependants; have never benefited from a government housing subsidy scheme; and have an approval in principle for a home loan from an accredited financial institution.
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