Step 1: Start saving for a deposit and registration & transfer costs. You may qualify for a 100% home loan, or a 108% (which will then cover the registration & transfer costs), but you must also keep in mind, that your financial situation may require you to put down a deposit in order to qualify for a certain home loan amount.
Tips for all new home buyersBuying Privately
'Hive-living' Becoming Popular due to High Prices
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Homebuyers who try to negotiate a private sale with a seller in the hope of getting a reduced price on the property may find, to their regret, that they are mistaken. Firstly, a seller selling his property privately has most likely taken into account the amount that he would save on agents' commission and included it in the price anyway.
'Hive-living' is a phrase used for a concept that is becoming more and more popular. Property prices are rising at a phenomenal rate, and more people are finding these prices unaffordable, and are therefore battling to enter the market. One solution is for several generations of the same family to purchase and live in a property together. In South Africa, properties with multiple dwellings on the stand are becoming highly sought after for this type of living. Every family has its own separate space but there are common communal areas for the family to get together.