CAPE TOWN – Buying your very first home is a big leap of life, but it is not a step to be taken lightly, especially during tough financial times. You may think you need to scrimp and save for your first deposit, but it’s easier than you realise.
You can afford to save for a deposit for your own home, while you rent, and it’s easier than you think.
Downscale the dream
The average price paid by a first-time home buyer in South Africa is around R900 000. Coincidentally, no transfer fees are payable when you buy a property for R900 000 or less. Downscale your dream a little by choosing a home with no transfer duty on it, and it may be easier to achieve.
Do you need a deposit?